Project planning involves developing a schedule of interrelated tasks to complete a project within set timeframes and resource constraints. It is important for success as it saves time, money and prevents problems. Key steps include reviewing objectives and deliverables, creating a work breakdown structure (WBS), estimating activity durations and resource needs, sequencing tasks, developing a schedule, and identifying milestones and critical paths. Project planning requires team participation and plans may need to change as situations evolve. Information systems can help by processing input data to output useful project planning artifacts like schedules and task lists.