Develop Project Management Plan is an official business process that helps to define, prepare, plan and integrate all necessary management activities in order to successfully achieve the project objectives. It revolves around the development of a comprehensive document or suite of related documents that outline the scope, goals, budget, scheduling, resources and overall approach for a specific initiative or program. This plan serves as the roadmap for everyone involved in the project – from stakeholders and sponsors, to team members and vendors. By having a well-structured plan in place early on, organizations are better equipped to optimize their performance and maximize the potential of their project.