The Planning Phase is an official business term that refers to the process of creating a plan of action that outlines the steps involved in achieving a goal. This phase is a crucial part of any business operation, as it provides structure and guidance for all employees involved in the project. During the Planning Phase, leadership teams must consider the scope and objectives of the project, identify resources and personnel needed to carry out the task, and assess potential risks and solutions. Additionally, stakeholders should be consulted to ensure their input is captured in the planning process. After all of the necessary elements are considered, leadership can then create a timeline, budget, and scope of work that will drive the entire project. The Planning Phase is a critical part of any project, as it allows the team to identify potential problems, anticipate and prepare for risks, and create an action plan that will lead to a successful outcome.