The planning stage of project management is an essential component of any successful business. It involves the creation of a detailed plan of action to reach the desired outcome of a project. During this stage, objectives, tasks, resources and timelines are all established in order to ensure that the project is completed within the allotted timeframe. During the planning stage, risk assessments are also carried out in order to identify any potential risks that could potentially derail the project and create unplanned delays. In addition, budgets and timelines are established in order to ensure that everyone involved in the project is working within the established framework. This method of project management helps to keep everyone on the same page, and ensures that all of the details are taken care of and accounted for in a timely manner. The planning stage of project management is essential to the success of any project, and it must be done in a thorough and organized manner in order to