From people who are not familiar with project management, one of the top fielded questions is what are the consequences of poor planning? One of the top and fatal consequences of poor planning in project management is project failure. This result is something that should be avoided at all costs. With that hindsight, here are the top three reasons why good planning is essential for a project’s successful execution. Planning is the foundation on which you base the project execution. Without a strong and stable foundation, the project is more than likely to collapse around your ears. Good planning will ensure that the resources are ideally utilized. You should not waste resources when planning a project as this will result in the decrease of the overall profits from the project. The whole team should work as a unit to complete the tasks. Improper planning will result in the assignment of redundant tasks, thus increasing the cost and time taken to complete a project.