Project planning is the framework of strategic planning in the organization. It is a discipline for stating how to complete a project within a certain timeframe, usually with defined stages, and with designated resources. It is the process of establishing and maintaining the definition of the scope of a project, the way the project will be performed roles and responsibilities and the time and cost estimates. It is also called master planning.
Project scheduling involves breaking down a project into component activities and then estimating the duration of each. It is the process of identifying and organizing the tasks of a project into a sequence of events ensuring a harmonious completion of the venture. These events are dependent on the results of their preceding activities, thus interlinking all the activities of the project. This interdependency provides for a major need of effective project scheduling. It enables the project manager to identify risk points, understand the proper linkage of events, assists in resource planning and allows the project manager to establish goals for the team and the project.