2. CONTEMPORARY PLANNING TECHNIQUES.Two planning techniques that are appropriate for planning in an environment that’s both dynamic andcomplex are project management and scenario planning.1) Project ManagementA project is a one-time-only set of activities that has a definite beginning and ending point in time.Project management is the task of getting a project’s activities done on time, within budget, andaccording to specifications.Project Management ProcessThere are seven steps in the project planning process.i. Define objectives.ii. Identify activities and resources.iii. Establish sequences.iv. Estimate time for activities.v. Determine project completion date.vi. Compare with objectives.vii. Determine additional human resource requirements.The role of the project manageri. The only real influence project managers have is their communication skills and their power ofpersuasion.ii. Team members seldom work on just one project; they’re usually assigned to two or three at anygiven time.2) Scenario planningi. A scenario is a consistent view of what the future is likely to be.ii. Developing scenarios also can be described as contingency planning.iii. The intent of scenario planning is not to try to predict the future but to reduce uncertainty byplaying out potential situations under different specified conditions.iv. Scenario planning is difficult to use when forecasting random events3. OTHER PLANNING TECHNIQUES:1) Queuing or waiting-line models are mathematical models that describe the operatingcharacteristics of queuing situations2) Simulation ModelsSimulation is a mathematical imitation of reality. It is used when the situation is too complex forlinear programming or queuing theory.3) Decision TreesTrees are graphic models displaying structures of a sequence of alternative course of action andusually showing payoffs associated with various paths and probabilities associated with potentialfuture conditions.