I would say that the planning phase is one of the most important phases for a project. It is one of the most critical phases in terms of getting a project started. This is not just the case in terms of having the execution happen but also getting management to be on your side to have the project happen in the first place. They want evidence of thorough planning that answers all of their questions and concerns. If they are going to put money and resources into your project they need to know that you have thought it through and are going to basically make it worth the company’s while. Having great planning done, is what makes the project happen at all, and can also help to mitigate for possible risks or problems.