What is the role of planning and proper budgeting in a project?

Planning saves you from being bogged down in day-2-day project problems and makes you forget about the bigger picture.
thats why structured planning makes a great difference in the project managment.
  The key benefit of planning is creating focus on the direction of the projects you work on which enables you to allocate resources and develop time schedule that helps you achieve the project objectives; Planning can give you: - Great ability to make continues improvment and anticipate problems.
- good financial information that helps you take descisions - greater confidence is descision making   Of course every plan shall include the required budget to achieve its objective, the bennefits of  budgeting are;
1- allocate the appropriate resources to the project
2- to be able to manage money effeciently
3- Monitor performance
4- control project costing thus monitor the project profitability
5- identifies problems before it occurs and secure a contengency financing methods so as not to affect the project progress at any phase.

6- meet the project objective in the exact requested timing or schedule.
   

The most important aspect is project planning along with Business Continuity Plan (BCP).
Once the planning is done in appropriate way then the work on budgeting gets simpler.
So I consider project planning has more importance then the budgeting.

I would say, proper planning and budgeting would contribute to more than60% of the project success, as you would be able to adequately estimate the resources and money you need for accomplishing the agreed on project scope without needing to risk the quality of the outcome.

Planning is a thinking and decision making before taking action at right time and period.
The top level executives are main role for take plan and its implement after the evaluate and analyse.

Consider the BCP at the planning stage is very important for any projects

Planning is the key for successful completion of any project.
With proper planning and carefully budgeting we can ensure a project complets successfully  

Budgets allow you to see CPI and SPI. If value is not being earned after spending on project, it is highly likely that project will go over schedule eventually reducing the gross profit. This would impact the ability of the vendor to complete the project and likely hood of failrure on the project will rise. 

It is one of the control mechanism and goals that are set so that project do not veer off course for longer periods and effort is put to steer back closer to path that leads to goals. 

 

Bad projects fail even before they start...Planning and budgeting helps to identify whether a project is vaible or not.These two processes will help determine the resources necessary for the project as well as give a road map for the whole project.That means without Budgeting its very easy to get a stalled project.Without planning,the project is likly to end in implementation problems.Cost overuns then follow pushing the total cost of the project out of budget.In the end.Results-Failed Project!

Planning the most crucial step for success. Proper planning will find the right answer for all issue related to budgeting, expected profit and anticipated implementation problems. Planners always say that failing to plan is planning to fail.

Planning tells answer of different WH questions and Budgeting tells at this much cost

If you don't plan, you plan to fail.
Planning is a very crucial and essential step in any project.
Without planning you can't know the sequence of tasks, start and finish times, duration, critical tasks, milestones, project expected finish time, resources needed, costs, etc.
Planning is a pre-requisite for estimating project budget and its accuracy reflects the effectiveness of the planning stage itself.
Any project will start with pre-project planning, then implementation planning followed by post-project implementation planning and finally implementation.
Three stages of planning are done before the actual implementation is done.
This proves  how important and vital planning is to the success of any project.