Project planning involves applying knowledge, skills, tools, and techniques to project activities to meet requirements. It includes project initiation, planning, execution, monitoring, and closure. Objectives are to define roles and responsibilities, ensure alignment with business objectives, check feasibility of schedules and requirements. Principles include planning before starting, risk analysis, tracking the project plan, and ensuring quality. Issues include time and budget management. Activities include estimating time, effort, resources, and risks, identifying critical success factors, preparing a project charter and plan, and commencing the project.