I observed few management team members got into the trap of making management in business, a precision engineering. Philosophically, I completely differ that management in business can’t be precise in a corporate environment. Due to office dynamics, politics, internal and external uncertainties, management in business is all about approximation but not perfection.
In most of the cases, the practical approach should be : “THINK BIG, START SMALL, RUN FAST”
Technically, management in business can be precise but it’s very expensive. I had read few dynamic programming papers published from Nasa on how the project schedule conflicts are resolved using various optimization theories. Those techniques were published as a research paper. While management in launching a rocket to outer space business need precision engineering but, for instance, when you create a draft project charter, you do not. Corporation should not be spending their time to make it perfect when they you are dealing with uncertainities. I understand, plan is nothing but planning is everything. But when a project lacks clarity on its scope, don’t spend time on planning but use it wisely to improve the clarity of the project.