Typically, before you even start working with Microsoft Project, you have a defined scope for your project. This scope drives the development of deliverables, milestones, phases, and tasks; and it was also probably developed in conjunction with various stakeholders.

If you were forced to cut scope as a result of adjusting the project plan to meet finish date, cost, or resource requirements, you need to go back to those stakeholders and get their approval for your scope changes.

You might need to justify your changes and specify the tradeoffs that are being made to meet the finish date, reduce costs, or balance workload to a reasonable level. You can also point out that the scope is now defined more precisely, based on the project limitations. With this more precise definition, you lower potential risks. The plan is solid and realistic. The project is now less apt to incur unexpected delays, costs, or other changes that can disrupt the project, cause rework, or lower productivity.

As soon as you obtain buyoff from your stakeholders, you have officially completed the planning phase of your project. You’re finally ready to tell your team "Go!" and enter the execution phase of the project.