If, on the other hand, the planner chooses too short a planning horizon, he or she may have ignored important events just past the horizon. However, at the portfolio level, organizations need product managers who can transcend the mindset of a single horizon and manage products in all three horizons at the same time. To spend large amount of time and money using data of questionable reliability could result in unnecessary expense and unsatisfactory results. A practical approach is to transition product management responsibilit ies to a different product manager at the boundary between the Grow (H2) and Profit (H1) horizons. In other words, if the time horizon for a planning model is too long, the amount of required input data–most of which often may be guesswork-tend to be very high and incur high computational costs. Employing a finite horizon in plans is justified partly on the supposition that far distant events have negligible effect on the current decisions and partly on the realization that the forecasted data far into the future tend to be inaccurate. How is the Project Plan used by the Project. The Project Plan shows the major products, activities and resources required for the project. It provides a statement of how and when a project’s time, cost, scope and quality targets are to be achieved. However, this is not only impossible but also unnecessary. The Project Plan is a high-level plan and is mainly used by the Project Board. For example, at macro-levels, a government may influence interest rates to regulate financial demand. This can be at macro-levels as in economics and at micro-levels within individual organizations. An optimal plan should take into consideration all the information relevant to future events. Demand management is a planning methodology used to forecast, plan for and manage the demand for products and services. A planning horizon is the length of time (i.e., the number of weeks or months) into the future for which plans are made.
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