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Estimating and Planning. This is the process whereby you or in the worst case scenario others determine the cost, duration and resources required by your project. In some cases the seeds of project failure are sown at this stage if you don't get it right and forget or overlook work packages effort. In complex projects, if you don't do enough testing as you go along, expecting it to all come together right at the end is like asking for a miracle. Blindly using data and metrics from previous projects (e.g. it took 2 weeks last time, so I will plan for 2 weeks this time) is also asking for trouble. Just throwing in risks and contingency effort/money will not help you, because trying to just throw resources at problems can make the problem even worse and take longer to fix (read the 'Mythical Man Month' book). Estimating and Planning is by far the most difficult and unappreciated process in project management, probably followed by Change Management and then Stakeholder Management.

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