A Project Plan is a formal document that outlines the goals, tasks, resources, and timelines for a specific project. It serves as a roadmap, guiding the project team through each phase of the project, ensuring that everyone understands their roles and responsibilities. The plan typically includes details such as budget estimates, risk assessments, and key milestones. Creating a Project Plan involves collaboration among team members and stakeholders to identify objectives and deliverables. It helps in tracking progress and making adjustments as needed, ultimately contributing to the successful completion of the project within the defined scope and timeline.