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Should Project planning be the next action?

Of course both options are possible. If you want to postpone project planning, formulating the Next Action well would be dependent on the amount of planning needed. For instance for a bigger project you could start with "write down list of wanted outcomes for Project X." That list would then form the basis for the "successful outcome" statement in the project plan.
 
David Allen divides work into three kinds: pre-defined work, work that shows up, and defining your work. The last one is actually the most important. In some sense, you are always defining your work. “Project planning” is not a monolithic process, it’s just part of your work. There are no practices beyond the minimum laid out in the GTD book that will work for everyone. You want to work on a project right now? Fine. You want to put “plan project” on a next action list? Great. You want to empty your inbox? OK.
 
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