This chapter looks at the notion of defence policy and the importance of the transparency of long-term planning and force development plans for the democratic governance of defence. It then examines various planning horizons and the interactions among the respective processes, thus explaining why and how defence planning constitutes a core defence management process. Thirdly, the chapter briefly introduces the reader to the possible alternative approaches to defence planning. The fourth part presents a framework model of linking policy objectives to force structure and explains the role of planning risks. The concluding part briefly touches on contexts for the national defence planning process and once again emphasises the importance of transparency of decision-making for the democratic accountability, effectiveness, and efficiency of a defence establishment. The issues addressed in this chapter are not unique to NATO aspirants and partner countries. Our belief is that civilian and military experts from any country on the thorny path to democratic governance of defence would benefit from a better understanding of the linkages between security challenges and policy objectives to defence planning, on one hand, and defence planning to resource management mechanisms, on the other. Because, for example, it does not matter whether a Ministry of Defence implements a ‘perfect’ accounting system and transparent financial procedures if they support the development of a force structure that is not adequate to the security environment, the policy objectives and the strategy of the country.