Step 1: Understanding the Concept:
Managerial planning hierarchy proceeds from primary decision selection down to operative scheduling and resource allocation.
Step 2: Detailed Explanation:
Standard management planning process sequence (Koontz and O'Donnell):
1. Step 1 (E): Selecting a course of action (choosing the primary strategic alternative).
2. Step 2 (A): Formulating derivative plans (sub-plans supporting the main plan).
3. Step 3 (C): Preparing an operative plan by timing, scheduling, and sequencing activities.
4. Step 4 (B): Accessing and allocating resources and budgeting.
5. Step 5 (D): Securing participation, communication, and commitment of personnel.
Sequence: E $\rightarrow$ A $\rightarrow$ C $\rightarrow$ B $\rightarrow$ D.
Step 3: Final Answer:
Thus, the sequence of planning steps is E, A, C, B and D, matching option (D).