We are planning to go to the beach during summer vacation.
I like to plan but I don't like to carry out what I've planned.
If we’re going to steal the Eiffel Tower, we need to have a really good plan.
When you do a drawing of a measurement you want to do on the chalkboard, you're drawing up a plan for doing something. All things require some kind of measurement, so drawing that measurement up is your plan.
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well. The reading for 画 is the secondary reading though (かく), so take note of that.