Improvising on top of a plan is much better than coming up with things on the spot.
Some creators achieved great success working like that, such as Fernando Meirelles, Larry David, and Woody Allen.
I'm much more of a planner myself - like Spielberg and Hitchcock. Not that I'm even close to them, of course. But I admire their method. It is not uncommon for most things to occur precisely as planned, sometimes to the second. But you gotta be prepared to think on your feet. I think that's the message behind those sayings.