Topics To Be Covered
Meaning Characteristics Classification Importance Of Project Features Of Project Project life cycle Phases of project management
Meaning
Project management is the discipline of planning, organizing, securing, and managing resources to achieve specific goals. A project is a temporary endeavour with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables), undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value.
Characteristics
Classification
Quantifiable and Non- Quantifiable Projects Sectoral Projects:Agricultural and allied sector Irrigation and power sector Industry and mining sector Transportation and communication sector Social service sector Miscellaneous
Classification
Techno Economic Projects Factor intensity- oriented classification Capital intensive Lab our intensive Causation oriented classification Demand Based Raw material based Magnitude oriented classification Large scale Medium Scale Small Scale
Classification
Financial Institutions Classification New project Expansion Project Modernization Projects Diversification Projects Service Project Welfare Project Service Project Research and Development Project Educational Project
Importance
Catalytic agent for economic development They have consequences which are long term in nature Projects provide the framework for the future activities of the enterprise Shape future pattern of service Involve substantial financial outlay Projects commitments cannot be easily reversed Brings necessary changes in society in course of time Accelerates the process of socio-cultural development
Features
Simplicity and clarity Availability of attractive technology to promote the project Integration of basic production services, especially those of inputs supply, credit, marketing and extension Compatibility of the project within the existing administrative mix
Identification
Selection of a project after a careful scanning of the environment of investment opportunity and its likely return
Formulation
Translation of the idea into a concrete project with scrutiny of its important preliminary aspects. Preparation of feasibility report
Appraisal
Searching, scrutiny, analysis and evaluation of market technical, financial and economic variables. Assessing the profitability, return on investment and break even point
Selection
Implementation
Management
Judicious operation of a project/ enterprise with objectives like maximization of net present value, maximization of return and return in the rate of return at low risk
Sources