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Project Management

Project management involves planning, organizing, and managing resources to successfully complete projects within constraints. It uses tools and techniques to plan work and ensure projects are completed efficiently. A key part of project management is conducting a feasibility study to analyze the technical, economic, commercial, and financial viability of a proposed project before starting work. This helps determine if the project's goals can realistically be achieved given available resources and technologies.

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109 views23 pages

Project Management

Project management involves planning, organizing, and managing resources to successfully complete projects within constraints. It uses tools and techniques to plan work and ensure projects are completed efficiently. A key part of project management is conducting a feasibility study to analyze the technical, economic, commercial, and financial viability of a proposed project before starting work. This helps determine if the project's goals can realistically be achieved given available resources and technologies.

Uploaded by

abhisonali
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Project Management

Introduction
 Project management,
 planning & evaluation,
 feasibility report,
 planning process major steps in managerial
planning,
 planning under systems approach.
 The term project has a wider meaning
 A project is completed by performing
several activities
 Other aspect of project is non-routine
activities
 Like construction of house is a project
involves non-routine activities like
digging of foundation pits, walls, roof,
fixing of doors, wiring, white-wash etc.
 Project consumes resources i.e. men,
material, machine, money time etc.
 Resources are always limited.
 If a person wants to construct a house
for Rs. 10 lakhs and in 6 months the
project must be completed to these
constraints.
 Hence project is a pre-determined
group/set of activities.
Definations
 ‘ A system involving the coordination of
a number of separate departments
which must complete within the
prescribed time duration’.
Harison
 ‘Project is a organized unit dedicated to
the attainment of common goal-
successful completion of within the set
budget standards’
Encyclopaedia of Management
 Project management involves some
stages:-
(a) Project planning
(b) Project scheduling
(c) Project implementation, controlling,
monitoring.
Characteristics of Project
 Objectives: or mission of project.For
example construction of road to connect two
cities A and B.
 Life cycle:-
(a) Conception Stage: project idea is generated
(b) Design stage: detailed design of project are
worked out.
(c) Implementation stage: implementation
according to the selected design
(d) Commissioning stage: End of its life cycle
Contd…
 Definite time limit:
 Uniqueness
 Team work:
 Complexities: very complex and
difficult to understand for common
man
 Risk and uncertainty
 Customer specific nature
Contd…
 Change in project
 Multidisciplinary
 Part of large programme: Projects are
part of large entity called porgramme.
Many projects when put together
constitute a programme. For example
setting in a satellite in an orbit in space
is a programme which will consist of
interrelated project.
Project Management
 Project management refers to the
Management of project, which are
temporary, non-routine, undertaken
for producing a definite product of
offering a unique services.
 It uses a set of tools, techniques,
principles and methods for planning
and executing the project work
effectively.
Project Planning
 Planning is nothing but deciding in advance
the future course of actions. Planning is a
primary function of management. The process
of planning involves the following main steps:
(a) Defining the objective of project
(b) Making forecast for achieving the goals.
(c) Identifying the alternate course of action for
goals.
(d) Evaluating the resources available to the
organization
Finally:
 During the process of planning, the
various operations involved in the
project, their sequences and their
logical inter relationships are
established.
Project Evaluation

 To evaluate means to assess.


 P.E. is an assessment of the project
during the course of implementation. It is
interim assessment at major milestones.
 It ensures the over all status and
progress.
 P.E. is top bring about all-round
improvement in project planning and
execution.
Objectives of Project Evaluation

1. To verify if the progress of project implementation


is as planned and to take corrective measures if
the project progress lags behind the schedule.
2. To as certain whether the actual cost is within the
budgeted cost at the different stage of
implementation and to take the corrective action
if the cost increases.
3. To ensure the quality standards of the project are
reached without any compromise.
4. To identify the unexpected problem area and to
plan for managing such situation
5. To appraise the clients about the progress of the
project and to keep them informed about the
project status.
6. To bring about overall improvement in project
performance.
7. To watch whether the project objectives are met
and to suggest corrective measure if the
objectives are found to get defeated.
8. To give confidence to the project team members
and to reassure the organization’s commitment to
the project.
Project Feasibility Report

 Feasibility Study: Before making the


final decision to take up a project the
technical, economic, commercial and
financial justification of the project
shall be ascertained. Feasibility study
is also know the term techno-
economic feasibility study.
1. Technical feasibility

 It is normally seen that while most of the project


get a fine screening on their financial justification
but technical feasibility does not get required
attention.
 Hence technical feasibility can be evaluated by
answering the following questions:-
(a) Is the technology proposed to be adapted is the
latest one?
(b) Will the technology become obsolete in near
future?
(c) In case of imported technology, is the technology
available freely?
Contd…
 In simple words technical feasibility report aim to
analyze whether the technology proposed to be
adapted is capable of producing goods or services to
the requirement, within satisfaction, and without
becoming obsolete in near future.
 And the project should be cost effective in the long
run.
2. Economic viability

 Means the investment made in the


project will give a satisfactory return
to the economy.
3. Commercial viability

 Means the project must be a


commercial in terms of price and
offering.
4. Financial viability

 Means workability of project proposal


in respect of raising finance to meet
the investment required for the
project i.e. equity investment, debt
financing.
 Financial feasibility also involves the
calculations of cost of debts,
Example of detailed project report: -
1. General information about the project
2. Background and experience of the project promoters.
3. Details and working redsults of industrial concerns already owned by
the promoters.
4. Details of the proposed project: -
(a) Plant capacity
(b) Manufacturing process
(c) Technical know-how
(d) Management team for the proect
(e) Details of land, building, plant and machinery etc.
(f) Details of infrastructure facilities i.e. power, water, transport etc.
(g) Raw material requirement/availability
(h) Effluent produced by the project and its
treatment etc.
(i) Labour requirements/availability

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