Project Management It is a specialized branch of management capable of differentiation from others...
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Project ManagementProject Management
It is a specialized branch of It is a specialized branch of management capable of management capable of differentiation from others based on differentiation from others based on a variety of factors which includes a variety of factors which includes the organization structure, the the organization structure, the process of planning and control, process of planning and control, human relationhuman relation
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ReferencesReferences
Project management- Harold Project management- Harold KerznerKerzner
Project Management – Vasant DesaiProject Management – Vasant Desai
Quantatitive Techniques in Quantatitive Techniques in Management- N.D. VohraManagement- N.D. Vohra
Project Management – Prasanna Project Management – Prasanna ChandraChandra
Project Management – K NagrajanProject Management – K Nagrajan
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Project is accomplished by performing a set of activities
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Character sticks of ProjectCharacter sticks of Project
ObjectivesObjectivesLife cycleLife cycleDefinite time limitDefinite time limitUniquenessUniquenessTeam workTeam workComplexityComplexitySub-contractingSub-contractingRisk & UncertainityRisk & Uncertainity
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Character sticks of ProjectCharacter sticks of Project
Customer Specific natureChangeResponse to environmentForecastingRational choicePrinciple of successionOptimalityControl mechanismMultidisciplinaryConflictsParts of Large Program
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Attributes of good Project manager
Planning & organizational skillsPersonal Mgmt skillsCommunication skillsChange orientationAbility to solve problems in totalityHigh energy levelsAmbition for achievementAbility to take suggestion
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Taxonomy of ProjectsActivity- industrial , non-industrialLocation – national , internationalProject Completion Time – normal, crashOwnership – private sector, public, joint sectorSize – small , medium , largeNeed– New Project– Balancing Project– Expansion Project– Modernization Project– Replacement Project– Diversification project– Backward Integration project– Forward Integration Project
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Government Regulator
Major role in industrial developmentIndividual entrepreneurs search for profitable ventures and function according to government frameworkLays down industrial priorities for country developmentAdopts Industrial licensing policy to control new investments in such areas where growth has attained stauration
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Fiscal Policy – influence economic activity of country through the medium of budget. Govt presents details of public revenue and expenditure.Monetary policy – concerned with qty of money and its regulations. RBI regulates the volume of money and its main objective is to control inflation and deflation
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Other regulatory measuresOther regulatory measures
Industrial licensingIndustrial licensing
Control over capital issuesControl over capital issues
Control over foreign exchangeControl over foreign exchange
Export promotion and import controlsExport promotion and import controls
Control over monopolies and Control over monopolies and restrictive trade practicesrestrictive trade practices
Control over pricing and distribution Control over pricing and distribution of commoditiesof commodities
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Phases of a Project MgmtPhases of a Project Mgmt
Identification
Formulation
Appraisal
Selection
Implementation
Management
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Project Identification
Performance of existing industriesAvailability of raw materialAvailability of skilled laborImport / export statisticsPrice trendData from various sourcesResearch laboratoriesConsumption abroadPlan outlays & govt. guidelinesAnalysis of economic and social trendsReviving sick units
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Project FormulationPre Feasibility studyFunctional studies- mkt study , raw material , project location, plant size, equipment selectionFeasibility study – Technical– Economic– Commercial– financial
Detailed Project Analysis (DPR)
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Detailed Project Analysis (DPR)It is a report to formally communicate the project promoter’s It is a report to formally communicate the project promoter’s
decision of venturing a new project decision of venturing a new project toto financial institutions for financial institutions for their perusal and to government departments for getting their their perusal and to government departments for getting their approvalsapprovals– General infoGeneral info– Background and experience of project promotersBackground and experience of project promoters– Details of proposed project Details of proposed project – Schedule of implementationSchedule of implementation– Project costProject cost– Means of financing projectMeans of financing project– Working capital requirementsWorking capital requirements– Marketing and selling arrangementsMarketing and selling arrangements– Profitability and cash flow estimatesProfitability and cash flow estimates– Mode of repayment of term loanMode of repayment of term loan– Govt approvalsGovt approvals– Collateral securityCollateral security
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Feasibility ReportFeasibility Report
Market AnalysisMarket Analysis– Consumption trends in the past and present Consumption trends in the past and present
consumption level.consumption level.– Past and present supply position.Past and present supply position.– Production possibilities and constraints.Production possibilities and constraints.– Imports and exportsImports and exports– Structure of competitionStructure of competition– Cost structureCost structure– Elasticity of demandElasticity of demand– Consumer behaviorConsumer behavior– Distribution channels and marketing policiesDistribution channels and marketing policies– Administrative, technical and legal constraintsAdministrative, technical and legal constraints
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Technical AnalysisTechnical Analysis
Preliminary tests and studiesPreliminary tests and studies
Availability of raw materialsAvailability of raw materials
Selected scale of operation is optimalSelected scale of operation is optimal
Production process chosen is Production process chosen is suitablesuitable
Machinery is appropriateMachinery is appropriate
Supplementary engineering work to be Supplementary engineering work to be providedprovided
Proposed layout of site and bldg Proposed layout of site and bldg
Work schedules to be realistically drawnWork schedules to be realistically drawn
Appropriate technologyAppropriate technology
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Financial AnalysisFinancial Analysis
Investment outlay and cost of projectInvestment outlay and cost of project
Means of financingMeans of financing
Cost of capitalCost of capital
Projected profitabilityProjected profitability
Break even pointBreak even point
Cash flows of the projectCash flows of the project
Investment worthwhilenessInvestment worthwhileness
Projected financial positionProjected financial position
Level of riskLevel of risk
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Social Profitability AnalysisSocial Profitability Analysis(Economic Analysis)(Economic Analysis)
Economic cost and benefit of projectEconomic cost and benefit of project
Impact of project on distribution of Impact of project on distribution of income in societyincome in society
Impact of project on the level of Impact of project on the level of savings and investment in the savings and investment in the societysociety
Contribution towards self-sufficiency, Contribution towards self-sufficiency, employment and social orderemployment and social order
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Ecological AnalysisEcological Analysis
Environmental damageEnvironmental damage
Restoration measuresRestoration measures
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Criteria for selecting a Criteria for selecting a particular Projectparticular Project
☀Investment SizeInvestment Size☀LocationLocation☀TechnologyTechnology☀EquipmentEquipment☀MarketingMarketing
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Importance of Project Importance of Project IdentificationIdentification
Economic DevelopmentEconomic Development
Employment and Income generationEmployment and Income generation
Substantial Financial OutlaysSubstantial Financial Outlays
Basic Infrastructure and Basic Infrastructure and EnvironmentEnvironment
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Establishing the Project
InitiatingPlanningOrganizingExecutingDirecting and Controlling
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Skills required of a project Manager
Leadership skillsTeam Building SkillsConflict Resolution SkillsTechnical skillsManagerial skills
Organizing Human Resource
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Project ControlProject ControlCostCost
TimeTime
Quality / technical performanceQuality / technical performance
Examples of control systemsExamples of control systems Work breakdown structureWork breakdown structure Bar chartBar chart Program progress chartProgram progress chart Monthly status reportsMonthly status reports Earned value analysisEarned value analysis Pert cost systemPert cost system PERT CPM networksPERT CPM networks Network SimulationsNetwork Simulations