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Project Identification and Selection

This document discusses project identification and selection. It defines a project as having distinct missions and termination points designed to achieve benefits. Projects can differ in size, nature, objectives, and time duration, but generally have specific objectives and time perspectives. Projects are classified as quantifiable or non-quantifiable, by sector, and as capital intensive, labor intensive, demand-based, or raw material-based. Ideas for projects come from various internal and external sources, and methods for generating ideas include brainstorming, checklists, and analyzing parameters. The main tool for project selection is SWOT analysis, which involves a process of zeroing in on a project based on interdependent factors like the product, market, location, and investment

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Sivasubramanian Jayaraman
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1K views

Project Identification and Selection

This document discusses project identification and selection. It defines a project as having distinct missions and termination points designed to achieve benefits. Projects can differ in size, nature, objectives, and time duration, but generally have specific objectives and time perspectives. Projects are classified as quantifiable or non-quantifiable, by sector, and as capital intensive, labor intensive, demand-based, or raw material-based. Ideas for projects come from various internal and external sources, and methods for generating ideas include brainstorming, checklists, and analyzing parameters. The main tool for project selection is SWOT analysis, which involves a process of zeroing in on a project based on interdependent factors like the product, market, location, and investment

Uploaded by

Sivasubramanian Jayaraman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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PROJECT IDENTIFICATION AND SELECTION

Meaning of Project:
A project typically has a distinct mission that is
designed to achieve and a clear termination point, the
achievement of the mission Newman
As the whole complex of activities involved in using
resources to gain benefits Gillinger
A project is an organized unit dedicated to the
attainment of a goal the successful completion of a
developed project on time, within budget, in
conformance with pre-determined programme
specifications Encyclopedia of Management
PROJECT IDENTIFICATION AND SELECTION
Projects can differ in their size, nature, objectives,
time duration.

Basic attributes of a Project are,
i. A course of action
ii. Specific objectives
iii. Definite time perspective
PROJECT IDENTIFICATION AND SELECTION
Project Classification:
1. Quantifiable and Non-Quantifiable projects
2. Sectoral Projects
3. Techno-Economic Projects
PROJECT IDENTIFICATION AND SELECTION
Project Classification:
1. Quantifiable and Non-Quantifiable projects
Quantifiable Plausible quantitative assessment of
benefits can be made. Projects concerned with
industrial development, power generation,
mineral development
Non-Quantifiable - Plausible quantitative assessment
cannot be made. Projects concerned with health
education, defence.
PROJECT IDENTIFICATION AND SELECTION
Project Classification:
2. Sectoral Projects
i. Agriculture and Allied sector
ii. Irrigation and power sector
iii. Industry and mining sector
iv. Transport and Communication sector
v. Social services sector

PROJECT IDENTIFICATION AND SELECTION
Project Classification:
3. Techno-Economic Projects
i. Factor Intensity oriented :
a) Capital intensive large investment in plant and machinery
b) Labor intensive large number of human resources
ii. Causation oriented :
a) Demand based demand for certain goods or services
b) Raw material based availability of raw materials, skills
iii. Magnitude oriented :
Based on the size of investment made Large, medium
or small scale


PROJECT IDENTIFICATION AND SELECTION
Project Identification: A project having a good market
Idea Generation : Discovered from various internal / external sources
i. Knowledge of potential customer needs
ii. Watching emerging trends in demands for certain projects
iii. Scope for producing substitute product
iv. Going through some professional magazines
v. Success stories of known entrepreneurs
vi. Making visits to trade fairs, exhibitions
vii. Meeting with Government agencies
viii. Ideas given by knowledgeable persons
ix. Knowledge about the Government policy, concessions and
incentives
x. A new product introduced by the competitor
PROJECT IDENTIFICATION AND SELECTION
Methods for generating Ideas :
1.Focus groups Group of individuals providing information
in a structured format
2.Problem inventory analysis A method for obtaining new
ideas and solution by focusing on problems
3.Brainstorming A group method for obtaining new ideas
and solutions. Four rules should be followed,
i. No criticism is allowed by anyone in the group
ii. Freewheeling is allowed
iii. Quantity of ideas is desired
iv. Combinations and improvements of ideas are encouraged
PROJECT IDENTIFICATION AND SELECTION
Methods for generating Ideas :
4.Reverse Brainstorming A group method for
obtaining new ideas focusing on the negative
5.Synectics A method for individuals to solve
problems through one of the four mechanisms,
personal, direct, symbolic and fantasy
6.Gordon method Developing new ideas when the
individuals are unaware of the problem
7.Checklist method Developing a new idea through
a list of related issues
adapt/modify/magnify/substitute/rearrange
PROJECT IDENTIFICATION AND SELECTION
Methods for generating Ideas :
8.Matrix charting Developing a new idea by listing
important elements on two axes of a chart.
What/where/who/when/how can it be used?
9.Big-dream approach Developing a new idea by
thinking about constraints
10.Parameter-analysis : Developing a new idea by
focusing on parameter identification (analyzing
variables in the situation to determine their relative
importance) and creative synthesis (solution
development)
PROJECT SELECTION
Main tool used is SWOT analysis.
Zeroing in process The process involved in selecting
a project out of some projects.
An Interdependence process
Product
Raw Material Ownership
Market
Location
Labour
Working Capital
Total Investment

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