Project:
Identification, Selection and Formulation
Part of the success of any
project comes from the programming and identification stage. The process of identifying a candidate idea
for developing into a project is called Project Identification. This is a systematic
process and some times it may be a serendipitous act.
Sources of
Project ideas
ü
• Observation
ü
• Trade
and Professional magazines
ü
• Bulletin
of Research organizations
ü
• Government
sources
Project
selection
Project selection is a careful
study of each project idea in detail and choosing one of them for further
consideration and development. A project idea is universal. However, a project
must be implemented in the background of factors such as
ü
• Technology
ü
• Equipment
ü
• Investment
ü
• Location
ü
• Market
Project
Formulation
ü
The process of studying a selected
project further with reference to investment decisions is called project
formulation. It considers issues such as relevance and feasibility of the
project. It involves a step-by-step procedure to investigate and develop
project further.
Posted
by Ravindra Dastikop 
0 comments:
Post a Comment