project planning and implementation

Submitted by aslam on Sat, 09/05/2009 - 06:08 PROJECT PLANNING AND IMPLEMENTATION The dictionary meaning of project is speculative imagination. It deals with the three dimension innovation vision risk. So it is a scheme of something to be done in a viable framework. According to encyclopedia of management a project is an organized unit dedicated to the attainment of goal- the successful completion of a development project on time with in budget, in conformance with predetermined program specification. CHARACTERISTICS OF PROJECT 1. Investment phase 2. Expected return 3. Time limit 4. Location. 1. Investment phase- project require finding support for its successful identification and execution. Project involves capital investment for the purpose of developing production or services facilities. 2. Expected return- capital investment is required in project but returns are expected only after the project completion. A person invest funds in project only when he for see a viable operation in future. It means that there must be a series of expected return in future. 3. Time limit-project requires a timely completion, so efforts are needed to realize the objective or completion of project with a framework of approved time and cost schedule. 4. Location-site selection is a tough decision and its require to evaluate the suitability of options. Availability of consumer market in that particular area or easy accessibility to labour laws. A raw material affects the decision of site selection. PLANNING Planning is a written summery of what you hope to accomplish by being in work and how you intend to organize recourse to meet your goals PLANNING- MAJOR BENEFITS

1. Helps in reducing an emotional bias. 2. Provides SWOT (strength, weakness, opportunities and thesure) analysis. 3. Enable one to justify his/her plans &ideas. 4. Test the ideas on paper. 5. Helps one to develop a consistent strategy. 6. Helps in convincing other about the ideas. PROJECT MANAGEMENT It is the process of planning and directing a project from its inception to its completion in a given time at a given cost of time at a given cost to generate a given result. PHASE OF PROJECT MANAGEMENT Divided in a six broad phases. IDENTIFICATION SELECTION FORMULATION APPRAISAL IMPLEMENTATION REVIEW 1. INDENTATION- selection of a project after a careful scanning of the environment of investment opportunity & its likely return. 2. SELECTION- rational choice of a project in the light of objective & inherent constraints. 3. FORMULATION- translation of idea into a concrete project with scrutiny of its important preliminary aspects. 4. APPRAISAL- searching scrutiny, analysis &evaluation of market, technical, financial, & economic variable. Assessing the profitability, return on investment& breakdown points. 5. IMPLEMENTATION- expeditious completion with in the allocated recourses. 6. REVIEW- judicious operation of a project with objective like, maximization of net present value maximization of return and increase in the rate of return at low risk. PROJECT FORMULATION

Project formulation is an important strategy of pre investment phase. It refers to a series of steps to be taken to convert an idea or aspiration into a feasible plan of action STAGES OF PROJECT FORMULATION Process of project formulation involves following stages 1. Feasibility Analysis : This is very first stage in project formulation at this stage, the project ideas is examined from the point view to go in for a detailed investment proposal or not. 2. Techno Economic analysis: In this step, Estimation of project demand, Potential and choice of optimal technology is made market analysis is also built in this step. 3. Project Design and Network Analysis: This important step defines individual activities which constitute, the project and their interrelationship with each other a detailed work m plan of the project is prepared with time allegation for each activity and presented in a network drawing 4. Input Analysis: The step asses the input requirement during the construction of the project and also during the operation the project 5. Financial Analysis : this step mainly involves estimating the project cost , estimating its operating cost, and funds requirements. Financial analysis is also keeps in comparing various project proposal on a common Scale there by aiding the decision made 6. Cost Benefit Analysis : it is quantitative analysis. The overall value of a project is the main consideration here while the financial analysis justify a project from the profitability b point of view, Cost benefit analysis will consider the project from the overall viability point of view ( i.e. social, economical financial and ecological gain) 7. Pre Investment Phase: the project proposal a gets a formal and final shape at this stage, all the result obtained in the above steps are consolidated and various conclusion arrived at to a present a clear picture. IMPLEMENTATION Implementation means to carry out ,to accomplish ,to fulfill, or to give practical effect & to ensure fluffiness by concrete measure Implementation It involves the completion of numerous activities ( Project Component) by employing various resources men , material , money and time so that project is translated into concrete reality Project Implementation stages: The purpose of any successful project implementation is to ensure that the project activities are completed within the scheduled & with in budget provision.

1. Initiation the project 2. Specifying and scheduling the work 3. Clarifying authority, responsibility and relationship 4. Obtaining resources 5. Establishing a control system 6. Directing and Controlling 7. terminating the project initiating the project Project initiation is the first step which is similar in many ways to he preparatory stages of project formulation. It involves obtaining approval of the proposed strategies, Project plan relevant budget and selection of project major and other major formulation. specifying and scheduling the workAfter initiating the project , it becomes improvement to determine about the project plan by specifying the detail when , where and how the project activities would be done and whom would manage them in other words steps in the direction of defining the detail activity specification, Determining the inter relationship, specifying the manner of doing them, the person who are to mange them and likely duration by which the whole project is to be completed, have to be taken under the second stage. Following are some of the activities which are basically termed as important during course of project implementation Finalization of technological parameter Selection of equipment Preparation of layout Identification of infrastructure Training of manpower clarifying authority, responsibility and relationship In the various member of this project team are made to aware of their relationship between authority and responsibility For.eg. 1. Sponsoring organization would be responsible for all the policy matters related to the project 2. Project manager has to see that project objectives are economically and efficiently accomplished. 3. Activity manager has to ensure that a group of activities assigned to him are completed with in time by consuming minimum resources obtaining resources The discussion on resources would be taken up under the following three headings 1. Personnel 2. Finance 3. Material and equipment

1.personnel : The successful implementation of project depend on the efficiency and effectiveness with which personnel engaged at various levels undertake their task and achieve results In order to keep a track of the large variety of human resources required ILO has prescribed an international standard classification of occupations 2.finance There must be availability of funds at the start and through out the schedule and phased life of a project . the flow of resources has to be planned that activities of the project do not slow down or suffer a set back 3.material equipment during the implementation stage for a project for its smooth progress required machinery , plant, equipment and other materials. It is possible to determine the exact requirement and time schedule of a particular activity from network chart & aggregator the resources requirement profit for the total project of the span Establishing control system This stage Primary aim to designing and Establishing a Control System so that Management. At a different levels is not only able to direct and control the project from three parameters i.e. Time, Cost , And performance Directing and controlling Once the control system has been designed and established, now the management not only to motivate the staff for hard work but also to monitor and control the project functioning by taking immediate remedial measure based on an effective communication and decision making system. Terminating the project Literally termination means ending and in the context of project implementation, it spell out one of the four means Normal Termination When the project is completed within stipulated resources and time Non Termination : In this case the project become a normal functioning unit of the existing organization on its completion Early Termination : In this case , there is a termination of project on account of no factors such as change in policy and program concerned availability of more prospective proposals. In other words these deals with the abandonment of the existing project.