Bissiness case

A type of decision-making tool used to determine the effects a particular decision will have

on profitability. A business case should show how the decision will alter cash flows over
a period of time, and how costs and revenue will change. Specific attention is paid
to internal rate of return (IRR), cash flow and payback period. Analyzing
the financial outcomes stemming from choosing a
different vendor to sell a company'sproduct is an example of a business case

objective

• The problem or situation addressed by the proposal;

• The features and scope of the proposed initiative;
• The options considered and the rationale for choosing the solution proposed;
• The proposal’s conformity with existing policies, etc;
• The implementation plan;
• The expected costs;
• The anticipated outcomes and benefits; and
• The expected risks associated with the proposal’s implementation.

A business case can be considered as the predecessor for any project. In brief, this is the "sales
pitch" that is presented to management to acquire approval to proceed with the project. A business
case can be presented in the form of a structured and defined document (many larger companies
have project business case templates that must be used to comply with the business rules and
processes). A business case for a project may also be in the form of a presentation or slide show. Or,
a project business case may simply be a written document for presentation to management. In any
case, there are some key components that must be included in any business case for a project

Features of Mumbai pune express ways

1. India's first six lane access control expressway.
2. Speedy completion of work.
3. Use of modern technology & machineries.
4. Construction of expressway is done as per international standard.
5. For safety of traffic compound wall / fencing is proposed on both side of expressway.
6. Underpass / Overpass has been provided for the state highway and other road crossings.
7. Ban on two wheelers, three wheelers and tractors vehicles.
8. Provision of subways for villagers at every 300 to 500 meters distance.
9. Project is on Build - Operate - Transfer (BOT) basis.
10. Government has given guarantee for raising of funds from financial institutions.
11. To cater to traffic of Kalyan, NH17, Pen, Ahmednagar, Chakan, etc., five interchanges have been proposed.
12. Cranes are provided to lift and remove accident vehicles.
13. Provision of Petrol pumps / motels / workshops etc.
14. Provision for 7000 trees plantation on both sides of expressway.
15. Five tunnels of international standards.
5 Basic Phases of Project Management
Project Management Institute, Inc. (PMI) defines project management as "the application of
knowledge, skills, tools and techniques to a broad range of activities in order to meet the
requirements of a particular project." The process of directing and controlling a project from start
to finish may be further divided into 5 basic phases:

1. Project conception and initiation

An idea for a project will be carefully examined to determine whether or not it benefits the
organization. During this phase, a decision making team will identify if the project can realistically
be completed.

2. Project definition and planning

A project plan, project charter and/or project scope may be put in writing, outlining the work to
be performed. During this phase, a team should prioritize the project, calculate a budget and
schedule, and determine what resources are needed.

3. Project launch or execution

Resources' tasks are distributed and teams are informed of responsibilities. This is a good time to
bring up important project related information.

4. Project performance and control

Project managers will compare project status and progress to the actual plan, as resources
perform the scheduled work. During this phase, project managers may need to adjust schedules
or do what is necessary to keep the project on track.

5. Project close
After project tasks are completed and the client has approved the outcome, an evaluation is
necessary to highlight project success and/or learn from project history.

Projects and project management processes vary from industry to industry; however, these are
more traditional elements of a project. The overarching goal is typically to offer a product,
change a process or to solve a problem in order to benefit the organization.

PROJECT PLANNING
Project planning is a discipline for stating how to complete a project within a certain
timeframe, usually with defined stages, and with designated resources. One view of project
planning divides the activity into:

 Setting objectives (these should be measurable)

 Identifying deliverables
 Planning the schedule
 Making supporting plans
Supporting plans may include those related to: human resources, communication methods,
andrisk management.

Computer hardware and software project planning within an enterprise is often done using
a project planning guide that describes the process that the enterprise feels has been
successful in the past.

Tools popularly used for the scheduling part of a plan include the Gantt chart and the PERT
chart.

Risk management consists of - risk perception, risk analysis, and risk

preparedness.

Risks may be divided into three tiers. In the lower band, the public readily accepts
risks because benefits are felt to outweigh the disadvantages. In the upper band,
risks are regarded as completely unacceptable and must be reduced even at very
high cost or, if not possible, the activities must cease. The intermediate region is
one in which decisions on risk reduction are made by trading off associated costs
and benefits.

Traditionally, the field of risk management has three elements - identification of

risks, risk assessment and implementaton of solutions and plans.

Risk Assessment consists of

identification
quantification
evaluation
acceptance
aversion
control
Risk Management
Risk Assessment
Risk Control
Risk Determination Risk Evaluation
implement:
Risk Risk Estimation Risk Risk Aversion - protection
Identification Acceptence works
determine: determine: - non-structural
- probability of - degree of risk measures
identify: establish:
- new risks occurances - risk references reduction
- change in risk - magnitiude of - risk referents - degree of risk
parameters consequence value avoidance

Steps in Risk Management

Source: Keynote address by Roger Smook 
 at the Risk Assessment and Management Congress 
in Ogaki, Japan - September 1997

Risk assessment is defined as "The overall process of risk identification,

quantification, evaluation, acceptance, aversion and management." Risk
management is the managerial response based on the resolution of various policy
issues such as acceptable risk. Risk management decisions are made by
considering risk assessments within the context of political, social and economic
realities. Such decisions are frequently controversial due to the difficulty in
determining risks that are acceptable to the public.

Risk assessment includes risk determination and risk evaluation. Risk management
includes risk assessment and risk control.

Risk determination involves the related processes of risk identification and risk
estimation. Risk identification is the process of observation and recognition of new
risk parameters or new relationships among existing risk parameters, or perception
of a change in the magnitudes of existing risk parameters.

Risk, at the general level, involves two major elements: the occurrence probability
of an adverse event and the consequences of the event. Risk estimation,
consequent-ly, is an estimation process, starting from the occurrence probability
and ending at the consequence values.

Risk evaluation is a complex process of developing acceptable levels of risk to

individuals, groups, or the society as a whole. It involves the related processes of
risk acceptance and risk aversion.

Risk acceptance implies that a risk taker is willing to accept some risks to obtain a
gain or benefit, if the risk cannot possibly be avoided or controlled. The acceptance
level is a reference level against which a risk is determined and then compared. If
the determined risk level is below the acceptance level, the risk is deemed
acceptable. If it is deemed unacceptable and avoidable, steps may be taken to
control the risk or the activity should be ceased. The perception and the acceptance
of risks vary with the nature of the risks and depend upon many underlying factors.
The risk may involve a "dread" hazard or a common hazard, be encountered
occupationally or non-occupationally, have immediate or delayed effects and may
effect average or especially sensitive people or systems.

Risk aversion is the control action, taken to avoid or eliminate the risk, regulate or
modify the activities to reduce the magnitude and/or frequency of adverse affects,
reduce the vulnerability of exposed persons, property or in this case urban systems,
develop and implement mitigation and recovery procedures, and institute loss-
reimbursement and loss-distribution schemes.

Write short notes on Stakeholders.

Stakeholders are an integral part of a project.They are the end-users or clients, the people from
whom requirements will be drawn, the people who will influence the design and, ultimately, the
people who will reap the benefits of your completed project.

It is extremely important to involve stakeholders in all phases of your project for two reasons:
Firstly, experience shows that their involvement in the project significantly increases your
chances of success by building in a self-correcting feedback loop; Secondly, involving them in
your project builds confidence in your product and will greatly ease its acceptance in your target
audience.

Management is not accountable solely to Investors (Shareholders), but to other

interest groups / constituents who are affected by corporate activity. The word
“Stakeholders” describes such constituents of an organization – the individuals,;
groups or other organizations which are affected by, or can affect the organization in
pursuit of its goals. Stakeholders of a company would include-
Employees, suppliers, Government,
Trade Unions, Shareholders and investors, Industry as a whole, and
Customers, Competitors, Society at large.

Feasibility report
A project report or feasibility report is a written account of various activities to be undertaken by a
firm and their technical, financial, commercial an social viabilities. In other words, the project
report states as to what business is intended to be undertaken by the entrepreneur and whether it
should be physically possible, financially viable, commercially profitable and socially desirable to do
such a business. The preparation of such a statement serves three important objectives:

1. It facilitates planning o business by setting guidelines for future action. 

2. It helps in procuring finance from various financial institutions and banks which ask of such
detailed information before giving any assistance. 

3. It provides a frame work for the presentation of the information regarding business required by
Government for granting licenses, etc.