Project Management Module II

What is Project Management?
• Project management is a set of principles and tools for
– – – – – Defining Planning Executing Controlling . . . and Completing a PROJECT

• Projects have a finite duration. . • There is something unique about every project. • Projects require coordination of interrelated activities.Project Management Criteria • Projects are oriented towards a goal.

what is to be done -.Scoping the project A short.why it is to be done -.value it provides if it is done . crisply phrased piece of information covering -.

Innovation idea Analyze market. Check yourself . customers and environment. Analyze your existing business Sources for innovative idea Evaluation level Implementation Results Check your idea.

New-Product Development Process .

Preliminary screening • • • • • • Compatibility with the promoter Consistency with governmental priorities Availability of inputs Adequacy of market Reasonableness of cost Acceptability of risk level .

LOCATION & SITE 6. Import & Export 6. EQNIPMENT CHOICE 5. WORK SHEDULE FINANCIAL APPRAISAL 1. Impact on Society 3. PRODUCTION TECHNOLOGY 3. LAYOUT 7. PRODUCTMIY 4. Profitability 5. Self sufficiency 4. Cost 5. Cost & Benefit 2. Consumer Behavior TECHNICAL APPRAISAL 1. Distribution Channels . INPUTS 2. Competition 4. Breakeven 6. Investment Worthiness Economic Appraisal 1. Supply 3. Cash flow 7. Cost 4. Employment 7. Financial 3.Feasibility Analysis INTERNAL ENVIRNMENT IDEACOLLECTION New product development EXTERNAL ENVERONMENT Feasibility Study MARKET APPRAISAL 1. Investment 2. Demand 2.

Plans must be regularly revised as new information becomes available. • Continuous activity from initial concept through to system delivery. .Project planning • Probably the most time-consuming project management activity. • Various different types of plan may be developed to support the main project plan that is concerned with schedule and budget.

Project planning process Establish the project constraints Make initial assessments of the project parameters Define project milestones and deliverables while project has not been completed or cancelled loop Draw up project schedule Initiate activities according to schedule Wait ( for a while ) Review project progress Revise estimates of project parameters Update the project schedule Re-negotiate project constraints and deliverables if ( problems arise ) then Initiate technical review and possible revision .

• Dependent on project managers intuition and experience.Project scheduling • Split project into tasks and estimate time and resources required to complete each task. . • Minimize task dependencies to avoid delays caused by one task waiting for another to complete. • Organize tasks efficiently to make optimal use of workforce.

Project implementation stages • • • • • • • • • Project integration Project Management Project Deadlines Management Project Costs Quality Control Human Resources Management Communication Project risks management Supply management .

Sustainability .Monitoring and Evaluation The Five Evaluation Criteria 1. Effectiveness 3. Impact 4. Relevance 5. Efficiency 2.

as a result of the Implementation of the project. The degree to which Inputs have been converted into Outputs. • Impact Positive and negative changes produced. • Effectiveness The degree to which the Project Purpose has been achieved by the project Outputs. .• Efficiency The productivity in project implementation. directly or indirectly. • Relevance The validity of the Overall Goal and Project Purpose at the evaluation stage. • Sustainability The durability of the benefits an and development effects produced by the project after its completion.

• Innovation activities are one of the important reactions to the challenges.Innovations and entrepreneurship • Innovation and entrepreneurship are considerer in Union as increasing economics vector. . competitiveness and rural development. • The successful entrepreneurial is usually based on a significant innovation.

bringing an invention to market and users  Innovation is planned . product and design engineers lawyers and marketing specialists financial and production managers sales. advertising and distribution specialists entrepreneurs .Innovation  Process .does not happen by chance  Requires team work and cooperation inventors and researchers process.

Innovation Entrepreneur . science and technology. failure. invention and innovation .play-maker  bring together all those who make innovation a success Success function of  competitive advantages offered by innovation  social and economic environment open to change and progress  general attitude towards risk.

Features of Innovation • Novelty: Innovation is something new • Function • Technic • Design (?) • Implementation: Innovation is introduced into market • Modification: A innovation should cause a change/improvement .

Types of innovation .

and service . services.Incremental Innovation • Incremental innovation refers to simple changes or adjustments in existing products. sales. is the process of trying to find ways to improve and enhance a company’s products and processes from design through assembly. or processes • Continuous improvement.

technology.Breakthrough Innovation • A breakthrough innovation is an innovation in a product. or the cost associated with it that represents a quantum leap forward in one or more of those ways Breakthrough approaches to innovation are inherently more risky than incremental innovation approaches • . process.

Corporate Entrepreneurship • Entrepreneurs – Individuals acting independently or as part of an organization who create a new venture or develop an innovation and take risks entering innovations into the marketplace – Can be any manager or employee in an organization • Corporate entrepreneurship – Process whereby an individual or a group in an existing organization creates a new venture or develops an innovation .

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What is a Business Plan • Roadmap to success • Written document describing all relevant internal and external elements and strategies for starting a new venture • Where I am Where am I going • How to get there? • Guide and structure to manage in the dynamic world. .

WHO needs a Business Plan? 3. WHAT is a Business Plan? 2.For preparing a Business Plan we must answer a following questions: 1. HOW to prepare a Business Plan? .

Contents of a business plan 1 Title page 2 Executive summary • Vision and Mission statement • Fact sheet 3 Company Plan • Company description • Operating plan • Organizational plan .

Pricing • Industry trends 5 Financial Plan • Summary of financial needs • Sources and uses of fund • Cash flow statement .Contents of a business plan 4 Marketing Plan • Market description& Target Market • Competition analysis • Advertising.

Contents of a business plan • Three year income projection • Break even analysis • Balance sheet • Income statement • Risk assessment & business Financial history 6 Supporting documents • Personal resumes • Personal financial statements • Credit reports • Letter of reference .

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