Project
  • Project is one off.
  • Project refers to investment activity.
  • It is objective oriented and time, space and 
   cost specific. 
  • Its very orientation is autonomous as it seeks 
   to be promoted at control level.
      Projects Originate …
  •  A market demand (e.g. an oil company 
   authorizes a project to build a new refinery in 
   response to chronic gasoline shortages)
  •  An organizational need (e.g. a training 
   company authorizes a project to create a new 
   course in order to increase its revenues)
  •  A customer request (e.g. an electric utility 
   authorizes a project to build a new substation 
   to serve a new industrial park)
  • A technological advance (e.g. a software firm 
   authorizes a new project to develop a new 
   generation of video games after the 
   introduction of a new game-playing 
   equipment by electronics firms
  • A legal requirement (e.g. a paint manufacturer 
   authorizes a project to establish guidelines for 
   the handling of anew toxic material)
       Project Life Cycle
  • Phases: 
      Initial, Intermediate, Final 
  • Inputs: 
     Idea, Project Management Team
  • Project Management Outputs:
     Charter, Scope Statement, Plan, Baseline, 
   Progress, Acceptance, Approval, Handover
  • Project Deliverable: Product
        Phases of project
  • Project  moves from one phase to another and 
   ultimately it leads to new cycle to roll on. The 
   key phases of the life cycle are:
  • Identification
  • Formulation
  • Appraisal/Financing
  • Implementation
  • Evaluation