2PLANNING PROJECTProject planning: is part of projectmanagement, which relates to the use ofschedules such as (Gantt charts)* to planand subsequently report progress within theproject environment.Initially, the project scope is defined andthe appropriate methods for completingthe project are determined. * It will explain in next slide…..
3Gantt chartA Gantt chart is a type of bar chart, developed byHenry Gantt, that illustrates a project schedule. Ganttcharts illustrate the start and finish dates of the terminalelements and summary elements of a project. Terminalelements and summary elements comprise the workbreakdown structure of the project. Some Gantt chartsalso show the dependency (i.e., precedence network)relationships between activities. Gantt charts can beused to show current schedule status using percent-complete shadings and a vertical "TODAY" line asshown here.
4PLANNING PROJECT CONT….The logical dependencies between tasksare defined using an activity networkdiagram that enables identification of thecritical path. Float or slack time in theschedule can be calculated using projectmanagement software. Then the necessaryresources can be estimated and costs foreach activity can be allocated to eachresource, giving the total project cost……
5PLLANNING PROJECT CONT….At this stage, the project plan may be optimizedto achieve the appropriate balance betweenresource and project duration to comply withthe project objectives. Once established andagreed, the plan becomes what is known asthe baseline……
6PLANNING PROJECT CONT….. Progress will be measured against the baselinethroughout the life of the project. Analyzingprogress compared to the baseline is known asearned value management.The inputs of the project planning phase includethe project charter and the concept proposal.The outputs of the project planning phaseinclude the project requirements, the projectschedule, and the project management plan.
7The feasibility studyhelps to “frame” and“flesh-out” specificbusiness scenarios sothey can be studiedin-depth….. Feasibility Study:
8A Well-designed Feasibility Study ShouldProvide A Historical Background Of TheBusiness Or Project, Description Of TheProduct Or Service, AccountingStatements, Details Of The OperationsAnd Management, Marketing ResearchAnd Policies, Financial Data, LegalRequirements And Tax Obligations. Feasibility studies WHAT IS IT?Generally, Feasibility Studies PrecedeTechnical Development And ProjectImplementation
9A feasibility studyis valuable for:1.Starting a newbusiness2.Expansion of anexisting business3.Adding anenterprise to an Feasibility Study:existing business4.Purchasing anexisting business
10Reasons to Do a feasibilityStudy1.Gives focus to the project.2.Narrows the business alternatives.3.Identifies new opportunities.4.Identifies reasons not to proceed.5.Provides valuable information for “go/nogo” decision.
11Reasons to Do a feasibilityStudy6.Increases probability of business success byidentifying weaknesses early.7.Provides documentation that the idea wasthoroughly investigated.8.Helps attract funding from lenders, grantproviders, etc.9.Helps attract equity investment
12Feasibility Study Outline:1) description of the process2) market feasibility3) technical feasibility4) financial/economic feasibility5) organizational/managerial feasibility6)study results6.a)identify and describe various business scenarios.6.b)compare and contrast scenarios.6.c)outline criteria for decision making.
13Monitoring and evaluationAlthough the term “monitoring and evaluation”tends to get run together as if it is only onething, monitoring and evaluation are, infact, two distinct sets of organizational activities,related but not identical.
14Cont.….on monitoring and evaluation:Monitoring is the systematic collection and analysis of information as a projectprogresses.It is aimed at improving the efficiency and effectiveness of a project or organization. It isBased on targets set and activities planned during the planning phases of work. It helpstoKeep the work on track, and can let management know when things are going wrong. Ifdone properly, it is an invaluable tool for good management, and it provides a useful baseforEvaluation. It enables you to determine whether the resources you have available aresufficient and are being well used
15Cont.….on monitoring and evolution:Evaluation is the comparison of actual project impacts against the agreed strategic plans. Itlooks at what you set out to do, at what you have accomplished, and how you accomplishedit. It can be formative (taking place during the life of a project or organization, with theintention of improving the strategy or way of functioning of the project or organization). It canalso be summative (drawing learnings from a completed project or an organization that isno longer functioning). Someone once described this as the difference between a check-upand an autopsy!
16What monitoringand evaluationhave in common isthat they aregeared towardslearningfrom what you aredoing and how you 1. Efficiencyare doing it, by 2.Effectivenessfocusing on: 3. Impact
17Efficiency :Efficiency tells you that the input into the work isappropriate in terms of the output. Thiscould be input in terms ofmoney, time, staff, equipment and so on. When yourun a projectand are concerned about its reliability or aboutgoing to scale (see Glossary of Terms),then it is very important to get the efficiency elementright.
18Effectiveness:Effectiveness is a measure of the extent towhich a development programs or projectachieves the specific objectives it set. If, forexample, we set out to improve thequalifications of all the high school teachersin a particular area, did we succeed?
19Impact :Impact tells you whether or not what you did made a difference to the problem situation youwere trying to address. In other words, was your strategy useful? Did ensuring thatteachers were better qualified improve the pass rate in the final year of school? Before youdecide to get bigger, or to replicate the project elsewhere, you need to be sure that what youare doing makes sense in terms of the impact you want to achieve.From this it should be clear that monitoring and evaluation are best done when there hasbeen proper planning against which to assess progress and achievements.
20Investment criteria:A wide range of criteria has beensuggested to judge the worthwhileness ofinvestment projects. The importantinvestment criteria classified into two broadCategories:1.Discounting criteria2.non-discounting criteria
21Discountingcriteria:Take into accountthe time value ofmoney …….Non-discounting Investmentcriteria: criteria: 1.Discounting criteriaIgnore the timevalue of money 2.non-discounting criteria
22Investment criteria chart: Investment criteria Discounting Non-discounting criteria criteria Net Accounting rate Benefit cost Internal rate of Paybackpresent value ratio return period of return
23Net present value:Net present value is perhaps the mostimportant concept of finance.it isused to evaluate investment andfinancing decision that involve cashflows occurring over multiple periods.
24Benefit cost ratio:The proponents of benefit-cost ratio arguethat since this criterion measures netpresent value per rupee of outlay, it candiscriminate better between large andsmall investments and hence is preferableto the net present value criterion.
25Internal rate of return:The internal rate of return of project is thediscount rate which makes its NPV equal tozero. Put differently, it is discount rate whichequates the present value of future cashflows with the initial investment
26Payback period:andaccounting rate of return:The pay back period is the length of timerequired to recover the initial cash outlay onthe project……The accounting rate of return ,also calledthe average rate of return, is defined as:Profit after tax (divided) book value of the investment…….
27Is a quantitative methodology for studyingproperties related…………To connectivity and distances in graphs, withdiverse applications like citation indexingAnd information retrieval on the Web. Thehyperlinked structure of WikipediaAnd the ongoing, incremental editing processbehind it make it an interesting andUnexplored target domain for network analysistechniques.In this paper we apply two relevancemetrics, HITS and PageRank, to the wholeSet of English Wikipedia entries, in order to gain Network analysis:some preliminary insights on theMacro-structure of the organization of thecorpus, and on some cultural biases related DefinitionTo specific topics..
28SWOT analysis (alternately SLOTanalysis) is a strategic planningmethod used to evaluate theStrengths, Weaknesses/Limitations, Opportunities, and Threatsinvolved in a project or in abusiness venture. It involvesspecifying the objective of thebusiness venture or project andidentifying the internal andexternal factors that are swotfavorable and unfavorable toachieve that objective. Thetechnique is credited to AlbertHumphrey, who led a conventionat the Stanford Research Institute(now SRI International) in the1960s and 1970s using data fromFortune 500 companies.
30SwotSetting the objective should be done after the SWOTanalysis has been performed. This would allowachievable goals or objectives to be set for theorganization.Strengths: characteristics of the business, or projectteam that give it an advantage over othersWeaknesses (or Limitations): are characteristics thatplace the team at a disadvantage relative to othersOpportunities: external chances to improveperformance (e.g. make greater profits) in theenvironmentThreats: external elements in the environment thatcould cause trouble for the business or project
31Swot Identification of SWOTs is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs. First, the decision makers have to determine whether the objective is attainable, given the SWOTs. If the objective is NOT attainable a different objective must be selected and the process repeated.
32Use of SWOT analysis:The usefulness of SWOT analysis is not limited toprofit-seeking organizations. SWOT analysis maybe used in any decision-making situation whena desired end-state (objective) has beendefined. Examples include: non-profitorganizations, governmental units, andindividuals. SWOT analysis may also be used inpre-crisis planning and preventive crisismanagement. SWOT analysis may also be usedin creating a recommendation during a viabilitystudy/survey.
33Criticism of SWOT:Some findings from Menon et al. (1999) and Hill andWestbrook (1997) have shown that SWOT may harmperformance. Other complementary analyses havebeen proposed, such as the Growth-share matrix Strengths Weaknesses Opportunities Threats Reputation in Shortage of Well established Large consultancies marketplace consultants at position with a well operating at a minor operating level defined market level rather than partner niche level Expertise at partner Unable to deal with Identified market for Other small level in HRM multi-disciplinary consultancy in areas consultancies consultancy assignments because other than HRM looking to invade the of size or lack of marketplace ability