PROJECT IDENTIFICATION

2. Project identification
⚫Toidentify the projects/solutions for a particular
problem based on various factors is termed as project
identification.
⚫There could be numberof possible solutions fora
single problem , so having idea of thatsolution or
identifying those various solutions is project
identification

3. Project selection
⚫Project identification
⚫Projectappraisals
⚫Projectselection

4. Project identification
Objectives
strength
opportunity
weakness
threat
Alternative project
possibilities

5. Project selection
⚫Basically the process of project identification isa
processof searching for new ideas.
⚫ Howdowesearch for new ideas?
⚫ Obviouslywe must first find outwhatare our
objectives
⚫Areourobjectives to make money
⚫Arewe trying to help people in disasterwithout
expecting any monetary returns?

6. ⚫Depending upon whatyourobjectives areyour projects
would bedifferent and very different.
⚫ Onceyou have identified yourobjectives invariably
you will have to brainstorm to generate alternative
solutions

7. Search new ideas
⚫Whatare objectives ?
⚫Brainstorm togenerate alternate solutions
Emerging market trends
SWOT analysis
Otherconstraints
⚫Shortlistcandidates ideas fordetailed scrutiny

8. What is the motivation for this
⚫Projectsare means toaccomplish
Individual or familyobjectives
Organizational objectives
National orglobal objectives
⚫Projectresponse begins in response tospecific need or
theobjective

9. Objectives
⚫To increase profit
⚫To increase threat to losses
⚫To become more competitive
⚫To provide helpafterdisaster
⚫To train people in new area
⚫To reduce pollution in delhi

10. SWOT analysis
⚫Strength
⚫Weakness
⚫Opportunity
⚫Threats

11. Strength
⚫ whatdoyou mean by strength of an organization or
strength of an individual?
⚫Typically in the strengths you could cover things like
what isyourexperienceand what isyourexpertise in a
particulararea?
⚫What is the financial position?
⚫How much moneyyou have?
⚫How much money can you raise and therefore as a
companydepending on your financial position you can
contemplate whatsort of projectsyou can go into.

12. ⚫What’s the amount of money thatyou can invest?
⚫What isyourcapital raising capability?
⚫Whatare your industrial contacts

13. Strengths
⚫Experienceand expertise
⚫Financial position
⚫Capital raising capability
⚫Industrial contacts
⚫foreign collaboration

14. Weakness
⚫The unfamiliaritywith new technologies could bea
majorweakness
⚫Inability toraise huge investments is alsoa weakness
⚫Lack of experience is in factavery majorweakness
⚫ Lack of trained personnel in a particulararea is again
aweakness.
⚫Inability to forecast market trends again could bea
very big weakness

15. Weaknesses
⚫New unfamiliar technologies
⚫Inability toraise huge investments
⚫Lack of experience
⚫Lack of trained personals
⚫Inability to forecast market trends

16. Opportunities
⚫The opportunities could be the emergence of new
technologies.
⚫There are new products coming up.
⚫Becauseof better technology new processes may be
developed which have better features
⚫Special financing schemescould be opportunities.
⚫Government and other incentives

17. Opportunities
⚫Emerging new technologies
⚫New products with new market
⚫New processes with better features
⚫Special financing schemes
⚫Government and other incentives

18. Threats
⚫Competitorscould be one of the big threats to
business
⚫ The poor state of the economy could be a threat
because if the buying powerof the people is low they
cannot buy products
⚫ Outdated technologies are threat.
⚫Unprofessional management skillscould also be avery
big threat in today’s competitiveworld.

19. Threats
⚫Competitors
⚫Poorstateof economy
⚫Outdated technology
⚫Unprofessional management skills
⚫New products and services

20. Where do ideas come from??
⚫Youcould have the marketing and sales people coming
upwith an idea fora new product
⚫Top management is generally responsible forgiving
ideas for new products and also for new projects
⚫The production department will be sometimes giving
you ideas about new products

21. ⚫Marketing and salesdepartment
⚫Research and development
⚫Top management
⚫Production department
⚫Consumers

22. Brainstorming
⚫all the top management or the people concerned get
together let us say in a group and then they brainstorm
and the information that is provided is the objectives
thatyou want toachieveand the SWOT analysis.
⚫A brainstorming is a good means toachieve this kind
of innovation and togenerate new project ideas.

23. Brain storming
⚫A good means togenerate new product ideas
⚫Focuson uninhibited participation of group
⚫Listing of ideaswithout suppressing creativityat the
source
⚫Listof ideas subjected toscreening and evaluation
subsequently

24. Screening of the new ideas
⚫onecould think in terms of criteria likewhat is the
costof the idea?
⚫ What is the risk involved?
⚫ What is the return if I implement this idea and is ita
hazardous thing?
⚫Does it mean a threat to life or property orgroups of
people

25. Criteria in screening projects
⚫Investment
⚫Rateof return
⚫Risk
⚫Profit
⚫Payback
⚫Similarity toexisting business
⚫Expected life
⚫Flexibility
⚫Environment
⚫Competition

26. Screening process