This document discusses project management and the project identification process. It defines a project as having well-defined objectives and timelines. Project management is applying processes, methods, and skills to achieve project objectives on time and on budget. The key steps in project identification are conceiving project ideas from various sources, choosing the right industry, seeking opportunities, and making final decisions. Project management helps define plans, establish schedules, create teamwork, maximize resources, manage costs and risks, and handle changes. It is crucial for completing projects successfully.

1. PROJECT MANAGEMENT
Dr.S.BELLARMIN DIANA
ASSISTANT PROFESSOR
DEPARTMENT OF MANAGEMENT STUDIES
BON SECOURS COLLEGE FOR WOMEN, THANJAVUR

2. INTRODUCTION TO PROJECT
In common parlance, the word ‘project’ has been
used to connote ‘any program of action’.
Exmple: agricultural projects, illiteracy eradication
project, land development project and so on.
‘Project’ is an idea or a plan that is intended to be carried out
in the future or that is being carried at preset.

3. DEFINITION
“A project is any scheme or a part of a scheme for investing resources,
which can be reasonably analyzed and evaluated as an independent
unit. It may be any item of investment activity, which can separately be
evaluated”
-Little and Mirless
“A project is the whole complex of activities involved in using resources
to gain benefits”
-Gittinger
“A project is an economic activity with well defined objectives and
having specific beginning and end.”
-Vasant
Desai

4. Characteristics of a Project
The project is essentially an investment plan
The project begins with precise and clear objectives
The project determines the direction of future actions of an
entrepreneur
It outlines the allocation of resources

5. Characteristics of a Project
The project has a specific geographic location
The scientific and reasonable analysis and appraisal is done in the project with respect
to financial and technical aspects.
The project has specific beginning and terminating points
Commercial viability is the soul of the project

6. PROJECT CLASSIFICATION
Project
classification
Little and Mirrles’s classification
Sector- wise classification
Techno-economic classification
Other classification

7. PROJECT CLASSIFICATION
Little and Mirrles’s classification
Non-quantifiable
projects
Quantifiable
projects

8. PROJECT CLASSIFICATION
Sector-wise
classification
Agriculture and
Allied Sector
Irrigation and
Power Sector
Industry and
Mining Sector
Transport and
Communication
Sector
Social Services
Sector
Miscellaneous
Sector

9. PROJECT CLASSIFICATION

10. PROJECT CLASSIFICATION

11. PROJECT MANAGEMENT
Meaning
Project management is the application of skills, tools, and techniques to project
project activities in order to meet project requirements. It is the act of managing
managing all aspects of a project, from team to tasks to tools.
Project management is the application of processes, methods, skills, knowledge
and experience to achieve specific project objectives according to the project
acceptance criteria within agreed parameters. Project management has final
deliverables that are constrained to a finite timescale and budget.

12. Significance
Clearly defines the plan of the project before it begins: The importance of
planning in project management cannot be ignored. The more complex
project, the more scope there is for chaos. One of project management’s
primary functions is to tame the chaos by mapping out a clear plan of the
the project from beginning to end.
Establishes an agreed schedule and plan: Schedules help to eliminate delays or
overruns and provide a plan to be followed for all those involved with the
the project.
Creates a base for teamwork: People are required to work in a team on a
project. This is due to team synergy benefits through the sharing and support
support of knowledge and skills. Bringing people together in this way inspires
inspires team members to collaborate on a successful project.

13. Significance
Resources are maximized: Both human and financial resources tend to be
expensive. Project tracking and project risk management ensure that all
resources are used efficiently and are accounted for economically.
Helps to manage integration: Projects that are completed within an
organisation are generally integrated with wider business processes and
systems. Integration forms the value aspect of projects and their management.
management.
Helps to keep control of costs: Depending on the scope of the project, some
projects can incur organizations significant costs. It is important therefore to
therefore to keep on budget and to control spending. Project management
management greatly reduces the risk of budget overruns.

14. Significance
Helps to manage change: Today, more than ever, change is something which all organizations
face. Projects, during their running, also face changes and must be prepared to face such
deviations from the original plan. Project management allows for effective change management
management and makes it less of a complex task.
Quality is continuously managed: More so than ever, it is important to produce quality results.
Project management helps to identify, manage and control quality. Quality results make clients
clients happy, which is a win-win situation for all involved.
Knowledge: The more projects a business undertakes, the more knowledge it will acquire over
time. This will serve as an asset to any business and project management helps to capture and
and retain knowledge.
Creates an opportunity for learning: Sometimes, projects work out perfectly and other times,
project fail miserably. Either way, much can be learned from previous experience and past

15. PROJECT MANAGEMENT LIFE CYCLE

16. PROJECT IDENTIFICATION
MEANING
Project identification means a process of finding out the most
appropriate project from among the several investment opportunities
According to Dr. Vasant Desai the project identification is concerned
with the collection, compilation and analysis of economic data for the
eventual purpose of locating possible opportunities for investment.

17. SOURCES OF PROJECT IDEA

18. STEPS IN PROJECT IDENTIFICATION
STEPS IN
PROJECT
IDENTIFICATION
Conceiving
project
ideas
Choosing
the right
line of
business
Opportunity
seeking
Decision-
making
process

19. Conceiving project ideas
Conceiving the project idea is mental process Supported by certain
virtues like curiosity, initiative, vision and courage.
The project idea could emerge from one or more of the following
sources.
a. Success stories of friends, relatives and other entrepreneurs.
b. Increasing demand for certain products in home market and
foreign markets where price advantage could be obtained.
c. Experience of others in manufacture or sale of a product
d. Chances of producing a substitute of an article imported for
which there is a good demand in home country.

20. Conceiving project ideas
The project idea could emerge from one or more of the following
sources.
e. Visit to trade fairs and exhibitions
f. Study on demand supply imbalance
g. Government’s industrial, import-export policies and the policies
for development of backward area
h. Survey reports, books, periodicals, news papers

21. Choosing the right line of business
The second important step in project identification is
choosing the right line of business. To ensure the success of
business, the prospective entrepreneur has to spend
considerable time and energy on choosing the right line of
activities. While doing so he has to examine the business
potential of his ideas

22. Opportunity seeking
An entrepreneur is basically an opportunity seeker. A number business
opportunities may be available, however, seeking the right business
opportunity depends upon the entrepreneur’s capabilities, his strengths and
weaknesses and also on his preferences. Identification of appropriate business
opportunity requires specialized skills. Before coming to the final decision, he
has to explore and analyze all possible opportunities.

23. Decision making process
This final step in project identification involves making
important decisions regarding the project to be undertaken.
While taking decisions, the prospective entrepreneur has to go
through following steps.
 Selection of broad industry group
 Selection of specific project
 Final decision

24. THANK YOU