The project feasibility analysis is the process of ascertaining the viability of proposed initiative or service (project) and giving framework & guidance for its development & delivery. Sound decisions are made in this process along with the setting of direction. Project feasibility analysis include the following.
A project management is a group of techniques, methods and processes, which are used to achieve the goals, objectives and targets of a specific project. In project management first we need to analyze the root causes of specific project, we need to analyze the goals and objectives we wanna achieve, and then we need to come proper planning to achieve that goals and objectives. We may says that project is a set of skills and techniques, which are used to make any project successful.
Project proposal is an initial document that transforms an idea or policy into details of an effective project. It includes the outputs, outcomes, costs, stakeholders, major risks and an estimate of the time & resource required.
Project planning is performed to support later achievement. The path from idea to achievement is smoothened through planning techniques. Project planning is a complex procedure for management of the project and planning serves as map of this procedure. Sufficient details should be mentioned in the map about the next performing activities along with simplicity that will not confuse workers in the mixing of less important things.
Project scope management contains the processes that are employed to recognize all the work needed to successfully finish the project. Here sometime people confused with product scope and project scope. Product scope covers the functions & features, which included in a product or service. Effective finishing of product scope is evaluated against the requirements. On the other hand in the project scope management process, project scope covers the work that should be accomplished to provide the product with particular features and functions. Effective finishing of the project scope is evaluated against the plan.
Project standards are set by the Project Management Office and probably by the project management officer. The portfolio of projects of the organization is also look after by this office. This helps the organization to access the use of resources across all projects handle the disputes that influence the project timelines. The linkage of communities across projects is also better examined at the place of Project Management Office. There are certain reasons for the efficiency of the knowledge transfer by using the communities as linkage point like
There is certain project life cycle for every project, program or product in which there are particular phases of development. The managers & executives should have clear understanding of these phases in order to better control total corporate resources in the accomplishment of desired objectives. The phases of development are referred as life-cycle phases. In recent years companies of different industries or even same industries are not agreed on the universally accepted phases of project life cycle.
Mostly projects are complex & multi-faceted and therefore certain project management skills are required for effective management of these projects. A challenge is faced for managing these complicated projects which require skills in leadership, team building, technical expertise, conflict resolution, planning, organization, administration, management support, entrepreneurship and allocation of resources.
When it comes to the introduction to project management, here it is important to understand the project management first. Project management is the field of organizing & managing resources in an effective manner, so that these resources provide all the needed work to complete a project within specified scope, cost & time limitations. In fact the project is one-time and temporary effort to develop unique product or service that results in the addition of value or beneficial change. This one time & temporary undertaking make the project different from operations or processes which are semi-permanent or permanent continuous functional work to develop same product or service repeatedly. All these facts are included in the introduction to project management.
A problem scheduled for solution is called project. The gap between the current position and the desired position is referred to as problem and there may present some hindrance that precludes the convenient movement to fill the gap.
In past there were no alternative management techniques or project management methodologies that were promoting the project management usage. The growth of project management in non project driven sector was viewed during the recession of 1989 to 1993. There are many layoffs in the white collar or managerial ranks as a result of that recession. There was emergence for allies for project management and main focus was to provide long term solution to the problems. From that moment, project management was started. The project management allies started emerging in 1985 and remained throughout the recession of 1989-1993.