INTRODUCTION
The first and one of the critical steps in the project cycle management is the identification and selection process. This is an important stage such that it can affect the whole process including that of sustainability of the project after completion and transferring to operational phase.
A Project activities aimed at bringing about clearly specified objectives within a defined time-period and with a defined budget.
A Project is:
- A group of milestones or phases, activities or tasks that support an effort to accomplish something.
- A combination of Human and non-human resources put together in a temporary organization to achieve a specific purpose.
- A set of skills. Specialist knowledge, skills and experience are required to reduce the level of risk within a project and thereby enhance its likelihood of success.
- A “cutting edge of development†or as “building blocks of development.â€
- A Scientifically evolved work plan devised to achieve a specific objective within a specific period of time. It can be considered as proposal involving capital investment for the purpose of developing facilities to provide goods and services.
Project Identification and Project Selection of the need
Project Identification and selection is a process to assess each project idea and select the project with the highest priority.
Project Identification: The process of identifying a candidate idea for developing into a project is called Project Identification. This is a systematic process. Project Identification process starts with the generation of a product idea. In order tos elect the most promising project the entrepreneur needs to generate a few ideas about the possible projects.
Project Selection: Project selection starts from where project identification ends. Project selection is a careful study of each project idea in detail and choosing one of them for further consideration and development.
It is not too difficult to find good projects in need of investment or other assistance. Project identification & selection typically starts with generating ideas. The biggest challenge is to select the ideas that have the highest chance of becoming beneficial projects. To help in this process, practitioners can use an organized approach for narrowing down and moving forward with the ideas that can be best converted into projects.
Project Identification & Selection could be from several sources:-
Progressive Farmers
Entrepreneurs
Technical Experts
Local leaders
Bankers
Mass Media
National Policies
Our Team has simplified the process for you by providing a “Free Instant Online Project Identification & Selection” search facility to identify projects based on multiple search parameters related to project costs namely: Plant & Machinery Cost, Total Capital Investment, Cost of the project, Rate of Return% (ROR) and Break Even Point % (BEP).
You can sort the projects on the basis of mentioned pointers and identify a suitable project matching your investment requisites.
Looking for project investment? (enter your search criteria)
- Plant and machinery cost (In Lakhs)
- C.I (In Lakhs)
- Cost of Project (In Lakhs)
- Rate of return (ROR) (in %)
- Break Even Point (BEP)(in %)
For more details visit at:
http://www.entrepreneurindia.co/ Â Â
Contact us:
Niir Project Consultancy Services
106-E, Kamla Nagar, Opp. Spark Mall,
New Delhi-110007, India.
Email: npcs.ei@gmail.com , info@entrepreneurindia.co
Tel: +91-11-23843955, 23845654, 23845886, 8800733955
Mobile: +91-9811043595
Website: www.entrepreneurindia.co  , www.niir.org
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