FUNDAMENTALS OF PROJECT MANAGEMENT

“A project is a temporary and one-time endeavour undertaken to create a unique product or service, which brings about beneficial change or added value. Projects are temporary and a one-time undertaking in contrast with process or operations, which are permanent or semi- permanent ongoing functional work to create the same products or services over and over again.”
TYPES OF PROJECTS
1.Type A (totally novel-no past experience)
2.Type B (past experience available)
REASONS FOR TAKING UP PROJECTS
1.Continuous improvement
2.Business strategy
3.Economic necessities
4.Technological changes and innovations
5.Competition
6.Business advancement
7.Financial gains
8.New production lines
9.Market potential

  1. Community need
  2. Political goals
  3. Environmental needs
  4. Rise in living standards
  5. Population growth
  6. Production imp

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