Answer to Question #172774 in Management for Prabhdeep

Question

PROJECT PLANNING AND CONTROL

Write short notes on the following: 

(a) Project identification, formulation and Planning.(please answer in 200 words)

(b) Factory design and layout. (please answer in 200 words)

Answer 1

Project identification is the procedure to assess each project idea and choose the most suitable project. The main goal of project identification is to create a primary proposal for the most suitable set of interventions and course of action, within a certain duration and budget frame to meet specific development purposes in a particular area. Additionally, sufficient information on the project options must be gathered to enable the selection of appropriate project Moreover, project identification involves;

1. Review of alternative methods or choices for handling a set of development problems and opportunities.

2. The identification of project goals and scope of work that is necessary to justify the dedication of resources for thorough formulation and respective preparatory research.

3. The identification of the main problems that must be rectified and the concerns to be addressed before a project based on the concept that can be executed.

The project formulation is a logical representation of a project plan with comprehensive estimates within particular parameters. Such estimates to be practical and reliable are based on experience and backgrounds along with anticipated trends for the prospective year. However, the project formulation requires a lot of practical support from the experts in their appropriate fields.

Project formulation aims to evaluate project potential with the ultimate objective of attaining an investment decision. nevertheless, project formulation generates an objective assessment from all logical steps beginning from project identification up to the appraisal stage. The initial project analysis consists of all factors such as technical, financial, commercial, economic, and managerial to determine whether the project is effective for comprehensive investigation and evaluation.

Project planning is the critical stage to take a project from an immaterial assumption to substantial results. the project manager is expected to gather a project plan for the project to be successful. Moreover, the project plan clarifies the scope, cost, and schedules for the project. The project plan identifies precisely what activities and tasks will be required as well as the resources needed such as workers, material, and capital. Adequate project planning also factors project risks and how to manage them, comprising of contingency plans and details of a communication technique to keep all stakeholders updated and onboard. Furthermore, project planning involves steps such as initiation, stakeholder involvement, prioritizing goals, identifying deliverables, scheduling, developing a project plan, and make a contingency plan.

Factory design and layout is the structure of physical facilities such as machinery, furniture, equipment among others within the factory building.

The evidence to adequate factory design and layout is the integration of the necessities of workers, customers, and machines in such a way that it develops a single well operational structure.

Factory design and layout are a vital element of the company's overall operations, both in terms of maximizing the effectiveness of the production procedure and fulfilling the employee's needs and desires. However, the essential purpose of the layout is to ensure a smooth progression of work, material, and information through a system. Additionally, The layout design of the factory space greatly affects the factory performance.