Answer to Question #186721 in Management for Prabhdeep Singh

Question

Subject: Project planning and Control

1.Write short notes on the following: (Please answer in 200 words)

-Project identification, formulation and Planning. 

2.What are the various stages in project identification, formulation and planning?(Please answer in 200 words)

Answer 1

Part 1

Project identifiction is the process of picking a particualr projet from a list of alternatives. That cn be done as a way of attendding to an identified need in the society. It involves listing all the activities that such a project can ndertake and evaluating its chances of success in dealing with the probem that has been identified.The formulation stage. There are three ways of project identification: organization strategic planning, need to respond to an urgent event and a group brough together to address a need.

In respect to project formulation there are severl things that are done. One of them is the monitoring and evaluation plan that helps in the monitoring and evaluation of a plan. Secondly, there is the drafting of work plan and budgte plan that sets out the technical specifications and resources required to oerationalise the project. Thirdly, it is the consolidation of the above into a complete document that can be shared to stakeholders.

Project planning is the stage at which phases of the projct are determined and the tasks required to compalete the same listed. n addditon the timelines required to complete such projects are set out and their resources listed.

Part 2

There are various stages in project identification, formulation and planning. There are five main stages : identification,prepare, appriasal, implemenatiaon and evaluation. In identification, a need is identified in response to a startegic plan, an event that has occured or a group plan. The process is repeative and involves documenting, validating, ranking and approving a project in response to the need. As for project formulation, the process involves preliminary project formulation, pre-feasibility study, feasibility study, support for functional studies detailed report. In respect project planning, timelines and consolidtin of document is done