Generation and Screening of Project Ideas-Project Management-Lecture Slides, Slides for Project Management. Tezpur University Gate

Project Management

Description: This lecture is part of lecture series on subject of Project Management at Tezpur University Gate. Instructor name is Rajkumari Vishaka. It includes: Generation, Screening, Project, Ideas, Environment, Corporate, Appraisal, Preliminary, Sources, Entrepreneur

Generation and Screening of Project Ideas 1. 2. 3. 4. 5. 6. 7. 8. 9. Generation of Ideas Monitoring the Environment Corporate Appraisal Profit potential of Industries: Porter’s Model Scouting for project ideas Preliminary screening Project rating index Sources of positive net present value On being an entrepreneur 1 1. Generation of Ideas  Stimulating the flow of ideas  SWOT analysis  Clear articulation of objectives      Cost reduction Productivity improvement Increase in capacity utilization Improve in contribution margin Expansion into promising fields  Fostering a conducive work environment 2 2. Monitoring the Environment 1. 2. 3. 4. 5. 6. Economic Sector Government Sector Technological Sector Socio-demographic Sector Competition Sector Supplier Sector 3 2. • • • • • • • Monitoring the Environment State of the economy Overall rate of growth Growth rates of primary/secondary/tertiary sectors Cyclical fluctuations Linkage with the world economy Trade surplus/deficits Balance of payment situation 1. Economic Sector 4 2. • • • • • • • Monitoring the Environment Industrial policy Government programmes and policies Tax framework Subsidies, incentives and concessions Import and export policies Financing norms Lending conditions (FIs and CBs) 2. Government Sector 5 2. Monitoring the Environment 3. Technological Sector • • • Emergence of new technologies Access to technical know-how Receptiveness on the part of industry 6 2. • • • • • • Monitoring the Environment 4. Socio-demographic Sector Population trends Age distribution and shifts Income distribution Educational profile Employment of women Attitudes towards consumption and investment 7 2. • • • • • Monitoring the Environment 5. Competition Sector Number of firms in the industry and their market shares Degree of h

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omogeneity and differentiation among products Entry barriers Comparison with substitutes Marketing policies and practices 8 2. Monitoring the Environment 6. Supplier Sector • • • Availability and cost of raw materials and subassemblies Availability and cost of energy Availability and cost of money/capital 9 3.      Corporate Appraisal Marketing and distribution Production and Operations Research and development Corporate resources and personnel Financing and accounting 10 4. Profit potential of Industries: Porter’s Model  Five basic competitive forces      Threat of new entrants Rivalry among existing firms Pressure from substitute products Bargaining power of buyers Bargaining power of sellers 11 Forces Driving Industry Competition Potential Entrants Suppliers The Industry Rivalry among existing firms Buyers Substitutes 12 5.      Scouting for project ideas Analyze the performance of existing industries Examine the inputs and outputs of various industries Review imports and exports Study plan outlays and government guidelines Look at suggestions of financial institutions and development agencies  Investigate local materials and resources  Analyze economic and social trends 13 5.        Scouting for project ideas cont’d Study new technological developments Draw clues from consumption/trends abroad Explore the possibility of reviving sick units Identify unfulfilled psychological needs Attend trade fairs Stimulate creativity for generating new product ideas Hope that the chance factor will favor you 14 6.       Preliminary screening Compatibility with the promoter Consistency with government priorities Availability of inputs Adequacy of market Reasonableness of cost Acceptability of risk level 15 7. Project rating index Construc

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tion of a Rating Index  Identify factors relevant for project rating  Assign weights to these factors  Rate the project proposal on various factors (using a 5 or 7point scale)  For each factor, multiply the factor rating with the factor weight to get the factor score  Add all the factor scores to get the overall project rating index 16 8. Sources of positive net present value       Economies of scale Product differentiation Cost advantage Marketing reach Technological edge Government policy 17 9. • • • Being an Entrepreneur Personal aspirations Business sustainability and size Tolerance for risk Questions that every entrepreneur must answer 1. Are my goals well defined? 2. • • • Do I have the right strategy? Clear definition Profitability and potential for growth Durability and rate of growth 3. • • Can I execute the strategy? Availability of resources Organizational infrastructure and founder’s role 18 Success Traits of an Entrepreneur       Willingness to make sacrifices Leadership Decisiveness Confidence in the project Marketing orientation Strong ego 19 How to be a Good Leader Jack Welch 1. Leaders relentlessly upgrade their team, using every encounter as an opportunity to evaluate, coach and build self-confidence 2. Leaders make sure people not only see the vision, they live and breathe it 3. Leaders get into everyone’s skin, exuding positive energy and optimism 4. Leaders establish trust with candor, transparency and credit 20 How to be a Good Leader 5. 6. cont’d… 7. 8. Leaders have the courage to make unpopular decisions and gut calls Leaders probe and push with a curiosity that borders on skepticism, making sure their questions are answered with action Leaders inspire risk-taking and learning by setting the example Leaders celebrate “Think of yourself as a gardener, a watering can in one hand and

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