Purpose of project formulation

Establishing and refining development objective Evaluating technical design considerations Acquiring property necessary for the project Preparing costs estimates (scoping, preliminary and final) Conducting Cost Analyses (Benefit/Cost and Life Cycle) Conducting Environmental reviews (NEMA, etc.) Coordinating with FAA Technical Operations Preparing Read More …

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Stages of project formulation

Feasibility analysis Techno-Economic Analysis Project Design and network analysis Input analysis Financial analysis Cost-benefit analysis Pre-investment analysis Feasibility Analysis It is the first stage in project formulation Examination to see whether to go in for a detailed investment proposal or Read More …

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PROJECT FORMULATION

Project Formulation consists of identifying the scope, schedule and budget for the proposed project. Scope is identified typically through a sketch prepared by a member of Project Management. Project Formulation is defined as taking a first look carefully and critically Read More …

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Reasons for failure of projects (e.g. government)

What is project failure? This is a project which does not meet any of the following Cost estimates Time estimates Quality specifications Acceptance from stakeholders The following are some of the reasons why projects fail Insufficient resources Poor implementation Corruption Read More …

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Interpersonal Skills Management:

The management of interpersonal relationships includes: Effective communication: The exchange of information Influencing the organization: The ability to “get things done” Leadership: Developing a vision and strategy, and motivating people to achieve that vision and strategy Motivation: Energizing people to Read More …

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Project Management Skills:

Many of the tools and techniques for managing projects are specific to project management. However, effective project management requires that the project management team acquire the following three dimensions of project management competencies: Project Management Knowledge Competency: This refers to Read More …

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Project stakeholders

According to the Project Management Institute (PMI), the term project stakeholder refers to, ‗an individual, group, or organization, who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project‘ (Project Read More …

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Characteristics of a project

1. Specific Objectives: The three generic objectives of a project are Time-determined by the schedule of activities Cost-determined by the budget Quality-determined by the specification of customers Projects should meet the requirements/specifications of the stakeholders. Stakeholders include:-beneficiaries, financiers, implementers, victims Read More …

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Importance of Project Management in Organization

Project management is a growing field used increasingly by businesses of all sizes. As entrepreneurs and company executives‘ deal with the daily responsibilities of managing an organization, it is important to use dedicated project managers to oversee projects from conception Read More …

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