Handout 2 Project Identification & Screening

8/13/2019 Handout 2 Project Identification & Screening

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Course Coordinator: Dr. Parikshit Charan

Course: Project Management

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PROJECT MANAGEMENT

Project Identification and

Screening

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PROJECT SELECTION

Project Identification

Project Appraisal

Project Selection based on

criteria

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PROJECT IDENTIFICATION

OBJECTIVES

STRENGTHS WEAKNESSES

THREATS OPPORTUNITIES

ALTERNATIVE

PROJECT POSSIBILITIES4

SEARCH NEW IDEAS

What are the objectives?

Brainstorm to generate alternative solutions.

Emerging market trends.

SWOT analysis.

Other constraints

Shortlist candidate ideas for detailed

scrutiny.

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MOTIVATION

Projects are a means to accomplish

Individual or family objectives

Organizational objectives

National or global objectives

Project Identification begins in response

to the specific need or the objectives

OBJECTIVES

To increase profits

To minimize threats of losses

To become more competitive To provide help after a disaster

To train people in a new area

To reduce pollution in Noida

To become a successful entrepreneur

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2/5


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BRAINSTORMING

A good means to generate new project ideas Focus on uninhibited participation by a

group

Listing of ideas without suppressing

creativity at source

List of ideas subjected to screening and

evaluation subsequently

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SCREENING OF IDEAS

Poor Fair Good Vgood Excellent (1) (2) (3) (4) (5) Weight

Cost * 20%

Risk * 30%

Return * 40%

Hazard * 10%

(score = 2x0.2+3x0.3+4x0.4+2x0.1= 3.1)

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CRITERIA IN SCREENING

PROJECTS

Investment

Rate of return

Risk

Likely profit

Payback

Similarity to

existing business

Expected life

Flexibility

Environment

impact

Competition

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MORTALITY OF NEW

PROJECT IDEAS

Number

of project

ideas

PLC stages

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MORTALITY OF NEW

PRODUCT IDEAS

One study indicated that out of 35 new

ideas only 1 made it to the final product

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REDUCE VEHICULAR

POLLUTION IN NOIDA

1 Restrict registration of new vehicles

2 Enforce strict emission regulations for

vehicles

3 Ban diesel run vehicles on road

4 Introduce MRTS for the city

5 Encourage use of car pools

6 Grow more trees/ green belts in the city


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REDUCE VEHICULAR

POLLUTION IN NOIDA-II

7 Declaring no traffic zones in the city

8 Ban vehicles with an age of ten or more

years from plying on the roads

These and more ideas could be generated

through a Brainstorming exercise

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SCREENING OF IDEAS

Criteria chosen for screening: Effectiveness to achieve objective

Cost of the proposal

Ease of implementation

Time needed

This is an illustrative list. Other criteria

could be added, if needed.

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SCALE OF EVALUATION

v poor poor fair average good excellent

(0) (1) (2) (3) (4) (5)

Low Effectiveness High

High Cost Low

Difficult Implementation Easy

Maximum Time Minimum

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SCORING OF ALTERNATIVE

PROJECTS(Effectiveness/Cost /Implementation/Time)

1 Restrict registration

of new vehicles

2 Enforce strict

emission regulations

on vehicles

3 Ban diesel run

vehicles on the road

4 Introduce MRTS for

the city

3 1 1 2 7

4 5 4 5 18

3 1 1 2 7

4 0 1 0 5

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SCORING OF ALTERNATIVE

PROJECTS(Effectiveness/Cost/Implementation/Time)

5 Encourage use of car

pools

6 Grow moretrees/green belts in the

city

7 Declaring no traffic

zones in the city

8 Ban 10 year and

older vehicles

2 5 4 4 15

4 3 3 3 13

2 3 2 2 9

3 2 3 3 11

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RESULTS OF SCREENING

Project No.2: Enforce strict emission

regulations on vehicles (18 points)

Project No. 5: Encourage use of car pools

(15 points)

Project No. 6: Grow more trees/green belts

in the city (13 points)


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PROJECT IDENTIFICATION

Objectives

Internal

SWOT Brainstorming

External

Project possibilities

Criteria Screening

Candidate project proposals

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SUMMARY

Project identification is generally done bybrainstorming

Broad objectives guide the brainstorming

Introspection is necessary to identify the

strengths and weaknesses of the system

Looking outside towards the environment

provides new opportunities and threats

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SUMMARY

(Continued)

Evaluation of ideas is suspended during

brainstorming to encourage creativity

A subsequent screening on relevant criteria

produces a candidate set of projects for

detailed scrutiny

An exercise to illustrate the procedure was

undertaken

Handout 2 Project Identification & Screening

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