A Project Flashcards
What is a project ?
A project is a set of proposals for the investment of resources that are expected to produce future benefits within a specified period of time.
It was defined by the UN as the compilation of data which will enable an appraisal to be made of the economic advantages and disadvantages attendant upon the allocation resources to the production of specific goods and services
What is a project?(researched)
A project is any undertaking carried out individually or collaboratively and possibly involving research and design that is carefully planned to achieve an aim
Attributes of a project
- it involves the commitment of scarce resources to a specific kind of action which prevents use of these resources elsewhere
- project resources are usually committed for a long period of time to produce benefits that are usually quite clearly identifiable but may not occur or be clearly felt for several years
- relatively few projects are financed simply from government allocation they involve special financial arrangements
Basic concepts of a project
A programme
A programme is defined by ecarpe in 1960 as a coordinated set of projects within the same country, state, local government or city
A coordinated set of projects is a programme
Some other attributes of a project (researched)
- Projects have a start and finish point
- a project has a number of steps that makes up the project life cycle
- every project is unique
- a project has a single definable goal or aim
- projects are temporary activities
- they involve unfamiliarity
- organizations mostly have something at stake when undertaking a project
- it cuts across organizational lines
Basic concepts of a project
Project analysis
According to squire and van der Tak in 1975 defined project analysis as the one method of evaluating alternatives, it assesses the benefits and cost of a project, reducing them to a common yardstick
It can also be defined as the compilation, processing and critical examination of a variety of economic, financial and technical data in respect of a proposed capital investment in a view to determine whether the economic advantages and disadvantages justify the commitment of scarce resources.
Basic concepts of a project
Project appraisal and evaluation
Project appraisal is an ex-ante analysis while project evaluation is an ex-post analysis
Project appraisal refers to the review of calculations, assumptions and submissions contained in the project study before a project is executed while project evaluation is an ex post study carried out after the project has been executed
Basic concepts of a project Project analysis (researched)
It is the process of examining the aspects of a project in detail to see that the project runs smoothly within the predefined budget and some methods of project analysis are
Regression analysis, cross tabulation, simple profiling etc
