Project Management

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Project management

Name of the Writer]




Factors contributing to project selection2

Project specifications for the implementation of a new process5

Specification for an agreed project for implementation of new process5


Project Plan7

Step 1: Project Goals7

Step 2: Project Deliverables8

Step 3: Project schedule8

Step 4: Resource planning11

Resource needed11

Task 111

Task 211

Task 312

Task 412


Project time scale12

Implementation plan13

TASK 314

Measures to monitor and evaluate progress and outcomes14


Monitoring project implementation14

TASK 416

The outcomes of a project in terms of the original project specification16

Evaluation of the outcomes of the project16


Project management and implementation


Project management is the areas of in which are defined and clear objectives are achieved by balancing between the amount of work, resources (such as money, labour, materials, energy, space, etc.), time, quality, and risk management in some projects. A key success factor of project management is a clear pre-determined plan, minimize risks and deviations from it, effective change management (as opposed to the process, functional management, service level management) (Michalko 2006, 89).

Task 1

Factors contributing to project selection

The basis of the investment activities of any company is planning its investment policy. In practice, this means the formation of complex projects for the simultaneous implementation in a given time horizon. Deliberately formed a set of objects of real and financial investments that are intended for investment activities in accordance with our investment strategy of the company is an investment portfolio.

In forming the company's investment portfolio is considered a number of alternative investment projects. But when making a decision about choosing an alternative among competing alternatives there are some difficulties due to the fact that the examination of alternatives under study are characterized by generally multi factor nature.

The main factors considered in the selection of investment projects are divided arbitrarily into the following groups:

The environmental factors include the following.

Legal security of the project, its consistency with current legislation;

Possible influence prospective legislation for the project;

Possible reactions of public opinion on the project;

Impact on the availability of unhealthy products and production processes (positive, negative, neutral);

The criteria for the recipient, the project implementing include.

management skills and experience of entrepreneurs, the quality of management personnel, expertise and communication, the characterization of control by a third party;

strategy in marketing, experience and data on its operations in foreign markets;

data on the financial viability and stability of financial history;

achieved results and their trend;

data on potential growth;

Rates of diversification (high, low, medium).

The scientific and technological factors include data on perspectives used in scientific and technological solutions. Novelty and patentability of products of the technical solutions, prospects of applying these results to future developments, and positive impact on other projects of the investor (Wilkins and Gupta 2007, 14).

Economic forces include data on.

the amount of investment, start-up costs for the project;

potential annual rate of return;

expected rate of net present profit;

value of internal rate of income that satisfies the investor;

Under the draft criteria of economic efficiency of investments;

payback period and the balance of real cash flows;

the stability of revenue from the project;

the possibility of using tax incentives;

evaluation period of containment in the market, the likely volume of sales on an annual basis;

the need ...
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