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PROJECT FEASIBILITY (CONTD.):Operations and Production, Sales and Marketing

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LESSON 10
PROJECT FEASIBILITY (CONTD.)
Broad Contents
Characteristics of a Feasibility Study
The Feasibility Study - What Bankers Like to See in Them
The Feasibility Assessment Process
The Process of Feasibility Study
Conclusion ­ Feasibility Study
10.1
Characteristics of a Feasibility Study:
The feasibility study phase considers the technical aspects of the conceptual alternatives and
provides a firmer basis on which to decide whether to undertake the project.
The purpose of the feasibility phase is to:
·
Plan the project development and implementation activities.
·
Estimate the probable elapsed time, staffing, and equipment requirements.
·
Identify the probable costs and consequences of investing in the new project.
If practical, the feasibility study results should evaluate the alternative conceptual solutions
along with associated benefits and costs.
The objective of this step is to provide management with the predictable results of
implementing a specific project and to provide generalized project requirements. This, in the
form of a feasibility study report, is used as the basis on which to decide whether to proceed
with the costly requirements, development, and implementation phases.
User involvement during the feasibility study is critical. The user must supply much of the
required effort and information, and, in addition, must be able to judge the impact of alternative
approaches. Solutions must be operationally, technically, and economically feasible. Much of
the economic evaluation must be substantiated by the user.
Therefore, the primary user must be highly qualified and intimately familiar with the workings
of the organization and should come from the line operation.
The feasibility study also deals with the technical aspects of the proposed project and requires
the development of conceptual solutions. Considerable experience and technical expertise are
required to gather the proper information, analyze it, and reach practical conclusions.
Improper technical or operating decisions made during this step may go undetected or
unchallenged throughout the remainder of the process. In the worst case, such an error could
result in the termination of a valid project -- or the continuation of a project that is not
economically or technically feasible.
In the feasibility study phase, it is necessary to define the project's basic approaches and its
boundaries or scope. A typical feasibility study checklist might include:
·
Summary level
·
Evaluate alternatives
·
Evaluate market potential
·
Evaluate cost effectiveness
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Evaluate producibility
·
Evaluate technical base
·
Detail level
·
A more specific determination of the problem
·
Analysis of the state-of-the-art technology
·
Assessment of in-house technical capabilities
·
Test validity of alternatives
·
Quantify weaknesses and unknowns
·
Conduct trade-off analysis on time, cost, and performance
·
Prepare initial project goals and objectives
·
Prepare preliminary cost estimates and development plan
The end result of the feasibility study is a management decision on whether to terminate the
project or to approve its next phase. Although management can stop the project at several later
phases, the decision is especially critical at this point, because later phases require a major
commitment of resources. All too often, management review committees approve the
continuation of projects merely because termination at this point might cast doubt on the group's
judgment in giving earlier approval.
The decision made at the end of the feasibility study should identify those projects that are to be
terminated. Once a project is deemed feasible and is approved for development, it must be
prioritized with previously approved projects waiting for development (given a limited
availability of capital or other resources). As development gets underway, management is given
a series of checkpoints to monitor the project's actual progress as compared to the plan.
10.2
The Feasibility Study - What Bankers Like to See in Them:
A cardinal rule in banking is to borrow from a lender who understands your business; or, never
to lend money on a business project that you do not understand. For this reason, even though
most groups involve their banker early in the process, a feasibility study is often done with an
eye towards explaining the project to potential financers. Bankers, as different clients for the
feasibility study, can have different requirements for the study than group members. In many
cases, the feasibility study is the formal project presentation to a lender. This section
summarizes a feasibility study here with the banker in mind.
Many groups work with bankers with whom they already have an established business
relationship. This relationship could be with another cooperative project or with their personal
business. This can ease the process of obtaining financing for a project. However even when
working with a banker, who is familiar with the members, it is important that the banker know
and understand the unique aspects of cooperatives.
From the perspective of a banker, or other perspective financer, the feasibility study should
contain the information described in the table 10.1 below.
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Table 10.1: Information Content of Feasibility Study
This does not mean that a banker or financer is not interested in other aspects of the feasibility
study. Each has their own area of interest and concern; however, the following will be needed
for most, if not all bankers.
1.
Executive Summary:
This should be short, to the point, yet still complete. If the banker cannot read the
summary and understand the basics of the project the odds are that project will receive
financing. This should contain:
·  Project purpose: What is the project and who is involved?
·  Repayment possibility: Does the study show the ability of the investment to be
recovered over a specific time period? Does it give investment (cost) parameters?
Can it convince bankers the investment is needed, even if it is marginally feasible?
·  Projected Financial Returns: What are the projected financial scale, the revenues,
and the operating costs? What is net the income?
·  Economic Benefits: What are the Return on Investment (ROI) and the Internal Rate
of Return (IRR) of the project?
2.
The Financial Package Blueprint:
The banker needs to clearly see what resources the group wants from the bank. The
bank will require information to calculate potential project risk and the bank's exposure
for any monies loaned to the group. They also want to know the financial commitment
to the project from the members. This blueprint should contain the following elements:
·  Characteristics of assets to be financed.
·  Expected rate of conversion to cash-liquidity ­ What is the project's funding
potential and what repayment terms will be required?
·  Risk evaluation data ­ What are internal (yields, costs, etc) and external (inflation,
energy, etc) project risks? What if the key assumptions are not perfect? What is the
bank's exposure?
·  Evaluating Economic Consequences ­ Do net reserves cover capital cost? Does the
plan keep the project from capital erosion?
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·
Financial Forecast ­ What are the next three years projected cash flows, operating
statements, and balance sheets? What are the source and use of funds?
·
Documentation ­ What rational is used to support the assumptions?
10.3
The Feasibility Assessment Process:
It is often suggested that feasibility studies should encompass at least two assessments:
·  Technical feasibility
·  Economic feasibility
The technical feasibility embodies an assessment of the physical, technical and technological
dimensions of the project while the economic feasibility assesses the project's economic
viability within its defined domain.
Figure 10.1: The Value Chain Approach to Feasibility Assessment
The value chain approach (shown in Figure 10.1 above) allows the two assessments to be
embedded into a single initiative, facilitating an increased understanding and appreciation of the
domain's effects on the different stages from input sourcing and procurement to customer
service and support. It also facilitates an appreciation of the resources, technology, customer
expectations and infrastructure required for the initiative to succeed, allowing an assessment of
their level and depth at each subsequent stage in the value chain.
10.3.1 Input Sourcing and Procurement:
We begin conducting the feasibility of the business initiative from the logical point in
the value chain, i.e., input sourcing and procurement. The technical dimension of the
analysis at this stage encompasses the availability of the required inputs in the
appropriate levels of quality and quantity. The assessment of availability involves an
evaluation of cycles and trends for both quantity and quality of the inputs. We are also
interested in the physical movement of the inputs from their origination points to the
facilities where they will be processed. Different sources of supply are evaluated for
their quality and quantity as well as cycles/trends in these characteristics. If specific
human resources and technologies are required to facilitate the effectiveness of the
input sourcing and procurement stage, their availability is assessed within the domain of
the project. Likewise, the infrastructure support for effectively procuring inputs from
origination points to processing facility is also assessed.
The economics of input sourcing and procurement emanates directly from the technical
assessment. The prevailing market prices of inputs as well as costs associated with the
procurement are assessed at the input sourcing and procurement stage. The objective is
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not to determine the price but the range of prices that have been typical in the domain
over a reasonable period of time to allow for the capture of the trends and cycles in the
prices. The price trends and cycles can be matched against the quantity and quality
trends and cycles to provide insights into potential bottlenecks in the input sourcing and
procurement function of the business initiative under consideration.
10.3.2 Operations and Production:
The transformation of inputs into outputs occurs at the operations and production stage
of the value chain. This is also the stage that will generally absorb the lion's share of
the investment capital. Therefore, from the capital resource allocation perspective, the
feasibility requirements at the operations and production stage must be conducted with
all the diligence necessary to address all the requisite issues.
The objective of the technical feasibility assessment at operations and production stage
of the value chain is to determine if the technology being envisaged for the proposed
project is suitable for the desired quantity and quality of product the project wants to
present to the marketplace. It also seeks to determine if the equipment and its
associated technologies are at the appropriate operational scale. Within the value chain
framework, the feasibility assessment of the operations and production technologies is
conducted by laying out the physical process from input receipts to packaging and
transfer to storage and warehousing and/or delivery.
Because of the level of specialized knowledge required to do justice to the operations
and production technical aspects of the feasibility assessment, it is pertinent that the
professionals with the required knowledge and experience are recruited to provide the
intellectual content for the process. It is important that you do not lock yourself into a
technological jam by myopically focusing only on a single technology. Instead, you
must encourage your engineering and technical professional input providers to provide
you with the full range of their knowledge about the technologies and equipments
available. You also need to assess the physical layout of the equipment and its impact
on operational efficiency. These professionals must also be encouraged to provide
insights into how the different technologies compare with respect to the number of
people and their requisite skill levels required to operate them from beginning to end as
well as their attendant operational inputs ­ electricity, natural gas or gasoline,
maintenance protocols and shut down protocols, availability and turnaround of
technical support, etc.
The previous information provides the foundation for the economic assessment of the
alternative technical solutions that can be used in the production process and their
attendant operational requirements. The technical efficiencies of the alternative
technologies should be weighed against their economic efficiencies to determine their
overall effectiveness in the project's feasibility. The best sources of the economic data
to support the assessment of the technologies and operations are the suppliers of the
equipment.
Such primary data can be collected by providing a detailed description of your product
to potential suppliers in a Request for Quote (RFQ) offer. The principal advantage of
using a Request for Quote (RFQ) is to improve your knowledge of alternative solutions
which you may be unaware of, should you settle on the supplier you know. Given the
rate of technical obsolescence, it is imperative that capital investments in technologies
are made to maximize their longevity given technical and economic efficiency
considerations. You should not overlook the alternative of not making direct
investments in operations and production technologies, but seek to assess the
possibilities of allying with a company with existing processing and operation capacity.
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The technical nature of the operations and production stages of the feasibility
assessment requires that unbiased people who are knowledgeable of the processes are
hired to help review the responses to the Request for Quote (RFQ). You should arrange
for the responding suppliers to make presentations so you and your consultants can ask
the necessary questions. Although this process can be cumbersome and time
consuming, it is worthwhile if the equipment, buildings and other operational inputs are
a significant component of the proposed project's capital outlay.
10.3.3 Warehousing, Storage and Delivery:
Generally, agricultural value-added products are stored or warehoused prior to delivery
to customers. Therefore, the feasibility analysis should assess the implications of
warehousing, storage and delivery systems for the project. It is important that the
feasibility study assesses alternative sources of warehousing and storage ­ from owning
facilities to renting facilities to strategic alliance with others. The objective of these
alternatives is to provide the project with realistic alternatives for consideration if the
project is found to be feasible. The feasibility assessment should not only focus on the
physical facilities but also on the management technologies of warehouse and storage
facilities management. The product tracking systems that facilitate maximization of
space utilization and turnover are critical components of the assessment process.
Additionally, available infrastructures to support the physical movement of products to
warehouses or storage, and from there to customers, must also be assessed. For
example, transportation systems may influence how consumer ready products can be
shipped to improve processor efficiently.
The economics of the physical buildings, location, infrastructure, technologies and
other associated resources are brought to bear on the technical options to ensure that the
most technically efficient and economically effective alternatives qualify for
consideration. The best sources of technical and economic information are suppliers of
warehousing and storage services. Trucking and rail companies are often very
forthcoming in providing information on delivery charges for specific products from
certain locations to certain destinations. The accuracy of the data supplied by these
service suppliers is dependent on the clarity and precision of the input information they
need to calculate their estimates. Thus, the stepwise process of gathering information is
important because it provides the requisite information that feeds into future steps.
10.3.4 Sales and Marketing:
Marketing and sales are often taken for granted in feasibility studies. However, they
provide a direct insight into the project's potential market and the Structure, Conduct
and Performance (SCP) characteristics of the players within the industry. Therefore,
the sales and marketing feasibility assessment bridges the intra-firm feasibility
dimensions (those inside the firm) with the extra-firm feasibility dimensions (those
outside of the firm).
The conceptual backbone for the Structure, Conduct and Performance (SCP) is the
assessment of the demand and supply conditions of the product and the behavior of the
other firms in the industry. The supply and demand conditions should cover the size
and scope economies in the industry, seasonality and trends, availability and strength of
substitutes to the product, industry growth rates and demand elasticities.
Industry (market) structure refers to the number and size of the firms (products) in the
industry (market) that you intend to enter. Industry conduct describes the pricing
behavior and price discovery mechanisms used by firms in the industry. In addition, it
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assesses product distribution mechanisms and available channels as well as promotional
initiatives that are used in the industry. The intensity of research and development and
the extent of legal tactics in the industry all provide indications of the depth of the
transaction costs emanating from the conduct of firms in the industry. Finally, the
industry performance assesses the profitability of firms in the industry. This requires
information on prices, product quality, technical progress and industry capacity
utilization.
10.3.5 Non-Market Factors:
A technically and economically feasible project can fail when confronted with certain
government policies and/or regulations. Therefore, feasibility studies should assess the
existing and/or planned regulatory initiatives that impinge on the project. For example,
environmental regulations that are in place and their technical and economic
compliance effects on the project must be analyzed to assess their implications for
technology, location, and other decisions. Similarly, there is need to assess the
implications of specific policies targeted to the industry of interest and evaluate changes
in these policies. For example, policies that offer significant competitive advantage to
the industry but are subject to change by administrative fiat need to be assessed for the
potential effect on the viability of the proposed project.
The results of the foregoing analysis form the backdrop for assessing the feasibility of
your product in the defined market domain. It helps you position your product within
the context of what already exists and how it may differentiate itself to ensure its
competitive advantage. The characteristics that are engineered into the product, as well
as the pricing, promotion and distribution or placement opportunities are all influenced
by a clear understanding and appreciation of the industry's Structure, Conduct and
Performance (SCP).
10.3.6 Data Collection:
Information on industry structure and performance may be obtained from various
government statistics, such as those developed and maintained by the Department of
Commerce. These databases offer information on the number of firms and employees,
average wages and benefits, total value of shipments, gross margins, etc. In addition to
government databases, specific industries also collect their own statistics and
commission reports that may be purchased. Interviews with specific industry experts
can also be a major information source. Similarly, significant information may be
obtained from industry news in the main media or in industry-specific publications. For
example, when industry news reports indicate that plant closures are increasing, it may
be logically extrapolated that industry capacity is high and utilization is low. The
implication of this for performance is often easily inferred for undifferentiated or
commodity industries. Marketing and promotional information may be obtained from
special publications focusing on product marketing and promotions. These function-
specific publications often discuss the successful initiatives and can provide significant
insights into the approaches used in particular industries. Another source of
information on industries is academics publications and government documents.
Because Structure, Conduct and Performance (SCP) issues present important policy
implications, they are the subject of study in many government and academic
documents and they can provide important and significant insights on market structure,
conduct and performance situation in many industries.
For agricultural value-added initiatives, secondary data can suffice for the input
sourcing and procurement segment of the feasibility assessment. The sources of these
secondary data include industry and trade publications as well as statistics of industry
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associations. Additionally, a number of government departments collect, analyze and
publish some of these data. In special cases, primary data collection may be necessary
and this may be done through formal surveys or interviews. For example, different
suppliers may be asked to provide information on their products ­ prices, quantities and
qualities ­ as well as the stability of their quotes, e.g., the frequency with which they
change their prices, quantities and quality. In most cases, when potential suppliers feel
the project initiative is credible, they will invest their best efforts to provide the required
information.
It is important to note that the effective collection of primary data can be expensive and
time consuming. An alternative to primary data when secondary data is not neatly
available is to pull them together from different sources, ensuring that measurements
and definitions are similar across sources. It may sometimes be necessary to transform
data from different sources to comparable units to attain the necessary congruence
required
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10.3.7 Customer Service and Support:
What do customers want? Ask them. The final step in the value chain framework to
feasibility assessment is finding out what customers needs are not being satisfied by the
current marketplace. The purpose of this is to determine if the proposed project's offer
stand to make a difference in satisfying customer needs. The results will provide a
credible input into the project's product differentiation index and allow the proponents
to identify the appropriate placement and promotional options to employ. Customer
service and support research allow the proposed project to gain insights into the nature
and structure of its potential market. It can develop market segments at this step,
allowing it to refocus other components of the initiative or revisit earlier steps in the
feasibility assessment process. Since customers are the final arbiters on the success of a
product, assessing how the project addresses their unmet needs is fundamental to the
project's economic feasibility.
Information for the customer segment of the feasibility can be obtained from reviewing
consumer publications and industry publications for general assessment of needs and
how the project's offering addresses them. Direct information may be obtained by
conducting focus group interviews, surveys and/or interviews. While these initiatives
can be expensive, they are worthwhile if technical and economic assessments thus, far
are supportive of the project and more information is required to make the decision.
For this reason, it is prudent for the customer segment to be where it is in the value
chain, i.e., the end. However, it is important to remember that the process described in
this document is hardly linear but rather iterative, using information from one stage to
dig deeper into or gather new information gathered from an earlier stage.
10.3.8 The Decision Recommendation:
The purpose of a business feasibility study is to make a decision about whether to
proceed with a particular business opportunity. It provides the general internal and
external value chain conditions that confront the business initiative and evaluates the
proposed initiative's ability to be economically viable if it is found to be technically and
operationally feasible. Therefore, the emphasis on the recommendations resulting from
the feasibility study is economic or financial.
The easiest approach to the economic decision is to gather all the information at the
different stages of the value chain and identify those that require capital expenditure
and estimate these expenditures. Additionally, identify the different types of people and
skills required to operate each stage of the value chain and determine what their wages,
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salaries and benefits will be. Finally, identify other project related costs such as
infrastructure development or improvements, occupancy, advertising and promotion,
office supplies and utility as well as fees and municipal or state development taxes
specific to the project. Next, using the production capacity, projected market share
growth rates and the estimated market size, in conjunction with price information
collected in the various stages of the feasibility study; develop a projected revenue or
sales statement. It is important to specifically define all assumptions that drive the
income and cash flow projections, e.g., the mean or median wages, salaries and
benefits, current price and industry average of plant operating capacity, etc. Also,
analyze all the data that were collected to determine their ranges, adjusted for special
circumstances and use these to conduct the sensitivity analysis on the economic
outcomes of the project.
10.3.9 Cost and Revenue Projections:
The cost and revenue projections together allow the development of the net cash flow
emanating from the business over the projected time frame. This statement can then be
subjected to capital investment analysis by selecting a reasonable discount rate and
estimating the Net Present Value (NPV) and/or estimating the Internal Rate of Return
(IRR) associated with the projected cash flow. A positive Net Present Value (NPV)
implies an economically feasible project and the larger the positive Net Present Value,
the more economically feasible the project, assuming the technical and operational
feasibility can be assumed. If the project owners are making a decision based on the
Internal Rate of Return, then they need to determine their required rate of return and
compare it to the estimated Internal Rate of Return. If the Internal Rate of Return (IRR)
exceeds their required rate of return, then the project is economically feasible. On the
other hand, if the estimated Internal Rate of Return is less than the proponents' required
rate of return, then the project is deemed economically infeasible even if it is both
operationally and technically feasible.
10.3.10 Sensitivity Analysis:
It is important that the project cash flow is subjected to the full range of sensitivity
analysis under a range of prices based on data that is collected for the feasibility study.
This will provide the full range of conditions that support the feasibility of the project.
The wider the band of feasible outcomes results from varying the critical assumptions,
the more confident you can be about the viability of your project. On the other hand, if
the band of feasibility is narrow vis-à-vis the critical variables, then the project's
viability is more susceptible to uncertain shifts in its marketplace. For this reason, it is
emphasized that the sensitivity analysis of the feasibility analysis be conducted over the
full range of the project's industry possibilities. These possibilities may be divided into
three blocks ­ worse case, normal case and best case scenarios. Additionally, the
sensitivity analysis must be conducted for different scenarios, for example, best price
with worst demand conditions. This provides insights into the critical bottlenecks to the
project's viability and allows the proponents to assess the decision recommendations
within a more informed framework.
10.4
Conclusion:
The purpose of a feasibility study is to help assess the viability of a business proposition,
technically, operationally and economically. The value chain framework for conducting
feasibility studies has the unique advantage of laying out the project in its logical configuration
­ from input procurement to customer service ­ and assessing the technical, operational and
economic feasibility at each stage, and finally putting it all together to assess the total project
feasibility. The advantage in this approach is revealed in exposing the bottlenecks to feasibility
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along the value chain so they can be assessed for possible improvement. The iterative nature of
the approach is also helpful because it allows the analyst to revisit previous steps when
information from latter steps suggests the need. In the end, the logical and step-wise process for
conducting feasibility assessment within the value chain framework helps enhance transparency
of the analysis and provide the foundations for better decisions.
The report was laid out to reflect expectation of presentation of a good feasibility report. Thus,
it is expected that such a report will cover the input sourcing and procurement, operations and
production, warehousing, storage and delivery. These three cover the logistics aspects of the
production process and draws on the infrastructure conditions, technological and technical
realities, human resource availability, capabilities and skills and customer expectations of
quality associated with the product. Marketing, sales and customer service take the analysis
into the project's external domain to assess industry structure, conduct and performance
characteristics as well as regulatory hurdles that confront the project. The customer service and
support component demand of the analyst to determine the specific needs of customers that may
be addressed by the project's offering and estimate the product differentiation index.
Pulling all the information together into financial units, the analyst can build the investment,
operational costs and revenue projections over a reasonable time frame and estimate the Net
Present Value (NPV) and/or the Internal Rate of Return (IRR) to facilitate making decision
recommendations. A project returning a positive Net Present Value is deemed feasible and the
larger the Net Present Value the better. Project analyst needs to determine the required rate of
return that investors in the project would deem acceptable and compare it to the Internal Rate of
Return to determine the project's feasibility. If the former is lower than the estimated Internal
Rate of Return, then the project is judged to be feasible and vice versa.
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Table of Contents:
  1. INTRODUCTION TO PROJECT MANAGEMENT:Broad Contents, Functions of Management
  2. CONCEPTS, DEFINITIONS AND NATURE OF PROJECTS:Why Projects are initiated?, Project Participants
  3. CONCEPTS OF PROJECT MANAGEMENT:THE PROJECT MANAGEMENT SYSTEM, Managerial Skills
  4. PROJECT MANAGEMENT METHODOLOGIES AND ORGANIZATIONAL STRUCTURES:Systems, Programs, and Projects
  5. PROJECT LIFE CYCLES:Conceptual Phase, Implementation Phase, Engineering Project
  6. THE PROJECT MANAGER:Team Building Skills, Conflict Resolution Skills, Organizing
  7. THE PROJECT MANAGER (CONTD.):Project Champions, Project Authority Breakdown
  8. PROJECT CONCEPTION AND PROJECT FEASIBILITY:Feasibility Analysis
  9. PROJECT FEASIBILITY (CONTD.):Scope of Feasibility Analysis, Project Impacts
  10. PROJECT FEASIBILITY (CONTD.):Operations and Production, Sales and Marketing
  11. PROJECT SELECTION:Modeling, The Operating Necessity, The Competitive Necessity
  12. PROJECT SELECTION (CONTD.):Payback Period, Internal Rate of Return (IRR)
  13. PROJECT PROPOSAL:Preparation for Future Proposal, Proposal Effort
  14. PROJECT PROPOSAL (CONTD.):Background on the Opportunity, Costs, Resources Required
  15. PROJECT PLANNING:Planning of Execution, Operations, Installation and Use
  16. PROJECT PLANNING (CONTD.):Outside Clients, Quality Control Planning
  17. PROJECT PLANNING (CONTD.):Elements of a Project Plan, Potential Problems
  18. PROJECT PLANNING (CONTD.):Sorting Out Project, Project Mission, Categories of Planning
  19. PROJECT PLANNING (CONTD.):Identifying Strategic Project Variables, Competitive Resources
  20. PROJECT PLANNING (CONTD.):Responsibilities of Key Players, Line manager will define
  21. PROJECT PLANNING (CONTD.):The Statement of Work (Sow)
  22. WORK BREAKDOWN STRUCTURE:Characteristics of Work Package
  23. WORK BREAKDOWN STRUCTURE:Why Do Plans Fail?
  24. SCHEDULES AND CHARTS:Master Production Scheduling, Program Plan
  25. TOTAL PROJECT PLANNING:Management Control, Project Fast-Tracking
  26. PROJECT SCOPE MANAGEMENT:Why is Scope Important?, Scope Management Plan
  27. PROJECT SCOPE MANAGEMENT:Project Scope Definition, Scope Change Control
  28. NETWORK SCHEDULING TECHNIQUES:Historical Evolution of Networks, Dummy Activities
  29. NETWORK SCHEDULING TECHNIQUES:Slack Time Calculation, Network Re-planning
  30. NETWORK SCHEDULING TECHNIQUES:Total PERT/CPM Planning, PERT/CPM Problem Areas
  31. PRICING AND ESTIMATION:GLOBAL PRICING STRATEGIES, TYPES OF ESTIMATES
  32. PRICING AND ESTIMATION (CONTD.):LABOR DISTRIBUTIONS, OVERHEAD RATES
  33. PRICING AND ESTIMATION (CONTD.):MATERIALS/SUPPORT COSTS, PRICING OUT THE WORK
  34. QUALITY IN PROJECT MANAGEMENT:Value-Based Perspective, Customer-Driven Quality
  35. QUALITY IN PROJECT MANAGEMENT (CONTD.):Total Quality Management
  36. PRINCIPLES OF TOTAL QUALITY:EMPOWERMENT, COST OF QUALITY
  37. CUSTOMER FOCUSED PROJECT MANAGEMENT:Threshold Attributes
  38. QUALITY IMPROVEMENT TOOLS:Data Tables, Identify the problem, Random method
  39. PROJECT EFFECTIVENESS THROUGH ENHANCED PRODUCTIVITY:Messages of Productivity, Productivity Improvement
  40. COST MANAGEMENT AND CONTROL IN PROJECTS:Project benefits, Understanding Control
  41. COST MANAGEMENT AND CONTROL IN PROJECTS:Variance, Depreciation
  42. PROJECT MANAGEMENT THROUGH LEADERSHIP:The Tasks of Leadership, The Job of a Leader
  43. COMMUNICATION IN THE PROJECT MANAGEMENT:Cost of Correspondence, CHANNEL
  44. PROJECT RISK MANAGEMENT:Components of Risk, Categories of Risk, Risk Planning
  45. PROJECT PROCUREMENT, CONTRACT MANAGEMENT, AND ETHICS IN PROJECT MANAGEMENT:Procurement Cycles