Page 117 - DMGT521_PROJECT_MANAGEMENT

Project Management

Notes 9. noise
10. aesthetics
11. industries
12. archaeological/historical significance

13. public health
14. socio-economic factors
For each of these, the resulting impacts, whether beneficial or otherwise, are then identified and
a detailed Environmental Management Plan (EMP) prepared for such mitigation, protection
and/or enhancement measures, as are considered necessary.
In the above paragraphs we have briefly covered the salient aspects of technical analysis. In
reality, technical analysis rarely proceeds in a linear fashion covering these aspects. There is a
great deal of interactive information exchange in respect of many of these aspects. At the end,
however, it should result in -
1. a fairly comprehensive recommendation about the “technical” parts of the project package,
2. a precise recommendation, with or without conditionalities, about the technical feasibility
of the package (stating the assumptions, made), and
3. detailed project specifications, which should form the basis for calling bids, etc. during the
implementation phase.
Needles to say, the greater the thoroughness with which the technical analysis is carried out, the
more reliable and complete the Project Specifications are, and the lesser the chances of major
unforeseen problems cropping up and jeopardizing the project.

Self Assessment

State True or False:
12. Time series analysis is a statistical approach applicable for demand forecasting.
13. The Public sector would usually expect a project to earn a high enough profit.

14. Determination of an optimum plant size is critical to the failure of a project.
15. The adverse impact of an extra-large capacity is felt all the more keenly during the early
years when profits are all the more important for survival.

16. The importance of thoroughness of planning at this stage of the feasibility study can
hardly be overemphasized.

7.6 Summary

 Emerging competition in market place is propelling managements to hear the voice of
their customers.
 All business planning starts with forecasting Capital investment, like procurement of raw
materials and production planning, has to relate to demand forecasting.
 The first step of market analysis is to define and identify the specific market to target with
new products or services.
 The analysis of the company allows for the evaluation of the company’s objectives, strategy
and capabilities.

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