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Generation and Screening of Project Ideas-Project Management-Lecture Slides - Document's extract

Slides, Project Management

Post: July 11th, 2012
Extract
Generation and Screening of Project Ideas
1. 2. 3. 4. 5. 6. 7. 8. 9. Generation of Ideas Monitoring the Environment Corporate Appraisal Profit potential of Industries: Porter’s Model Scouting for project ideas Preliminary screening Project rating index Sources of positive net present value On being an entrepreneur
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1. Generation of Ideas
 Stimulating the flow of ideas
 SWOT analysis  Clear articulation of objectives
     Cost reduction Productivity improvement Increase in capacity utilization Improve in contribution margin Expansion into promising fields

 Fostering a conducive work environment

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2.

Monitoring the Environment
1. 2. 3. 4. 5. 6. Economic Sector Government Sector Technological Sector Socio-demographic Sector Competition Sector Supplier Sector
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2.
• • • • • • •

Monitoring the Environment
State of the economy Overall rate of growth Growth rates of primary/secondary/tertiary sectors Cyclical fluctuations Linkage with the world economy Trade surplus/deficits Balance of payment situation

1. Economic Sector

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2.
• • • • • • •

Monitoring the Environment
Industrial policy Government programmes and policies Tax framework Subsidies, incentives and concessions Import and export policies Financing norms Lending conditions (FIs and CBs)

2. Government Sector

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2.

Monitoring the Environment

3. Technological Sector
• • • Emergence of new technologies Access to technical know-how Receptiveness on the part of industry

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2.
• • • • • •

Monitoring the Environment

4. Socio-demographic Sector
Population trends Age distribution and shifts Income distribution Educational profile Employment of women Attitudes towards consumption and investment

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2.
• • • • •

Monitoring the Environment

5. Competition Sector
Number of firms in the industry and their market shares Degree of h
omogeneity and differentiation among products Entry barriers Comparison with substitutes Marketing policies and practices

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2.

Monitoring the Environment

6. Supplier Sector
• • • Availability and cost of raw materials and subassemblies Availability and cost of energy Availability and cost of money/capital

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3.
    

Corporate Appraisal
Marketing and distribution Production and Operations Research and development Corporate resources and personnel Financing and accounting

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4.

Profit potential of Industries: Porter’s Model

 Five basic competitive forces
     Threat of new entrants Rivalry among existing firms Pressure from substitute products Bargaining power of buyers Bargaining power of sellers

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Forces Driving Industry Competition
Potential Entrants

Suppliers

The Industry
Rivalry among existing firms

Buyers

Substitutes
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5.
    

Scouting for project ideas
Analyze the performance of existing industries Examine the inputs and outputs of various industries Review imports and exports Study plan outlays and government guidelines Look at suggestions of financial institutions and development agencies  Investigate local materials and resources  Analyze economic and social trends

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5.
      

Scouting for project ideas

cont’d

Study new technological developments Draw clues from consumption/trends abroad Explore the possibility of reviving sick units Identify unfulfilled psychological needs Attend trade fairs Stimulate creativity for generating new product ideas Hope that the chance factor will favor you

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6.
     

Preliminary screening
Compatibility with the promoter Consistency with government priorities Availability of inputs Adequacy of market Reasonableness of cost Acceptability of risk level
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7.

Project rating index
Construc
tion of a Rating Index

 Identify factors relevant for project rating  Assign weights to these factors  Rate the project proposal on various factors (using a 5 or 7point scale)  For each factor, multiply the factor rating with the factor weight to get the factor score  Add all the factor scores to get the overall project rating index

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8. Sources of positive net present value
      Economies of scale Product differentiation Cost advantage Marketing reach Technological edge Government policy
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9.
• • •

Being an Entrepreneur
Personal aspirations Business sustainability and size Tolerance for risk

Questions that every entrepreneur must answer 1. Are my goals well defined?

2.
• • •

Do I have the right strategy?
Clear definition Profitability and potential for growth Durability and rate of growth

3.
• •

Can I execute the strategy?
Availability of resources Organizational infrastructure and founder’s role
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Success Traits of an Entrepreneur
      Willingness to make sacrifices Leadership Decisiveness Confidence in the project Marketing orientation Strong ego
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How to be a Good Leader

Jack Welch

1. Leaders relentlessly upgrade their team, using every encounter as an opportunity to evaluate, coach and build self-confidence 2. Leaders make sure people not only see the vision, they live and breathe it 3. Leaders get into everyone’s skin, exuding positive energy and optimism 4. Leaders establish trust with candor, transparency and credit
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How to be a Good Leader
5. 6.

cont’d…

7.
8.

Leaders have the courage to make unpopular decisions and gut calls Leaders probe and push with a curiosity that borders on skepticism, making sure their questions are answered with action Leaders inspire risk-taking and learning by setting the example Leaders celebrate
“Think of yourself as a gardener, a watering can in one hand and
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