Q.

3) Feasibility studies aim to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats present in the environment, [1][2] the resourcesrequired to carry through, and ultimately the prospects for success. In its simplest terms, [3] the two criteria to judge feasibility are cost required and value to be attained. A well-designed feasibility study should provide a historical background of the business or project, a description of the product or service, accounting statements, details of the operations and management,marketing research and policies, financial data, legal requirements and [1] tax obligations. Generally, feasibility studies precede technical development and project implementation. A feasibility study evaluates the project's potential for success; therefore, perceived objectivity is an [citation needed] important factor in the credibility of the study for potential investors and lending institutions. It must therefore be conducted with an objective, unbiased approach to provide information upon which [citation needed] decisions can be based.

Feasibility study topics[edit]

Common factors[edit]
The acronym TELOS refers to the five areas of feasibility - Technical, Economic, Legal, Operational, and Scheduling. Technology and system feasibility The assessment is based on an outline design of system requirements, to determine whether the company has the technical expertise to handle completion of the project. When writing a feasibility report, the following should be taken to consideration: A brief description of the business to assess more possible factor/s which could affect the study The part of the business being examined The human and economic factor The possible solutions to the problem

At this level, the concern is whether the proposal is both technically and legally feasible (assuming moderate cost). Legal Feasibility Determines whether the proposed system conflicts with legal requirements, e.g. a data processing system must comply with the local Data Protection Acts. Operational Feasibility Operational feasibility is a measure of how well a proposed system solves the problems, and takes advantage of the opportunities identified during scope definition and how it satisfies the requirements [4] identified in the requirements analysis phase of system development. The operational feasibility assessment focuses on the degree to which the proposed development projects fits in with the existing business environment and objectives with regard to development schedule, delivery date, corporate culture, and existing business processes.

To ensure success, desired operational outcomes must be imparted during design and development. These include such design-dependent parameters such as reliability, maintainability, supportability, usability, producibility, disposability, sustainability, affordability and others. These parameters are required to be considered at the early stages of design if desired operational behaviors are to be realized. A system design and development requires appropriate and timely application of engineering and management efforts to meet the previously mentioned parameters. A system may serve its intended purpose most effectively when its technical and operating characteristics are engineered into the design. Therefore operational feasibility is a critical aspect of systems engineering that needs to be an integral [5] part of the early design phases. Economic Feasibility The purpose of the economic feasibility assessment is to determine the positive economic benefits to the organization that the proposed system will provide. It includes quantification and identification of all the benefits expected. This assessment typically involves a cost/ benefits analysis. Technical Feasibility The technical feasibility assessment is focused on gaining an understanding of the present technical resources of the organization and their applicability to the expected needs of the proposed system. It is [6] an evaluation of the hardware and software and how it meets the need of the proposed system Schedule Feasibility A project will fail if it takes too long to be completed before it is useful. Typically this means estimating how long the system will take to develop, and if it can be completed in a given time period using some methods like payback period. Schedule feasibility is a measure of how reasonable the project timetable is. Given our technical expertise, are the project deadlines reasonable? Some projects are initiated with specific deadlines. You need to determine whether the deadlines are mandatory or desirable.

Project plan
From Wikipedia, the free encyclopedia
(Redirected from Detailed Project Report)

A project plan, according to the Project Management Body of Knowledge, is: "...a formal, approved document used to guide both project execution and project control. The primary uses of the project plan are to document planning assumptions and decisions, facilitate communication among stakeholders, and document approved scope, cost, and schedule baselines. A project plan may be summarized or detailed."[1] PRINCE2 defines:

"...a statement of how and when a project's objectives are to be achieved, by showing the major products, milestones, activities and resources required on the project." The project manager creates the project management plan following input from the project team and key stakeholders. The plan should be agreed and approved by at least the project team and its key stakeholders.

Purpose[edit]
The objective of a project plan is to define the approach to be used by the Project team to deliver the intended project management scope of the project. At a minimum, a project plan answers basic questions about the project: Why? - What is the problem or value proposition addressed by the project? Why is it being sponsored? What? - What is the work that will be performed on the project? What are the major products/deliverables? Who? - Who will be involved and what will be their responsibilities within the project? How will they be organized? When? - What is the project timeline and when will particularly meaningful points, referred to as milestones, be complete?

Q.5)

Types of Risk in Project Management

Broadly, there are five main categories of risk types associated with project management. 1. External Risks External events are mainly outside the control of the project manager and, in most cases, the corporation. Examples include: o Marketplace developmentsrapid developments can cause an abrupt change of direction Government regulatory changes Industry-specific proceduresnew standards, issues Mergers/acquisitions Legal issuesdisputes, lawsuits, and court orders

o o o o

o o o o o o o o o

Change-driven factorsnew products, services, changes in market Corporate strategy and priority changes Disasters such as fire, flood, earthquake, or other natural disaster Interference from outside electrical sources, causing disruption Loss of power, heating, or ventilation; air conditioning failure Sabotage, hacking, and security breaches Communications systems and security sensor failures Viruses and other malicious attacks on information systems Emergency destruction of communications

Most of these risks are very difficult to control at the project manager level but can be identified and, therefore, managed. This means that senior management must be involved in the risk management process and have input into risk control issues. 2. Cost Risks Many of these types of risks are directly or indirectly under the project manager's control or within his or her area of influence. Examples of cost risks include those arising from: o o o o Cost overruns by project teams or subcontractors, vendors, and consultants Scope creep, expansion, and change that has not been managed Poor estimating or errors that result in unforeseen costs Overrun of budget and schedule

3. Schedule Risks Schedule risks can cause project failure by missing or delaying a market opportunity for a product or service. Such risks are caused by: o o o Inaccurate estimating, resulting in errors Increased effort to solve technical, operational, and external problems Resource shortfalls, including staffing delays, insufficient resources, and unrealistic expectations of assigned resources Unplanned resource assignmentloss of staff to other, higher-priority projects

4. Technology Risks

Technology risks can result from a wide variety of circumstances. The result is failure to meet systems' target functionality or performance expectations. Typical examples are: o o o o o o o Problems with immature technology Use of the wrong tools Software that is untested or fails to work properly Requirement changes with no change management Failure to understand or account for product complexity Integration problems Software/hardware performance issuespoor response times, bugs, errors

5. Operational Risks Operational risks are characterized by an inability to implement large-scale change effectively. Such risks can result in failure to realize the intended or expected benefits of the project. Typical causes are: o o o o o Inadequate resolution of priorities or conflicts Failure to designate authority to key people Insufficient communication or lack of communication plan Size of transaction volumestoo great or too small Rollout and implementation riskstoo much, too soon

Q.6) PMIS

Project management information system

From Wikipedia, the free encyclopedia

A project management information system (PMIS) is the coherent organization of the information required for an organization to execute projects successfully. A PMIS is typically one or more software applications and a methodical process for collecting and using project information. These electronic systems "help [to] plan,

execute, and close project management goals."[1] PMIS systems differ in scope, design and features depending upon an organisation's operational requirements.

Project Management Information System (PMIS) are systemtools and techniques used in project management to deliver information. Project managers use the techniques and tools to collect, combine and distribute information through electronic and manual means. Project Management Information System (PMIS) is used by upper and lower management to communicate with each other. Project Management Information System (PMIS) help plan, execute andclose project management goals. During the planning process, project managers use PMIS for budget framework such as estimating costs. The Project Management Information System is also used to create a specific schedule and define the scope baseline. At the execution of the project management goals, the project management team collects information into one database. The PMIS is used to compare the baseline with the actual accomplishment of each activity, manage materials, collect financial data, and keep a record for reporting purposes. During the close of the project, the Project Management Information System is used to review the goals to check if the tasks were accomplished. Then, it is used to create a final report of the project close. To conclude, the project management information system (PMIS) is used to plan schedules, budget and execute work to be accomplished in project management.