BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Project identification.
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Project formulation.
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Project feasibility.
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Project evaluation.
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Detailed explanation-1: -Project formulation is the systematic development of a project idea for the eventual objective of arriving at an investment decision. It has the built-in mechanism of ringing the danger bell at the earliest possible stage of resource utilization.
Detailed explanation-2: -Meaning and Definition of Project Formulation It provides a controlled mechanism for restricting expenditure on project development. Project formulation can be described as systematic examination of technical, economic, managerial, financial, commercial, organizational and legal aspects of a project.
Detailed explanation-3: -Project formulation is by itself an analytical management aid. It enables the entrepreneur to arrive at the most effective project decision . Project formulation exercise normally includes such aspects as follows; Feasibility analysis. Techno-economic analysis.
Detailed explanation-4: -Stages of project report include understanding project report, gathering and selecting information, organizing material, analyzing material, etc. Stages of project formulation includes feasibility analysis, techno-economic analysis, input analysis, cost-benefit analysis, etc.