ENTREPRENEURSHIP

Detailed explanation-1: -Project formulation is the systematic development of a project idea for the eventual objective of arriving at an investment decision.

Detailed explanation-2: -Project formulated is the systematic development of a project idea for the eventual purpose of arriving at an investment decision.

Detailed explanation-3: -Project formulation is a process by which one obtains a complete picture about the project being undertaken without really arriving at a detailed feasibility study. The information collected through this exercise can be used for preliminary evaluation and screening of projects.

Detailed explanation-4: -Meaning: Project formulation is the systematic development of a project idea for arriving at an investment decision. It has the built-in mechanism of ringing the danger bell at the earliest possible stage of resource utilization. Project formulation is a process involving the joint efforts of a team of experts.

Detailed explanation-5: -Project formulation exercise normally includes such aspects as follows; Feasibility analysis. Techno-economic analysis. Project design & Network analysis. Input analysis.