Lesson 1 - Haryana (India)

1 Lesson 1 MEANING, NATURE AND IMPORTANCE OF of project and project of Family of selection life Tools and techniques for project manager s roles and Self assessment reading this Lesson , you should be able toa)Define the project and explain the nature and classification of )Understand the concepts of idea generation, project life cycle and Projects have a major role to play in the economic development of a the introduction of planning in our economy, we have been investing large amountof money in projects related to industry, minerals, power, transportation, irrigation,education etc. with a view to improve the socio-economic conditions of the projects are designed with the aim of efficient management, earning adequatereturn to provide for future development with their own resources.

Non-Industrial Industrial Non-Conventional High Conventional Low R&D Technology T echnology T echnology Mega Major Medium Mini Grass Expansion Modification Replacement Diversification New Project Normal Crash Disaster Fig. 1.2 Classification of Project 1.6 PROJECT SELECTION PROCESS

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