Project planning and feasibility report are two major steps which need to be completed before starting up of an enterprise. A businessman should not plunge into business without collecting and analyzing all details. Proper project planning and feasibility study enables the entrepreneur to complete the above formality.
A Project according to oxford dictionary:
- An (esp. written or drawn) outline or draft; a tabulated statement; a preliminary design or pattern.
- A planned or proposed undertaking; a scheme.
Definition of a project: “a definite and complete plan of action for achieving definite objective or target.”
A project may be prepared for any of the following purpose:
- Establishment of a new factory
- Modernization of an existing factory
- Expansion of an existing factory
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