An entrepreneurial idea must be documented by including details such as scope of idea, required resources etc. Such a document that details the idea, scope and potential of an entrepreneurial idea is called a Project Report. The process of developing a project report is called "Preparation of Project"
Definition:
A Project is a methodically evolved work plan devised to achieve specific objective within a specified period of time.
Projects vary in size, scope, nature , duration of completion and resource requirements.
Classification of Projects:
There are numerous criteria for classifying projects into different categories.
A project is said to be quantifiable in case its components can be described in numbers and results can be measured in numbers
Eg. Power generation, National High way projects
On the contrary, Projects such as health care, education, awareness campaign are examples of non-quantifiable projects
Projects can be classified based on the sector to which they belong and are called sectoral projects
Education
- Transport
- Food processing project
Other criteria for classifying projects are as follows
capital intensive ( more money is needed)
- Labour intensive ( more people are needed e.g. garment)
- Demand based
- Supply based
- Size and Scale - small, medium and large
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