Question

Importance of project identification

Answer 1

Project identification is a component of project management. It involves collection, compilation, and analysis of data in order to locate potential opportunities for a startup business and development of such opportunities.

It is all about creating values and identifying all the correct components for starting a business. It carries long term consequences which can either help the business to flourish or fail.

It involves the ideas being put into actions. Involves creative use of resources, generates value addition and build-up national capital , brings socio-cultural development , eads to development of infra-structure and environment .

Answer 2

Answer:

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The purpose of project identification is to develop a preliminary proposal for the most appropriate set of interventions and course of action, within specific time and budget frames, to address a specific development goal in a particular region or setting.

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