Question

Report on demonetisation and It's
implementation

Answer 1

Introduction

There have been many voices on the issue of recent decision and implementation of Demonetization in India. Some of the well-known economists in the world have opposed it and have stated that it will not serve its intended purpose. Others, including some economists, industrialists and laypersons have shown support and have opined that despite the hardship it is for the greater good.

Many who have lauded the demonetization policy have been critical with its implementation. It is recognized that strategy formulation is outside the purview of project managers as their role is to implement the strategy in the best way and ensure results are achieved. An analogy would be when a country decides to defend its borders or go to war. The decision to do so is taken by the government which is political whereas the implementation is done by the armed forces who carry it out irrespective of whether the decision is deemed correct or not .

Is it a project / program?

PMBOK 5th edition defines a project as a temporary endeavor undertaken to create a unique product, result or service”.

Program Management Standard 3rd edition defines a program as “a group of related projects, sub projects and related program activities which are managed in a coordinated way whose benefits are not available from managing them individually”.

The Demonetization initiative can be considered a large program which consists of sub programs at the state, union territory or zone level with projects with for various Banks responsible for receiving and disbursing currency notes. There would also be projects for printing of notes at the Mints and sub-programs/projects for calibration of ATMs. In addition, we have a large sub program for advocacy and promotion of non-cash transactions.

Objectives, Benefits & Effects

Program Objectives

Three Objectives were mentioned on Nov 8,2016 when the demonetization was announced.(2)