What is project identification explain iternal and extrnal?
Answers
Project identification is the first step of any project. Entrepreneurs need to identify the projects which suits their requirements and can help them achieve growth and good profits. The identification involves:
-An alternative review that approaches a set of development problems and opportunities.
-Defining project objectives and scope of work at the degree of detail
-Identification of the major issues that need to be dealt with and questions to be addressed before a project can be implemented.
Internal risks include financial solvency of the company, personnel issues i.e. sickness or unanticipated termination of a key team member, infrastructure problems etc.
External risks are outside the control of the project team and its host organization. Therefore, these are more difficult to predict and control. Factors such as a key vendor going bankrupt, economic upheaval, crimes, wars and other events may directly impact the project's effectiveness.