Definition of a Project
Objectives of a Project
A project is a proposal for investment to create, expand, and/or develop certain facilities in order to increase the production of goods and/or services for a community during a certain period of time. The basic objectives for initiating a project by an entrepreneur may be:
- Maximization of stakeholders’ wealth or market value of equity shares.
- Increased production/of goods and/or services.
- Enlarging the capacity of existing projects.
- Increasing the productivity of goods and services.
- Increasing the internal rate of return at low risk.
- They must be consistent with organizational plans, policies, and procedures.
- They must be measurable tangible and verifiable from time to time.
- These project objectives must be in tune with the present or anticipated resources.