What Is Meant By A Project Sysle And Its Components?

There is number of interlinked stages in the life of a project. These stages or phrases together constitute a project cycle. The following five stages are usually mentioned.
Identification; in this stage, projects to be carried out are identified. The identification may be based on surveys, investigation, targets, resources potentials etc.Preparation:; this is second stage in a project cycle in which an identified project is shaped up and a blue print is prepared.

Appraisal; in this third stage, the project is appraised from economic and social viewpoints to determine its viability and profitability.Implementation; the economic and viable project is then ready for implementation. The project must be brought to successful fruition through effective implementation.Evaluation; post completion evaluation is also necessary to identified areas of success and failure of a project. This is vital for rectification of mistakes and policies.

The problem of defining a project however should not detain us any more and let us now discuss some essential ingredients or components of a project. Perhaps this information may shed more light on the illusive ingredients or components of a project. Lastly it has its own exclusive administrative set-uo and organizational structure and a system of accounts. These are essential ingredients which together constitute a project.

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