What is Project Report?
In this tutorial we are going to learn about the Project report. We will also learn about the different aspects which must be kept in mind while creating a report. We will also discuss the content of a project report, what must be included in a project report in order to make it more effective.
A project report is a document that contains the information about the proposed project and it contains all the details of the project. The project report details the project proposal in order to assess the feasibility of the planned plan/activity. In tother words we can say that a project report is a written document that is related to a particular investment or a project.
It includes information that was used to evaluate the proposal and determine if it was feasible. The project report consists the evaluated data on economical, technological, financial, managerial, and manufacturing issues that may or may not happen while the project is being build.
The project report includes comprehensive information on the necessary land and buildings, annual manufacturing capacity, manufacturing process, machinery and equipment prices and specifications, raw material requirements, power and water requirements, manpower requirements, project marketing costs, efficiency, financial assessments, and economic viability.
A Project Report's Contents
A project report's contents are as follows:
1. General Information
The General information must provide information on the industry's history, current state, challenges, and future prospects.
If the proposed company is a manufacturing unit, it must provide details about the product to be produced as well as the reasons for choosing the product. The General information must describe the product's demand in the local market, as well as in national market, and in the global markets. It should clearly define business alternatives as well as the motivations for starting a business.
2. Executive Summary
The business's goals and strategies for achieving results must be stated in a project report. This report must consist the overall picture of the company which must be in terms of capital that company holds, operations going on in the company, operating methods, and business execution. It must include the assumptions and risks that are common in the industry.
3. Organization Summary
The planned organization structure and pattern for the unit should be included in the project study. It must specify whether the company is a sole proprietorship, a partnership, or a joint stock corporation. It must provide biographical information about the promoters, as well as financial stability.
4. Project Description
A brief overview of the project must be given, including information on the following:
If the company is service-oriented, it must specify the services it provides to customers. It should provide a detailed description of how customers will be served.
5. Marketing Plan
The marketing plan must specify the selling price at which the commodity can be offere. It should also include the tactics that will be used to win the market. If an after-sale service is offered, it must be specified in the project.
It must define the product's mode of delivery from the manufacturing unit to the consumer. The following must be included in the project report:
6. Capital Structure and operating cost
The report must also specify the source of funding as well as the extent of the owner's and borrowed funds. Working capital specifications must be specified, as well as the source of supply, in the project.
Land, building and civil works maintenance, plant and equipment, miscellaneous fixed assets, preliminary and preoperative costs, and working capital must all be factored into the overall project cost estimate. This segment must also include a breakdown of the running costs.
7. Management Plan
The following should be included in the project report:
8. Financial Aspects
This portion of the project report covers the accounting system and inventory management system that will be used. The financial and economic viability of the company must be stated in the project report.
9. Technical Aspects
A project report contains details about the project's technologies and strategic aspects. It includes information on the project's chosen technology, the manufacturing process, machinery capability, pollution control plants, and so on.
10. Project Implementation
The project implementation in the report must specify when the activities associated with establishing the business will be completed. The timeline for project planning and execution is seen in the implementation schemes.
11. Social responsibility
The Social responsibility units or projects are based on societal inputs. As a result, it makes a significant contribution to society in terms of jobs, revenue, exports, and infrastructure. The business's performance must be listed in the project report.
What is the difference between a comprehensive project report and a feasibility study report?
To endorse the investment plan, a feasibility study report is prepared. Experts and consultants bringing in a feasibility study report discuss the feasibility of different issues related to technological, commercial, and financial aspects in great detail.
A technoeconomic feasibility study report is referred to as a feasibility study report. It is the main study used to develop the investment plan.
A detailed project report serves as the foundation for project preparation and execution.
The company that requested recommendations to solve a specific problem is given a Feasibility Report. This study explains why the suggestions decided by the Problem Analysis are feasible.
The investigator will study each suggestion made by the analysis and present its economic (how much will the solution cost), structural (how will the solution fit into the company's current physical structure), and operational (how will the solution fit into the company's existing operation) feasibility.
The investigator will prioritize them, but will also present the feasibility of all recommendations, including the benefits and drawbacks of each. This allows decision-makers to choose the solution that they feel is best for the business.