Project formulation refers to the development of the project from the generated idea of the firm, the idea is the seed of the project. Project formulation includes the total procedures or activity of altering the project concept, theme etc. from intuitions based to an institutional based and rational based to result feasible work form. It is detail procedure of analyzing the feasibility of any specific project. So various factors are taken into consideration to test the viability of the proposed project. It plays the dominant role into the success of the any project. |
There are various techniques available for the project formulation. Most commonly used techniques are as follows:
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