Selection of Idea for Project Formulation

The last step for project identification is selection  of idea for project formulation. It analyszed ideas which are classified as:

• Promising ideas: Promising ideas are possible alternatives for new projects.
• Marginal ideas: Marginal ideas are stored for future uses. They are not immediately useful.
• Reject ideas: Reject ideas are dropped due to various limitations and constraints.

A choice is made from among promising ideas for project formulation. The selected idea becomes a project.

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You may also like this:

• Development of Project Ideas
• Preliminary Analysis of Ideas
• Objectives and Constraints of Project
• Risk Analysis and Risk Management

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