FEASIBILITY STUDY OF A PROJECT: HOW AND WHY TO CARRY OUT IT

The feasibility study of a project is an inherent element of all of them. It doesn't matter if it is a software
initiative, an educational project or a construction one. Analyzing the viability of a project is more
important than planning and in order to conclude it, it is essential to carry out a complete investigation,
which leads to knowledge of whether the project will really provide the benefits expected from it. It is not
a simple bureaucratic formality, but it is a necessary tool for strategic decision making.

To carry out the feasibility study of a project, it is necessary to collect sufficient information to:
 Identify limitations, restrictions and assumptions.
 Detect opportunities.
 Analyze the current mode of operation of the organization.
 Define the requirements that make up the project.
 Evaluate the different alternatives.
 Reach agreement on course of action

The structure of a project feasibility study

For a project feasibility study to be effective, it must have at least the following six parts:

1. Scope of the project: helps define the limits and avoid deviations that deviate from the expected
results.
 It refers to the purpose and is used to define the company's problem that needs to be solved or
the business opportunity that it wants to take advantage of.
 You must define the scope of application clearly, concisely and precisely, to avoid confusing
project participants.
 It has to report on the structure and parts of the company, including the designation of the
participants in the project, the identification of the promoter and the areas of end users affected
by it.

2 . Situation analysis: serves to identify the strengths and weaknesses of the current approach.
 It helps to better understand the system and understand the development mechanisms of each
deliverable.
 Facilitates the introduction of changes in the areas where they are required.
 It allows defining guidelines that can be applied to future projects, resulting in considerable
savings in time and money.
 It should be used as a roadmap and not as a call to action, so its conclusions must be framed in
planning and not taken as priorities to be resolved immediately.

3. Definition of requirements : this stage depends on the object of the project's attention and is
nourished by the joint participation of project members at different levels.

4. Determination of the approach: which represents the recommended solution or optimal course of
action that will result in the satisfaction of needs.

 It is essential to evaluate the different alternative solutions to each problem.

 The suitability for use of existing structures and alternatives is considered.
 Priorities are established based on their pragmatism and feasibility.

5. Project Feasibility Assessment: Examines the profitability of the selected approach.

 It begins with an analysis of the total estimated cost of the project.
 The cost of other alternatives, apart from the recommended solution, is also calculated in order
to offer an economic comparison.
 It is advisable to complete it with a project schedule that shows the project route and the start
and end dates of the activities as a whole.
  It culminates with the calculation of the total cost, an essential aspect to determine the viability
of a project.
 To this calculation must be added a summary of the costs and an evaluation based on a cost-
benefit analysis and profitability of the investment.

6. Review of a project feasibility study : All of the above elements are assembled into a feasibility
study that must undergo a formal review involving all parties involved. This exam has two purposes:

 Justify the rigor and precision of the feasibility study.

 Make a decision about the project, approving it, rejecting it or requesting a review of it or any of
its aspects.

It must be remembered that a project feasibility study is more of a way of thinking than a bureaucratic
process. To increase its usability, it is important that it contains sufficient details to allow continuing with
the next successive phase in the project, facilitating the application of a comparative analysis in the
preparation of the final project audit that evaluates what is managed to be delivered, in comparison with
what was proposed in the feasibility study.

Reasons for carrying out a project feasibility study

In addition to the common sense approach that a project feasibility study brings to project planning,
there are many other reasons that drive companies to commit to its preparation. Conducting a study of
this type is good business practice and its application can be observed in all successful businesses.
The organizations with the lowest levels of project failure have in common having dedicated the time
and resources necessary to thoroughly examine all the issues and evaluate their probability of success
before starting the next project. In addition to minimizing risk, the feasibility study helps them:
 Focus on the project itself and get a more complete perspective of the different alternatives.
 Discover new business alternatives or ways to optimize results.
 Identify opportunities to innovate, through the research process.
 Detect the signs that warn that it is better not to continue and the reasons that justify this
caution.
 Increase the probability of success by discovering the different factors that, from the beginning,
could affect the project and harm its results.
 Have quality information to make decisions based on objective and reliable data.
 Have complete documentation, the result of in-depth research that the company has carried out
in different areas.
 Ensure financing from credit institutions and other monetary sources.
 It also helps attract capital investment, one of the most applauded benefits of a project feasibility
study.

ACQUIRE THE PROJECT EQUIPMENT .

Acquiring the Project Team is the process of confirming available human resources and forming the
team necessary to complete project assignments.

The project management team may or may not have direct control over the selection of team members,
due to collective bargaining agreements, the use of subcontracted personnel, a matrix-type project
environment, internal communication relationships or external, among a variety of reasons. It is
important that the following factors are taken into account during the Acquire Project Equipment
process:

• The project manager or project management team must effectively negotiate and influence people
who are in position to provide the human resources required for the project.
 • Failure to acquire the necessary human resources for the project can impact schedules, budgets,
customer satisfaction, quality, and risks. This could decrease the likelihood of success and ultimately
lead to project cancellation.
• If human resources are not available due to constraints, economic factors, or prior assignments to
other projects, it may be necessary for the project manager or project team to assign alternative
resources, probably with lower competencies, as long as no criteria are violated. legal, regulatory,
mandatory or other specific type.

These factors must be considered and planned for in the project planning stage. The project manager
or project management team will be required to reflect the impact of the non-availability of necessary
human resources on the project schedule, budget, risks, quality and training plans, as well as other
management plans. of the same as necessary.

1. Acquire Project Equipment: Tickets

a) Project Management Plan
b) Company Environmental Factors
c) Assets of the Organization's Processes

2. Acquire Project Equipment: Tools and Techniques

a) Previous Assignment
b) Negotiation
c) Acquisition
d) Virtual teams

3. Acquire Project Equipment: Outputs

a) Project Staff Assignments
b) Resource Calendars
c) Updates to the Project Management Plan

Prior preparation of essential activities before the start of the project. Planning.
Good prior preparation of the project represents a high probability of success and there are three
fundamental issues prior to launching the project: pre-design, search for support and resources, and
planning.

The first issue is the pre-design of the project :

 The objectives of the project, taken from those subjects or areas of knowledge involved in the
project
 The challenge, question or problem to solve
 The final product that is expected to be obtained and
 The possible evaluation criteria and mechanisms.

As we already said in the first module, starting for this first phase from the evaluation criteria of the
subjects or areas involved opens the way not only to the way of relating the project to the curriculum
but also to how to link the different subjects of the school curriculum. .

This work, analytical and creative, can be carried out succinctly by the person who coordinates the
project or can be developed, preferably, by the work team that is going to develop the project. In any
case, in this first phase the result of this activity must be collected in a minimum document that can be
presented to the management team, the faculty, the students or other external agents since this
document is the axis of the search for support and resources. .

Having the necessary support in the management team, the faculty, the students, the families and the
community is important for the development of a project. It is not uncommon for projects to require the
review of schedules in a timely manner (work of the management team), the cooperation of students
from higher or lower grades (with the help of colleagues from the faculty), obtaining permission for
outings (families ) or financial resources for the purchase of material or to cover expenses associated
with the project (community and external agents). For all these reasons, the pre-design of the project
becomes an action plan that can be shown to find support and resources before deciding whether the
project is feasible or not.

If we finally have the necessary support, then we can carry out detailed project planning . This
planning implies that you must establish:
 the objectives of the learning project,
 the sequence of activities that the students will carry out,
 the tasks to be carried out by the teaching staff to develop the project,
 the partial products and the final product of the project,
 the milestone calendar,
 the list of resources,
 the evaluation criteria, mechanisms and instruments,
 the diffusion proposal.

Of all these points, there are two aspects that require more detailed comment: the teachers' tasks and
the milestone calendar.

First of all, the sequence of activities for students and the list of tasks for teachers should not be
confused. If we want students to read biographies of female scientists, it is first necessary either for
teachers to locate these biographies or, better yet, to create an information search activity on the
Internet. In any case, it is interesting to organize the work of teachers with a table like the following:
Person in
Project phase Task Products Participants
charge
At what point in the
What is the task to be What product is Who coordinates
project should Who should carry out the
carried out by the expected as a the completion of
teachers complete task?
teaching staff? result of the task? this task?
the task?
Design a treasure hunt Teachers of Social
For example:
that allows students to Sciences with the support
Information search Treasure hunt ICT Coordinator
locate and read of teachers of Spanish
phase in the project available online of the Center
information about the Language and Foreign
"Granada in History"
project topic. Languages

Finally, a simple way to track the project once it is up and running and ensure the success of the project
and the student participating in it is to create a milestone calendar . In reality, a milestone calendar
simply means making it very clear to students from the beginning what the partial products of the
project are and when they must be completed (and how they will be evaluated). In this way, students
will be able to obtain partial results that will lead to the development of a quality final product. We are
thus committed to guaranteeing the success of all students through small gradual achievements.

SOURCES OF FINANCING FOR A PROJECT

A) THE FINANCIAL STUDY
This study seeks to identify the sources of capital at the time of investing.

Two sources are thus identified:

1.- Internal Sources
2.- External Sources

1.- Internal Sources

When, for example, the plant has been built giving favorable economic results, in this sense what the
company considers is:
Use the Bond Issuance Instrument: These are papers that the company issues for a certain value for
sale and raises capital. Bond creditors are not shareholders.

Issuance of Shares: These are papers through which the company obtains money and is the owner of
certain shares and has the right to the benefit of the financing. The cost is the cost of the interest that
must be paid for the use of the money.

Dividends: These are the profits that must exist between the differences in income and expenses.
When these dividends exist, decisions must be made about what to do with them:

For example: It can be reversed,

Distribute among shareholders,

A part for working capital can be determined or defined.

Internal Sources : This is when the plant is already built, and in this sense what is going to be used
are the undistributed profits, because what is done is to redistribute the profits from the group of
shareholders to the plant rearrangement.

From the results of the Internal Sources, what is intended is to invest in assets within the same plant.

2.- EXTERNAL SOURCES

In this order are the banks providing loan facilities to investors.

The loans are assumed to:

A) Short Term: (10 years),
B) Medium Term (1 to 10 years),
C) Long Term (more than 10 years).

In the sense explained above, the structure of the financial analysis is constituted by an Economic
Study and a Financial Study, which implies a financial analysis of any project that includes the following
aspects for its economic evaluation.

A) Market Competitiveness,
B) The Financial Capacity of the Company,
C) The Social Economic Condition and perspective of the global country.

You must be careful in the financial analysis of any project, that is, regarding the financial decisions that
the Company must make to make any decision must be made regarding the company's prospects.
Investment Decisions:
They are associated with the objective of the project, which can be, for example:
– Expand the plant,
– Manufacture another product different from the current one,
– Expand production capacity with respect to the same product.

Financial Decisions: These financial decisions define the sources that will provide the money that will
be used in the investment of the project.

TRANSFORMATION OF PROBLEMS INTO SOLUTION OBJECTIVES AND STEPS TO WRITING

OBJECTIVES
GOAL TREE
The positive version of the problem tree is the objective tree, because it changes a difficulty into an
objective.

The objective tree is a methodological procedure that describes a future situation that will dominate
when the problem is solved, identifies and classifies the objectives in order of importance and
visualizes the means and ends relationships in a diagram.

The structure of the objective tree is the same as the problem tree.
You must remember the structure of the problem tree, by having its outline, you place the outline of the
objectives tree with its components.

To build an objective tree, first change the central problem to the central objective problem. Then
negative conditions (causes and effects) are changed into positive states (means and ends). The
answer in the objectives tree will be the antonyms of the identified causes and effects.

HOW IS AN OBJECTIVE WRITTEN?

 An objective has four parts:
 A verb in the infinitive
 What thing?
 As?
 So that?

Example:
Verb in infinitive: Decrease
What thing? child labor
As? with operations from the National Civil Police and the Human Rights Ombudsman's Office
So that? So that the rights of children are not violated

The objective would be as follows: Reduce child labor with operations by the National Civil Police and
the Human Rights Ombudsman's Office so that children's rights are not violated.

Another example:
Infinitive verb: Elaborate
What thing? Artisanal sausages
As? applying the procedures to make sausages
So that? to obtain a product free of preservatives and colorants.

The objective would be like this: Prepare artisanal sausages applying the procedures for making
sausages to obtain a product free of preservatives and colorings.

Determination of the general objective and specific objectives of the project.

The general and specific objectives of a project are work tools to fulfill the main purpose of the
project itself. All these goals must be consistent with the strategy and mission of the company.

The project by objectives is directly related to the breakdown of work. With this, we not only increase
our daily productivity, but as we validate an objective, satisfaction with the work done generates well-
being that serves as fuel to continue meeting goals.

Thus, working by objectives gives us:

 Organization in tasks
 More thorough planning
 Work breakdown and task assignment
 Productivity
 Satisfaction with the work achieved
 Communication with the entire team

Correctly assigning objectives for a project can be a complicated task. Well, it will be our most precious
guide to achieve what we are looking for when carrying out the project. Without these steps we would
be lost.

Fortunately, the Sinnaps management tool allows us to assign objectives to each of our activities, to
validate them as they are achieved. An excellent reminder of why we carry out this task and a very
valuable communication instrument to keep the team updated.
Therefore, in this post it is convenient to explain the definition of general objective, what specific
objectives are, the difference between general and specific objective, how to make an objective matrix,
and what operational objectives are. All of this explained with examples of strategic objectives, which
will help us better define our goals.

WHAT IS A GENERAL OBJECTIVE?

A general objective is the purpose of why we started developing a project. This type of objective never
identifies measurable and evaluable data within the project strategy, but rather describes in general
terms what we want to achieve at the end of our work, or with a certain business.

Therefore, the general objective of a project must be consistent with the company's strategy, as well as
its values and mission. We will work around it, planning actions designed to achieve these objectives.
For this reason, everything we do in the company or project will make sense if we meet this objective.
We could say that a general objective defines the mission and why of the project.
WHAT IS A SPECIFIC OBJECTIVE?
The specific objectives of a project correspond to the steps that we must follow to achieve the general
objective. Let's say that they specify the general objectives in some way. A specific objective provides
part of the solution to get closer to the general purpose of the project.

A very simplified example: to build a house we need to make the foundation, the internal structure, the
walls, the roof, etc. All of these steps are specific objectives. It could even be our planning activities
themselves.

It is important to clarify that the specific objectives of a project do not identify actions that are directly
measurable with indicators. That is what operational objectives are for, which specify specific
objectives. They are measurable through indicators , directly verifiable. Thanks to them, we will be able
to make a more exhaustive continuous evaluation of our work.

HOW TO MAKE A MATRIX OF OBJECTIVES?

An objectives matrix is an instrument with which to identify and prioritize the objectives of our project or
business.

It serves both to communicate to the rest of the team the actions and results we expect, and to find out
the importance and effect of each of them within the project. And nothing better than making a matrix of
objectives to have a visual representation of it.

HARMONIZATION OF LIMITED RESOURCES WITH ESTABLISHED OBJECTIVES

Every project requires a series of resources to be carried out. The resources necessary for the
development of the project are generally classified into four types:

a) Human : To launch any type of project, you must have adequate and trained people to carry out the
planned activities and tasks. When projects have the purpose of contributing to community
development, we assume that there are two clearly identified parts, one made up of members of the
related communities and the other made up of the support group or development agents. For the
participation and commitment of each of the parties to be effective, it is essential that both are able to
do so. You must always make clear the role of each member of the group and the fact that taking on
different tasks does not necessarily mean that one part is established vertically or dominantly over the
other.
b) Physical: Physical resources traditionally include various items such as land, buildings, machinery,
equipment, infrastructure, bibliography, documentation, means of transportation, etc. However, these
types of resources do not always have to be acquired, but they can be covered or supplied with what
you have. When there is conviction and sufficient motivation to undertake a mission, it is important to
encourage the mobilization of resources where everyone contributes what they can. A very timely
exercise is to make an inventory of the resources available to both communities and support groups.
Sometimes due to simple ignorance, what we need is left unavailable until its supposed achievement.

c) Technical : If the project includes this type of component, it is necessary to establish the technical
alternatives chosen and the technologies to be used. When a project contemplates the adoption of
technological innovations, it is good to keep in mind that, most likely, the adoption of the innovation will
not occur in its entirety. The technology transfer process is two-way, that is, the proposal generally
presented by the group of development agents, upon encountering the technology traditionally
implemented in the communities, enters into a dialogue process where both are transformed to evolve.
to a third proposal resulting from their conjunction.

d) Financial : Financial resources refer to the budget necessary for the operation of the project. We
know that any action has a cost that is assumed by all parties involved in its implementation. The
resources do not necessarily have to come from entities specialized in financing projects.

Although depending on the specificities, these external resources may be indispensable, the main
contributions come from locally influential support groups and the participating communities
themselves. The opportunity cost of the time of the producers who attend the meetings and workshops,
the cost of mobilizing the development promoters to the villages, the time dedicated to the specific
tasks of the project by the local promoters themselves, the use of the site in where the meetings are
held, the cost of using the land on the producers' farms for the assembly of demonstration plots, are
some examples of the financial resources contributed by the project owners.

Planning the parameters of a project. (Scope, structure, specifications and estimates of times,
costs and resources).
The objective of project planning is to obtain a distribution of activities over time and a use of resources
that minimizes the cost of the project, complying with the required conditions of: execution period,
technology to be used, available resources, maximum level of occupation of said resources, etc.

Therefore, project planning is a programming of activities and management of resources to obtain a

cost objective, meeting the conditions required by our client.

The planning part includes preparing the plan, program and budget in great detail. Generally, during the
proposal (second) phase, the time and expense required to do detailed planning is not justified:
1. Clearly define the objective of the project. The definition has to be accepted by the client and the
person or organization that will carry out the project.
2. Break down the project scope into major “pieces,” or work packages. Although major projects may
seem overwhelming when viewed as a whole, one way to master the most monumental undertaking is
to break it down. The work breakdown structure is a hierarchical tree of the work elements or items
that the team performs or produces during the project. Often the work breakdown structure identifies
the organization or individual person responsible for each work package.
3. Define the specific activities that are necessary to carry out in each work package in order to
achieve the project objective.
4. Present the activities graphically in the form of a network diagram. This diagram shows the
necessary order and interdependencies of activities to achieve the project objective.
5. Calculate the estimated time it will take to complete each activity. It is also necessary to determine
the types of resources and the amount of each of them required to complete each activity within the
estimated time.
 Calculate the estimated cost for each activity. The cost is based on the types and amounts of
resources required for each activity.
7. Calculate a schedule and budget for the project to determine if it can be accomplished within the
required time, with the funds allocated, and with the resources available. If not, adjustments must be
made to the project scope, estimated activity times, or resource allocations until a baseline plan (a
schedule for achieving the project scope on time and on time) can be established. within budget), that
is feasible and realistic.

Planning determines what needs to be done, who will do it, how much time it will take, and how much it
will cost. The result of this effort is a baseline plan. Taking the time to develop a well-thought-out plan is
critical to the successful completion of any project.

Project Scope:
A project in which the scope definition is not carried out correctly is a project condemned to major
problems in its planning, execution, and control, so its probability of this is considerably reduced.

Structures:
Functional organizations provide the basic foundation from which project-oriented activities are carried
out; The project integrates the team's efforts to achieve the project objectives. The project manager,
who serves as the focal point for project activities, determines the "when" and "what" of the work;
Functional managers, by supporting all projects, determine "how" the work will be done.

Under the concept of project management, representatives from each of the functional departments of
the divisions are assigned to the team assigned to the project. Each team member derives expert
functional guidance and administrative control from the department manager. The team includes the
following key personnel:
 Project manager
 Project Engineer
 Project construction manager
 Project commissioning engineer
 Project quality assurance engineer
 Project cost and schedule supervisor
 Project Manager
 Project Sourcing Manager
 Project Controller Assistant

The main responsibilities of team members are defined in the following paragraphs:

Project manager.
The project manager is responsible for the total execution of the project based on the contract, the
needs of the client, the criteria of regulatory agencies and the specific commitments of the corporation.
Their main goal is to keep the project within budget, on schedule, and complete it according to quality
standards acceptable to the client and the company.

Project Engineer.
The project engineer is responsible for the engineering work on the project. This work includes
preparing documents regarding the technical objectives describing the project, developing the
engineering plan and budget, and developing the project design. Ensure design quality, provide
technical support to other departments and the client.

Project construction manager.

The project construction manager is responsible for all company activities on the job site. This includes
supervision of direct-hire labor, administration of construction contracts, field engineering, field
procurement, workplace safety, construction quality control, job site accounting, and receiving and
safekeeping. temporary plant equipment and materials separately.

Project construction construction coordinator.

Assists the construction manager by evaluating construction costs and schedules. Coordinates the
activities of job site personnel with design, procurement, cost and schedule, and construction
engineering headquarters personnel.

Project start-up engineer.

He is responsible for planning the project's pre-operational testing services.

Project quality assurance engineer.

He is responsible for the implementation of the quality assurance program for the work and for
supervising and auditing the quality activities of engineering, procurement, construction, materials and
manufacturing groups on the project.

Project cost and scheduling supervisor.

Responsible for preparing project estimates, budgets and schedules and for forecasting and
supervising construction costs and progress. Must implement a materials quality program and direct the
preparation of economic studies.

Project administrator.
Responsible for providing staffing support and monitoring all administrative/office services required by
team members assigned to the project. As well as producing project procedure manuals and other
internal ones.

Project procurement manager.

Responsible for all procurement functions required by the project, including field and headquarters
procurement.
Project controller assistant.
Responsible for all financial and accounting matters for the project, such as general accounting, payroll,
accounts payable, invoices, employee accounts, time recording, accounts receivable, and obligation
and liability records. costs.

Project specifications:
The concept in preparing plans and specifications is that the project plans define the geometry
including dimensions, shape and details while the specifications complement this by defining general
aspects, materials and the necessary workmanship. One of the problems encountered is that the
specifications are poorly organized. These tend to be bulky and it is very difficult to find what you want if
they are not organized well. In addition, some mix different types of information in the same paragraph,
which contributes to increasing confusion.

ESTABLISHMENT OF OBJECTIVES ACCORDING TO THE LIFE CYCLE OF A PROJECT

The objectives describe the desirable state to which we want to reach, answering the questions : Why
do we want to do and what do we hope to obtain? once the program or project has been
executed.

A basic principle in project management is the definition of objectives.

Many of the reasons why projects fail are because of inadequate planning. To plan projects, a method
called Logical Framework is used, which is effective in formulating plans based on interest groups,
problems and pursuing change.
The fundamental structure of the project as conceived in the Logical Framework consists of a series of
basic elements of the project, ranked as follows:

LOGICAL FRAMEWORK / HIERARCHY OF OBJECTIVES

TO. General or development objective . End, purpose or goal of a project.
It expresses the change that is expected to be achieved in the manifestations of a problem and when
considered it is transformed into final goals.
In a project, only one general objective is formulated; it must have a logical relationship with the
problem posed and is long-term.
b. Specific or immediate objective . It details, breaks down, defines the specific expected results,
indicators and measurement procedures. It can be more than one, its formulation must be clear, which
can specify the tasks to be developed, being formulated in logical and chronological order.
c. Activities required to produce products or results.
d. Resources

The objectives must have the following characteristics:

 Pose only those objectives of which you are certain of their fulfillment.
 Express a single action
 They must be organized in order of hierarchy
 They must be consistent with the resources available.
 Structure in logical sequence: from the simplest to the most complicated.
 Write them clearly and begin with an infinitive verb. For example: determine, analyze, verify,
coordinate, collaborate, train, install, eradicate, direct, increase, carry out, etc. It is
recommended not to use the following verbs: know and understand , as they can be
considered ambiguous and their interpretation tends to cause confusion.
 They must be achievable, have a purpose, and be aimed at achieving achievements.

When writing objectives, they can be expressed in:

Qualitative form. They refer to the quality, quality, value or weighting of characteristics or features that
distinguish a product, good or service.
Example:
Establish an advertising program, through tastings in supermarkets to make the product known in the
market.

Quantitative form: It is expressed numerically and indicates conditions of place, quantity and time.
Example: Provide the pentavalent vaccine twice a year in communities where the child population is at
risk.

GUIDING QUESTIONS TO ESTABLISH OBJECTIVES

WHAT DO YOU WANT TO KNOW? WHAT OBJECTIVE TO SET?

How is? Who are they? How many there are? Describe: encode, enumerate, classify, identify,
diagnose.
What is the difference between these groups? Compare: associate, differentiate, compare

What are the elements that make up this Analyze: criticize, point out, supervise, investigate
phenomenon?

Why does this phenomenon occur? What are the Explain: deduce, warn, conclude
causes that originated it?

How does this phenomenon present itself in the Predict: foresee, forecast.
given circumstances?

What should be the characteristics of this Propose: propose, formulate, design, project,
project that allow it to achieve the objectives? create, program.
 What changes can occur in this phenomenon with Modify: change, organize, improve, promote.
the application of this program?

Is there a relationship between these two factors? Confirm: verify, verify, demonstrate.

To what extent is the design of this program Evaluate: evaluate, appreciate, estimate, consider,
achieving the proposed objectives? adjust

Harmonization of resources and established objectives

Every project involves expenses, so it is essential to know in advance what resources will be needed.
Planning always has the commitment to combine objectives and resources at precise times and
quantities.
Among the resources needed to carry out a project are:
Human resources , to execute any type of project, you must have adequate and trained people to
carry out the planned tasks.
Material resources. They are the tools, equipment, instruments, furniture, machinery, vehicles,
physical infrastructure (buildings or facilities), consumables (consumables), etc., necessary to carry out
the project.
The technical resources. They are the alternatives of creating and using technical means or
technologies chosen as the most suitable for the project.
Financial resources. It consists of an estimate of the funds necessary to carry out the project.
Within the financial resources, it is necessary to consider unforeseen and miscellaneous events,
eventualities always arise and it is necessary to estimate between 5 to 6% more (symbolic amount) of
the total expense.