An entrepreneur must prepare a project report before proceeding the launch his venture. The feasibility study is basically a prelude to the decision that he would make for initiating the venture. Once the entrepreneur is satisfied with the feasibility of his project, he should take the next step of drafting a Project Report.

Nature of Project Report

A features of a project report are as follows:
•    It is basically a business plan.
•    It outlines the desired goals.
•    It describes all necessary inputs to the enterprise.
•    It explains the mode of utilization of the resource.
•    It details the strategies for the execution of the project.

Objectives of Project Report

The objectives of preparing the project report are as follows:

(i)    To identify the requirement of the resources (technical, financial, commercial, managerial and operational)

(ii)    To assess the chances of the success of the enterprise before its actual commencement.

(iii)    To find out the critical components of the project idea.

(iv)    To obtain opinions of experts from various fields viz., technical, financial, marketing, production, legal etc.

(v)    To enable the licensing of the enterprise by the concerned authorities and seeding registration for various utilities like water, electricity, transport, communication, etc.,

(vi)    To facilitate financial appraisal of the project by financial institutions, banks, insurance companies etc.

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