Double Wave: Project Selection 

 

Choosing a Project to start can be a difficult undertaking, especially if you have a lot of ideas, but just cannot make up your mind. But even if you have no idea about what project to start, you have to consider a number of factors in your decision making process.

 

First few questions that you should asked yourself:-

 

- Is it a viable business proposition in your area?
- Does it match the needs of your clientele?

- Does the idea fire up your motivation?

- Is it a sunrise industry?

 

Following factors also keep in mind that:-


- Check it out with basic market research
- Test it out at market place
- Consult with the experts
- Look out for competition in the field
- Your business opportunity
- Project conceptualization

 

Also taken into consideration 4Ps concepts i.e.,

 

Ø  PRODUCT (Shape, Size and Nature)

Ø  PROCESS (Technology to produce the product)

Ø  PLACE (Location of Plant)

Ø  PARTNER (Technological of Financial Collaborator)


Once the product is finalised, choices of
process technology emerge.