Detailed project report

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Radhika (Querist)
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22 March 2021 Wht is this detailed project report
By whom it should be prepared
And wht r the uses of having it before starting a business

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 March 2021 It should be prepared by an experienced project consultant.

Detailed Project Report: Meaning and its contents

After the planning and the designing part of a project are completed, a detailed project report is prepared. A detailed project report is a very extensive and elaborative outline of a project, which includes essential information such as the resources and tasks to be carried out in order to make the project turn into a success. It can also be said that it is the final blueprint of a project after which the implementation and operational process can occur. In this comprehensive project report, the roles and responsibilities are highlighted along with the safety measures if any issue arises while carrying out the plan.

The following points play an essential role in deciding whether a project turns into success:

Completion of the project within the stipulated period
Priority to client satisfaction by delivering quality product after the completion of the project
Completion of the project within the set limits of escalation of cost
The blueprint design's focus has to be to convert the corporate investment into a project idea that gives good monetary returns. A detailed project report depicts a practical viewpoint for the implementation of the project. The requirements and risks should also be highlighted in a detailed manner to prevent any troubles that can delay or halt the execution of the project. Hence effective measures must also be stated so that the execution of the project can be carried out hassle-free.

Contents of a detailed project report
A detailed project report must include the following information:

Brief information about the project
Experience and skills of the people involved in the promotion of the project
Details and practical results of the industrial concerns of the promoters of the project
Project finance and sources of financing
Government approvals
Raw material requirement
Details of the requisite securities to be given to various financial organizations
Other important details of the proffered project idea include information about management teams for the project, details about the building, plant, machinery, etc.

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