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Industrial Project Management Requires Commitment And Knowledge!

Industrial Project Management seems like a lucrative term and indeed it is however it requires deep knowledge and expertise. While we may think that because it is our project, who else will know it better than us but when you actually start doing it, the need for full time dedication arises. The conception of a project happens when you think about an idea post which you need to give proper shape to it.

Tasks such as estimation and allocation of resources, scheduling, project task coordination, procurement assistance, and mechanical and electrical bid requests are a part of the project management process. While doing a project you also need to do risk management and take care of the quality management aspect. Apart from this you are required to control the project execution, implement a management information system, forecast future trends through the project and instill ways of preventing defects.

Electrical and design controls is a separate area altogether that includes responsibilities of process control, doing single line diagrams, preparing layouts, programming and peripheral equipment interfacing. Some on-site services also need to be taken care of such as field management, equipment check-out and systems start-up. Site selection and market research are two other areas that require expert guidance and complete dedication.

An important aspect of project management is information about subsidies being provided by the government. That's because a project demands huge capital and if you have someone to pay up to 50% of your expenditure, then what else can you ask for! The government has introduced various subsidies and schemes to promote growth and expansion of various sectors. Some of the existing benefits in the manufacturing and industrial sector are of up to Rs. 40 crore each in Plastic, Textile and Leather Park. You can also avail a help of up to Rs. 60 crore for Industrial Park and up to Rs. 17 crore for Small Scale Industries.

Another activity that asks for time, effort and knowledge is the process of taking the required approvals. This includes industrial zoning, water and power approvals, and approvals equivalent to Industrial Development Corporation. Along with this you also need to concentrate on land development and acquisitions if that's the requirement. Registration, taxation and funding are few other duties involved in this process.

Not to be forgotten, project management process also involves the project marketing activity. Here you need to do tasks such as gap analysis of demand and supply, market share and revenue forecasting, pricing and penetration strategy, and option creation and evaluation for marketing mix.

While some of the activities talked about above may sound very simple and easy going however even one miss can cost a lot as every aspect of industrial project management has huge relevance. So a full time committed team is a must for a successful project, especially when you spend so much on it.

Ateeya Manzoor is a Skilled Strategic, Risk Manager associated with Mayfair Management Group with over 20 years of experience. Through her 20+ year career spanning Bay Street and Main Street, she has worked on projects in the technology, legal, hospitality, property development, engineering, oil and gas and professional development industries.

 

Her talent is to anchor in businesses requiring structure or a fresh perspective. Clients value her vision and unrelenting commitment to delivering tangible results.
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