Project Classification

Project Classification

A project is a scientifically evolved work plan devised to achieve a specific objective within a specified period of time. It is an individual or collaborative enterprise that is carefully planned to achieve a particular aim.

Following are the major types of project –

(1) Quantifiable and Non-quantifiable projects: Projects for which a plausible quantitative assessment of benefits can be made art called “quantifiable projects”. Projects concerned with industrial development, power generation fall in this category.

On the contrary, Projects for which a plausible quantitative assessment of benefits cannot be made are called “Non-quantifiable projects”. Non-quantifiable projects are those where such assessment is not; possible e.g., Health education, defense etc.

(2) Sectoral projects: Sectoral projects have their specific sectors, such as Agriculture and similar sector Irrigation and power sector. Sectoral means relating to the various economic sectors of a society or to a particular economic sector.

  • Industry and Mining sector,
  • Transport and Communication sector,
  • The social services sector,
  • Miscellaneous sector.

(3) Techno-Economic projects: This type of classification includes factors intensity-oriented classification, causation• oriented classification, and magnitude-oriented classification.

  • factor intensity-oriented classification: capital intensive or labor intensive.
  • causation-oriented classification: demand-based or raw material based projects.
  • Magnitude-oriented classification: large-scale, medium-scale or small-scale projects.

So, these are the various types of projects.