**Following are the types of Project appraisal: ---- 1. Political Appraisal 3. Environmental Appraisal 5.

Financial Appraisal 2. Social Appraisal 4. Techno-legal Appraisal 6. Economical Appraisal -- Political

appraisal is an Important type of project appraisal. It is concerned with appraising the government policies
both at the central and state levels. For any project, it is important to abide by government's policy.
Government policies encompass various guidelines and regulations for specific industries. Some of the
industries get favourable policies which prove beneficial for the new projects specially. Apart from that
there are specific laws to be followed by industries. Ce's easy-solutions While appraising the political
condition, an organization looks at the following related with a new project: -- Political Stability: Political
stability means a stable government in the state or country. A stable government has a stable, progressive
and long term policies for the benefits of different sectors / industries. There is no fear of change of
policies in the mid way. Organizations have fair understanding of the pros and cons of the policies which
help them take a clear decision. Industrial Policy: Governments at the centre or state generally have
industrial policies which focus at different industries and sectors at different time. Some of the policies
are favourable to certain priority sectors as fixed by the government. This is generally an attempt by
governments, to attract new projects

**Project Selection Criteria --- Selecting the right project is always a challenging job because a lot of
resources, time and money are involved in it. Organizations regularly face the challenge of choosing
among a variety of projects. It is therefore important for an organization to select the project that would
give the best value to the organization. The big challenge then is how an organization can identify the
project to select from the various options. There must be clearly identified criteria on which the project
returns must be measured. Following are some of the criteria: 1. Cost/benefit ratio: This is the ratio
between the Present Inflow Value and Present Outflow Value. Present inflow value is the cost invested in
any project while the outflow value is the project's value returns. Preferred projects are those which have
more Benefit/Cost Ratio or lower Cost/Benefit Ratio 2. Net Present Value or NPV: This is the difference
between cash inflow's present value and cash outflow's present value. This NPV must be positive at all
times. If there are multiple projects, choose one with higher NPV. 3. Internal rate of return: This is the rate
of interest where NPV is zero. The state gets attained when present outflow value equals present inflow
value. 4. Payback period: This is the ratio of total cash to average cash per period. In other words, it is the
time required to recover the project's investment. 5. Break-Even Analysis: A break-even analysis is a
financial tool that helps determine at what stage a company, or a new service or a product, will be
profitable.

**Principles of cost-benefit analysis ⚫ Discounting the costs and benefits ---- ⚫ Defining a particular study
area: The impact of a project should be defined for a particular study area. Example: A city, region, state,
nation or the world. It's possible that the effects of a project may "net out" over one study area but not
over a smaller one. The specification of the study area may be subjective but it can impact the analysis to
a major extent ⚫ Addressing uncertainties precisely - Business decisions are clouded by uncertainties. A
Cost-Benefit Analysis must disclose areas of uncertainty and discretely describe how each uncertainty,
assumption or ambiguity has been addressed. ⚫ Double counting of cost and benefits must be avoided
Sometimes though each of benefits or costs are seen as a distinct feature, they might be producing the
same economic value, resulting in the dual counting of elements. Hence these need to be avoided.
**Write a short note on: NPV (Net Present Value) Ans: ---- NPV (Net Present Value) This is one of the
widely used methods for evaluating capital investment proposals. In this technique the cash inflow that is
expected at different periods of time is discounted at a particular rate. The present values of the cash
inflow are compared to the original investment. If the difference between them is positive then it is
accepted or otherwise rejected. This method considers the time value of money and is consistent with
the objective of maximizing profits for the owners. Net Present Value is the calculation of the present
value of cash inflows minus the present value of cash outflows, where present value defines what will be
the worth of the future sum of money as of today. ⚫ If you are investing in certain investments or projects
if it produces positive NPV or NPV >0 then you can accept that project this will show the additional value
to your wealth. And in case of negative NPV or NPV-0, you should not accept the project.

**Internal Rate of Return (IRR) ---- The Internal Rate of Return (IRR) is a discounting cash flow technique
which gives a rate of return earned by a project. The internal rate of return is the discounting rate where
the total of initial cash outlay and discounted cash inflows are equal to zera. In other words, it is the
discounting rate at which the Net Present Value (NPV) is equal to zero. ⚫ For the computation of the
internal rate of return, we use the same formula as NPV. To derive the IRR, an analyst has to rely on trial
and error method and cannot use analytical methods. With automation, various software like Microsoft
Excel is also available to calculate IRR. In Excel, there is a financial function that uses cash flows at regular
intervals for calculation. Cash Flows (1+r)-Initial Investment. The rate at which the cost of investment and
the present value of future cash flows matches is considered as the A project that can achieve this is a
profitable project. In other words, at this rate the cash outflows and the Ideal rate of return. present value
of inflows are equal, making the project attractive.

**Accounting Rate of Return Method (ARR) ---- This method helps to overcome the disadvantages of the
payback period method. The rate of return is expressed as a percentage of the earnings of the investment
in a particular project. It works on the criteria that any project having ARR higher than the minimum rate
established by the management will be considered and those below the predetermined rate are rejected.
This method takes into account the entire economic life of a project providing a better means of
comparison. It also ensures compensation of expected profitability of projects through the concept of net
earnings. However, this method also ignores time value of money and doesn't consider the length of life
of the projects.

**Break-Even Analysis ---- A break-even analysis is a financial tool which helps you to determine at what
stage your company, or a new service or a product, will be profitable. In other words, it's a financial
calculation for determining the number of products or services a company should sell to cover its costs
(particularly fixed costs). Break-even is a situation where you are neither making money nor losing money,
but all your costs have been covered. ⚫ Break-even analysis is useful in studying the relation between the
variable cost, fixed cost and revenue. Generally, a company with low fixed costs will have a low break-
even point of sale. 1. Fixed costs ⚫ Fixed costs are also called as the overhead cost. These overhead costs
occur after the decision to start an economic activity is taken and these costs are directly related to the
level of production, but not the quantity of production. ⚫ Fixed costs include (but are not limited to)
interest, taxes, salaries, rent, depreciation costs, labour costs, energy costs etc. These costs are fixed no
matter how much you sell. 2. Variable costs ⚫ Variable costs are costs that will increase or decrease in
direct relation to the production volume. ⚫ These costs include cost of raw material, packaging cost, fuel
and other costs that are directly related to the production.
**Study of Project Feasibility Report. ---- Every new project is started after preparing and studying a
detailed Project Feasibility Report A feasibility study is simply an assessment of the practicality of a
proposed plan or method. ⚫For example, it asks you whether you have or can you create the technology
to do what you propose? Do you have the people, tools and the other resources necessary? And, will the
project get you the ROI you expect? So, a feasibility report is prepared after analyzing the viability of a
project on different parameter such as social. economic, technical, etc. It tells us whether a project is
worth the investment as in some cases a project may not be a viable investment. There can be many
reasons for this, including requiring too many resources, which not only prevents those resources from
performing other tasks but also may cost more than an organization would earn back by taking on a
project that isn't profitable. The feasibility study is the foundation upon which your project resides. If it
doesn't support your project you don't have a project. A feasibility study is in the project life cycle after
the business case has been completed. ⚫ A well-designed feasibility study offers a detailed and sound
background of the business relating to the proposed project, such as a description of the product or
service, accounting statements, details of operations and management, marketing research and policies,
financial data, legal requirements, and tax obligations. Generally, such studies precede technical
development and project implementation.

**Importance of Project Economics :---- Project economics studies the economic and financial factors of
industrial economics, which influence industrial decision making. Project economics combine engineers
and economics in which engineers are the people familiar with all the technicalities of machinery and
production and are the best judges of the usefulness of an asset and they also have the technical
knowledge to calculate the number of units a proposed plant should produce to be economically viable.
• In today's competitive world of business it has become essential that project managers practice financial
project analysis for projects and make rational decisions. easy-solutions Project economics also includes
the study of accounting practices for manufacturing concerns. Project economics deals with the
justification and selection of projects. Engineers who work on those projects address a specified activity
or a problem and justify its selection or rejection. In business environments, many if not all, decisions are
justified using monetary criteria such as "profie". Such decisions are made at the managerial level and
many engineers become managers in manufacturing environment. Even though, Project economics deals
mostly with selection of projects in business environment, the tools and methods can be and are used by
individuals and non-profit organizations such as government, hospitals, and charitable entities also.

**Types of Elasticity: ⚫ Distinction may be made between Price Elasticity, Income Elasticity and Cross
Elasticity. Price Elasticity is the responsiveness of demand to change in price; income elasticity means a
change in demand in response to a change in the consumer's income; and cross elasticity means a change
in the demand for a commodity owing to change in the price of another commodity. Degrees of Elasticity
of Demand We have seen above that some commodities have very elastic demand, while others have less
elastic demand. Let as now try to understand the different degrees of elasticity of demand with the help
of curves. 1. Case 1-Inelastic Demand In this case, there is little change in demand even with a big change
in price. Things of daily needs have mostly the same demand irrespective of the change in prices. For
example: Petroleum products Inelastic Demand (Ped < 1) If the co-efficient of price elasticity of demand
<1, then demand is said to be price inelastic be unresponsive to a change in price. Following a change in
price, the total revenue earned by the producing firm will depend on PED for its product.
**Annuities :---- Annuities are financial products that guarantee a fixed-income stream, primarily for
retirees, in exchange of monthly payments made by the investor over a period of time. Annuities can be
structured into different kinds of instruments fixed, variable, immediate, deferred income- that provide
Investors with flexibility in terms of payouts. Annuities are designed to be a reliable means of securing
steady cash flow for an individual during their retirement years and to alleviate fears of risk or outliving
one's assets. Annuities are created and sold by financial institutions, which accept and invest funds from
individuals. Upon annuitization, the holding institution will issue a stream of payments at a later point in
time. ⚫ The period of time when annuity is funded and payouts begin is referred to as the accumulation
phase. Once payments commence, the contract is in the annuitization phase. ⚫ Defined benefit pensions
and Social Security are two examples of lifetime guaranteed annuities that pay retirees a steady cash flow
until they pass. *Annuity Types:-- Fixed annuities: Fixed annuities guarantee that you'll earn a certain
amount of interest (usually less than you could earn in the stock market or with mutual funds), but also
offer a guaranteed payout. Variable annuities: Variable annuities allow you to choose your risk level with
different Investment options. you select. Indexed annuities: Indexed annuities earn a return pegged to a
market index so that if your annuity performs well, your monthly payout in retirement could be higher.

**Law of substitution. ---- The law of substitution/equi-marginal utility is simply an extension of law of
diminishing marginal utility to two or more than two commodities. This law is known by various names. It
is named as the Law of Substitution, the Law of Maximum Satisfaction, the Law of Indifference, etc. This
law is stated in the following words: "The household maximizing the utility will so allocate the expenditure
between commodities that the utility of the last penny spent on each item is equal". As we know, every
consumer has unlimited wants. However, the income to disposal at any time is limited. The consumer is,
therefore, faced with a choice among many commodities that he can and would like to pay. He, therefore,
consciously or unconsciously compress the satisfaction which he obtains from the purchase of the
commodity and the price which he pays for it. If he thinks the utility of the commodity is greater or at-
least equal to the loss of utility of money price, he buys that commodity. As he buys more and more of
that commodity, the utility of the successive units begins to diminish. He stops further purchase of the
commodity at a point where the marginal utility of the commodity and its price are just equal. . If he
pushes the purchase further from his point of equilibrium, then the marginal utility of the commodity will
be less than that of price and the household will be loser. A consumer will be in equilibrium with a single
commodity symbolically: MU, P. A prudent consumer in order to get the maximum satisfaction from his
limited means compares not only the utility of a particular commodity and the price but also the utility of
the other commodities which he can buy with his scarce resources. If he finds that a particular expenditure
in one use is yielding less utility than that of other, he will tie to transfer a unit of expenditure from the
commodity yielding less marginal utility. ⚫ The consumer will reach his equilibrium position when it will
not be possible for him to increase the total utility by uses. ⚫ The position of equilibrium will be reached
when the marginal utility of each good is in proportion to its price and the ratio of the prices of all goods
is equal to the ratio of their marginal utilities. ⚫ The consumer will maximize total utility from his income
when the utility from the last rupee spent on each good is the same.
**Types of Capital ---- 1. Fixed Capital :Fixed capital is an initial investment made in the business. It helps
to lay down the basic infrastructure on which business is supposed to stand and flourish in a long run. It
is a part of total capital invested in the business. It has a permanent existence in the business to meet its
long-term needs. It is used for purchasing fixed assets like land, building, plant, machinery, etc. It is also
used for purchasing intangible assets like patents, copyrights, goodwill, etc. ⚫ Fixed Capital is required for
promotion, expansion, modernization and diversification of business. Fixed capital gets depreciated as it
is used over time. Its requirement is estimated by the promoters of business. This estimation must be
made as accurately as possible. es easy-solutions Common examples of fixed Plant and machinery. capital
investments are as follows: Factory's land and its buildings. Company's headquarter, administrative areas,
regional and local offices, and their premises. Characteristics/Features of fixed capital Purchase of fixed
assets. Low liquidity. Permanent in nature, Primary sources. Long-term needs of business. Source of
wealth and risk.

**Construction Sector ---- Construction is an important sector that contributes greatly in the economic
growth of a nation. The Construction Industry is an investment-led sector where government shows high
interest. Government contracts with Construction Industry to develop infrastructure related to health,
transport as well as education sector. For prosperity of any nation, Construction Industry is quintessential.
Construction sector and construction activities are considered to be one of the major sources of economic
growth, development and economic activities. Construction and engineering services industry play an
important role in the economic uplift and development of the country. It can be regarded as a mechanism
of generating the employment and offering job opportunities to millions of unskilled, semiskilled and
skilled work force. It also plays key role in generating income in both formal and informal sector. It
supplements the foreign exchange earnings derived from trade in construction material and engineering
services. The construction sector is visualized to plays a powerful role in economic growth, in addition to
producing structures that adds to productivity and quality of life.

**FDI in Infrastructure ---- Infrastructure sector is a key driver for the Indian economy. The sector is highly
responsible for propelling India's overall development and enjoys intense focus from Government for
initiating policies that would ensure time-bound creation of world class infrastructure in the country.
Infrastructure sector includes power, bridges, dams, roads and urban infrastructure development. In
2018, India ranked 44th out of 167 countries in World Bank's Logistics Performance Index (LPI) 2018.
Foreign Direct Investment (FDI) received in Construction Development sector (townships, housing, built
up infrastructure and construction development projects) from April 2000 to March 2019 stood at USS
25.05 billion, according to the Department of Industrial Policy and Promotion (DIPP). The logistics sector
in India is growing at a CAGR of 10.5 per cent annually and is expected to reach US$ 215 billion in 2020.
India has a requirement of investment worth Rs. 50 trillion (US$ 777.73 billion) in infrastructure by 2022
to have sustainable development in the country. India is witnessing significant interest from international
investors in the infrastructure space. Some key investments in the sector are listed below. In 2018,
infrastructure sector in India witnessed private equity and venture capital investments worth US$ 1.97
billion. In June 2018, the Asian Infrastructure Investment Bank (AIB) has announced US$ 200 million
investment into the National Investment & Infrastructure Fund (NIIF). Indian infrastructure sector
witnessed 91 M&A deals worth US$ 5.4 billion in 2017
**The stepsin project scheduling for a construction of road project ---- Step 1: Define the Schedule
Activities Take your Work Breakdown Structure (WBS) work packages and decompose them further into
schedule activities. Take each WBS work package, and decide what activities are required to construct the
road. Step 2: Sequence the Activities In the second step we sequence the schedule activities by simply
placing them in the order in which they need to happen. In some cases two or more activities can be done
simultaneously. Perhaps we can set up the mall clientmwhile other applications are being installed. This
step is where we look at the different types of schedule dependencies such as finish-to-start, start-to-
start, finish-to-finish, and start-to-finish to figure out how each of these activities relate to each other.
Step 3: Estimate the Resources Needed for the Activity The third step involves estimating what resources
will be required to accomplish each activity. This includes estimating needed team resources, financial
resources, and equipment. These resource needs should be selected for each activity prior to estimating
the duration of each activity which is the next step. Step 4: Estimating the Duration of Each of the Activities
This step requires you and your team to analyze how long it will take to accomplish each of the activities.

**Application of project management software's in housing projects ---- Project management software is
a computer program that helps people involved in the project management process to initiate, plan,
execute, monitor and close projects of any size and type. It is designed to plan and document project tasks
and activities, build schedules and timelines, solve project issues, manage risks and threats, assign budgets
and control costs, establish collaboration and cooperation between project participants, assure and
control quality, assemble project teams and organize human resources. and share information. The list of
project management software capabilities is large enough but the main idea of PM application software
is to allow you to take your project through all the stages of project life cycle, from project
conceptualization and initiation through project execution, control and completion. The importance of
project management software consists in providing you with tools that allow keeping ahead of rivals and
continuously working on improvement of tasks, services and processes with very short time-to- market.
The best software for project management significantly helps achieve success in developing, producing
and delivering your product allowing combining project activities with cross-functional expertise. Project
management software helps project managers and their teams to complete project as per client's
requirements and manage time, budget, and scope constraints.

**Network Updating ---- During the execution of a project, we may come across one or more of the
following possibilities: Some or all activities are progressing according to schedule Some or all activities
are ahead of schedule. Some all activities are behind schedule. Based on the progress of the activities at
times the network diagram has to be redrawn as durations of unfinished activities due to delays. This
process is known as updating of network 34/88 Steps in the process of updating are as follows: To describe
the point at which updating is to be done according to the original plan. To record work progress what
has happened actually till the updating point. To summarize the knowledge obtained in the tabular form.
To place the information contained in the updating table on to the original network. To perform
calculations of EST and LST and mark these on the network known as updated network. Updating helps in
evaluating the present status of the project and assess the probability of completing the project in due
time. Updating enables to take corrective actions in time and take managerial decisions in problem areas.
The updating must regularly be done.
**Earned Value Analysis (EVA) ---- Earned Value Analysis (EVA) is one of the key tools and techniques used
in Project Management to have an understanding of how the project is progressing EVA monitors the
progress of the project based on its earnings or money. Both, schedule and cost are calculated on the
basis of EVA. Project control takes place against the cost baseline using a technique called Earned Value.
In this technique, several variables are determined from actual progress on the project tasks, and several
more variables are calculated from them, and reported. 1. Features of EVA Earned Value Analysis is an
objective method to measure project performance in terms of scope, time and cost. ⚫ EVA metrics are
used to measure project health and project performance. ⚫ Earned Value Analysis is a quantitative
technique for assessing progress as the software project team moves through the work tasks, allocated
to the Project Schedule. EVA provides a common value scale for every project task. Total hours to
complete the project are estimated and every task is given an Earned Value, based on its estimated
completion (%) of the total. Earned Value is a measure of Progress' to assess 'Percentage of Completeness'
2. Need for EVA ⚫ EVA provides different measures of progress for different types of tasks. It is the single
way for measuring everything in a project. Provides an 'Early Warning signal for prompt corrective action.
The types of signals can be the following: Bad news: Holding on to the bad news does not help. The project
manager needs to take an immediate action. Still time to recover: In case, the project is not going as per
schedule and may get delayed, the situation is needed to be taken care of by finding out the reasons that
are causing delay and taking the required corrective action.

**Important steps in project monitoring include the following ---- ⚫ Study of the project, its schedule,
and costs. Selection of the parameters to be monitored. ⚫ Selection of the frequency of reporting and its
format. Collection of data for the parameters being monitored. ⚫ Analysis of the data by using
appropriate monitoring technique. ⚫ Presentation of the analyzed data and reporting it to the
management. • Review of the presented data by the management for decision making.

**Network Crashing. ---- Project management is about optimizing time, cost, and quality performance on
projects. These three variables are intrinsically linked. Changes in requirements of these variables
frequently occur and the project manager has to re-plan the project accordingly and provide revised
estimates for the linked variables. In practice the most common requirement for project re-planning
calculations concern time and cost. Clients often ask for projects to be speeded up and need to know how
much of an increase in speed is possible along with cost. The analysis and execution of change of time and
its corresponding impact on cost is commonly known Network crashing In crash analysis, a project
manager offers re-planning advice based on the functional The objective is to look at that relationship for
the process concerned and to generate an alternative cost and time scenarios. The client can see how
much it will cost to meet a range of different time options. In network crash analysis, the project manager
offers re-planning advice based on the relationships between time and cost. This of course assumes that
performance or quality criteria are fixed, as is the case in relationship between time and cost. Most
projects. In most cases the specified outcome is fixed. A Guide to the Project Management Body of
Knowledge (PMBOK® Guide) Fourth Edition defines network crashing as, "A schedule compression
technique in which costs and schedule tradeoffs are analyzed to determine how to obtain the greatest
amount of compression for the least incremental cost." As a compression technique, network crashing
concentrates on the project schedule in an effort to accelerate the project's completion date. Plausible
examples of crashing include the following: Over-time Allocating additional resources to specific activities
o Hiring additional resources - Incentive payments for early completion
**Resource Leveling: ---- Resource levelling is a technique in project management that overlooks resource
allocation and resolves possible conflict arising from over-allocation. When project managers undertake
a project, they need to plan their resources accordingly. This will benefit the organization without having
to face conflicts and not being able to deliver on time. Resource levelling is considered one of the key
elements to resource management in the organization. An organization starts to face problems if
resources are not allocated properly Le, some resource may be over- allocated whilst others will be under-
allocated. Both will bring about a financial risk to the organization. Resource levelling is used when : A
critical resource may not be available for a certain duration; A critical resource may not be available at a
certain point of time: You have to share a resource with another project: The demand for a resource
exceeds the supply. Resource levelling is sometimes called Resource Constrained Scheduling (RCS). If
resources are not available, the project duration may change.

**Resource Smoothening ---- Resource smoothing is one of the project management tools used in the
resource optimization techniques. It is defined as a technique that adjusts the activities of a schedule
model so that all requirements for the resources do not go beyond the resource limits already pre-defined
during the planning, The PMBOK defines resource smoothing as, "A technique that adjusts the activities
of a schedule model such that the requirements for resources on the project do not exceed certain
predefined limits." It means we want to have a constant resource usage (resource profile) over time. The
reasons are obvious. When there are high fluctuations in demand of the resources during a project,
project cost may increase because you may have to hire them to cover the peaks in the resource profile.
Also, when there are valleys in the resource profile, resources will remain idle during those periods while
still being paid. Both situations are undesirable. Hence smoothing is needed and applied. The name
"smoothing" comes from the fact that the peaks and the valleys in the resource usage profile are
smoothed out.

**Project Resources Allocation ---- Resources are essential for the initiation as well as completion of a
project. But resources are always scarce. No depends on their judicious allocation. program to accomplish,
you need to allocate the scarce resources to your project to help in its successful completion. one has
abundant resources and therefore their judicious use becomes very important. Their judicious use Thus,
Resource allocation becomes a critical part of any project management. If you have a task, project or Every
project requires various resources such as skilled professionals (eg, creative writers, developers,
construction workers), tools (eg, software, hardware, meeting rooms), and time to get everything done.
In virtually every type of industry, effective resource allocation is key to delivering projects on time and
on budget. We define resource allocation or resource management as the scheduling of activities and the
resources required by project activities while taking into consideration both the resource availability and
the project time. The basic types of resources you might need or encounter in managing a project: o
People: People are the key to successful completion of any project. They may be writers, editors, user
experience (UX) designers, art directors, account people, traffic managers, freelance or contract
resources. developers, testers. You need people with varied skills to get your project done. Time: This is
the total amount of time (days, weeks, months, years) you require to bring your project over the finish
line. While the end date of the project may already be decided, you can divide increments of time in that
period to ensure your project stays on track. Tools and capital: Tools and capital are essential to carry out
any work. Access to specific equipment is always required to create special features or products. These
will have to be planned for during the resource allocation phase of project management and allocated
appropriately.
**The points to be considered while preparing safety programme of construction site ---- Working on a
construction site is a dangerous occupation. According to recent findings from the Bureau of Labor
Statistics, construction-related fatalities accounted for around 21.4% of all worker fatalities in 2018. easy
to see why enforcing preventative construction site safety procedures is critical. Some of the potential
hazards that construction workers face every day include: Project Management (SPPU) With nearly, 6.5
million people working at over 250, 000 construction sites across India on any given day, it's Falls from
heights o Scaffold collapse Electrocution and arc blast/flash Trench collapse Repetitive motion injuries
Failure to use the required PPE (Personal Protective Equipment) Every employer is required by law to
ensure the safety and health of their workers, regardless of the industry or their occupation. Construction
workers are particularly exposed to high-risk environments that pose dangers which need to be
addressed. If you're a construction site manager or project manager, it's your responsibility to take the
rightn safety measures to safeguard the work site from unnecessary dangers or hazards.

**Characteristics of a Good Site Layout ---- (1)Fire prevention: Fire is a major cause of damage on
construction sites. So fire extinguishers are basic requirements on a construction project. (2)Safety:
Medical services: On construction project a first aid kit is a must. In remote projects a well-equipped
medical room with a doctor and nurse is important. (3)Site Accessibility: Easy accessibility will keep the
morale of the equipment and vehicle drivers high, minimize the chance of accidents, and save time in
manoeuvring to arrive at and leave the project. (4)Information Signs and Site map : It should locate details
of the project, and displayed in the office of the site superintendent or project manager and posted at the
entrance gate. (5)Traffic regulatory signs: For large projects, traffic regulatory signs help in guiding the
traffic on the site and avoid accidents to a considerable extent. Display of labor relations' policy and safety
rules: This will help in eliminating disputes between labor and management. (6)Emergency routes and
underground services: It is important to display the emergency escape routes on every floor as the
building progresses, Locations of underground services should be marked to prevent its damage.
(7)Security at Entrance: It is necessary to have a proper guard entrance to the site provided necessary to
keep track of all visitors to the project. Lighting: It is necessary to have a standby generator to maintain
site lighting. Fencing: The boundary should be fenced off from a security point of view. (8)Water Supply
and Sanitation: It is necessary to have water and toilet facilities in convenient locations to accommodate
the work force.

**Inventory Control ---- ⚫ Inventory control an Important function under material management. It is used
to maximize a company's use of inventory. The goal of inventory control is to generate the maximum
profit from the least amount of investory Investment without intruding upon customer satisfaction levels.
Given the impact on customers and profits, inventory control is one of the chief concerns of businesses
that have large inventory Investments, such as retailers and distributors. ⚫ Inventory control, also
referred to as stock control, is so broad and incorporates so many functions that it is difficult to describe
in a limited definition. Inventory control refers to "all aspects of managing a company's inventories:
purchasing, shipping, receiving, tracking, warehousing and storage, turnover, and reordering." ⚫
Inventory control is such a critical piece of an organization's operations that it is too important to leave to
human error or a system. That's why so many companies opt to invest in inventory control systems, so
that all of the components of inventory control are managed by one integrated system. Inventory is the
stock of raw materials; semi finished and finished goods that organizations have at any point of time.
Managing Inventory is very important in a project/business as it engages a lot of money at any point of
time.