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how to manage the sick projects?

Created by : mahendra kumar, Design Engineer, mecon  | 03 17 2010 16:33:01 +0000
Industry : far all projectsFunctional Area : for all(Others)
Keywords : for national importance
Activity:  302 views;  last activity : 10 20 2011 02:36:18 +0000
 
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close the sick projects Vs revive the sick projects
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An organization unable to pay (1) its employees (2) its creditors (3) meet its financial obligations is considered a sick unit.
By Suryanarayan Murthy, Asst Vice President (Corporate Finance), A Hydro Power Project  10 18 2011 04:25:51 +0000
 
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It is very important for us to revive sick units. However, due diligence should be given to decide if the unit can be revived. And the task should be left to professionals.

In the name of worker enhancement lot of units have closed down, after prolonged strikes. The final sufferers are the laborers and lower level staff. Thus even the working class should not allow mere opportunists to hijack their demand for justice, an in the end it affects them much more than the owners or the higher hierarchy management.
By Vinoy Scaria James, Consultant, Travel Hub  10 18 2011 14:27:53 +0000
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Mahendra can you tell me more about what a sick project is. I am not clear of the meaning. It would be great if you elaborate it with a description, so that others will also understand and the discussion would be more interesting. 

 
By Ajay Kashyap, Project Manager, Polaris Software  | 03 18 2010 11:23:24 +0000
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Consistent inability to perform leads to sickness. This sickness stems from many facets - the major one being the fund flow as planned, and other factors could be the gap in demand and supply, or the stakeholders lost their passion mid-way seeking alternatives without providing immunity to the existing operation or banks declaring NPA. The best solution would be to dilute the stake, seek fresh stake-holding by larger houses in the analogous business without disturbing the existing structure, only by changing the top leadership. There could be a number of ways the situation can be reversed, but entirely dependent upon the circumstances!
By S. Muralidharan, Executive Director, Knowledge Foundation & Campus Around the Corner  | 10 20 2011 02:36:17 +0000
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Its only the diagnosis of sickness that matters...and not the sickness....and most important it does not repeat.....nothing profitable than this,,,,I personally think..
By ujjval jain, Retail, Retail  | 10 18 2011 19:16:59 +0000
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Any project's sickness revolves around marketing, technology and finance. It will be easy to revive the project if the lopholes in the above areas are plugged.
By Suryanarayan Murthy, Asst Vice President (Corporate Finance), A Hydro Power Project  | 10 18 2011 08:22:52 +0000
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The challenge lies in reviving the sick project for a dynamic entrepreneur. But, this should not leave him blind. Before taking a decision to revive the project, he/she address the core problem for the sickness of the project. Why it become a loss making project? etc. have to be addressed. If it is a internal problem, a feasible solution has to be find. If it is problem availability of raw material, alternatives have to be screened, cost factors also have to be seen. If the project is being run on a redundant technology that has to be addressed by acquisition of new technology, who are their customers, what are their interests have to be assessed and feasibility of shaping the project to meet the requirements of its customers have to be assessed. As Mr. Shailesh rightly pointed out closing a project makes a big loss. Keeping in view this and after assessing every aspect a decision is required to be taken to revive the sick project. The ultimate aim of an organisation is to make profits. Profits may not accrue in the short term, long term possibilities have to be assessed. If the project fails to assure this aspect, it is better to close down.
By Srinivas suravajhala, Asst. Manager.  | 10 18 2011 07:30:32 +0000
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Closing of the project will lead in huge loss in terms of fixed assets and it will also adversely affect the goodwill of the company. Review of the sick units will be a better option to sustain and gain profits. Here the research and development department will need to review the situation and reveal the points with which they were lacking behind. Eradication of these weaknesses and reinforcing of those points which will be beneficial willl lead to profit maximisation. However the company needs to bring innovation on the products or services of that company. If the product is in decline stage, alteration in the product will restart the licycle of that product.
By shailesh , B.B.A student, kumaun university, ssj campus almora  | 10 05 2010 01:18:34 +0000
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hey if u have any projects .. which is going to be a sick... then say i will suggest some strategy to make it on track....
By Akash khatri, Sr. Engineer -Tata Bluescope steel Ltd.  | 10 04 2010 18:39:44 +0000
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What do you mean by sick project...what is the yardstick used to categorise a project as sick.
By Percy Doctor, Management Consultant  | 05 12 2010 13:15:43 +0000
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I would suggest to revive the sick projects. It is all about the process and approach defined/ followed makes a project sick or strong. Cleaning up the process would definitely give life to the project.
By VIJAISENTHIL, P. K., Project Manager, Infosys Technologies  | 05 12 2010 09:38:58 +0000
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We can revive the sick projects as the main reason of project to become sick is the system attached to it.
By mahendra kumar, Design Engineer, mecon  | 03 17 2010 16:33:01 +0000
Argue for "close the sick projects"
Argue for "revive the sick projects"
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