Detailed Project Report: Meaning and its contents
December 11, 2020
detailed project report DPR contents of detailed project report meaning of detailed project report
Meaning of detailed project report
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.
A detailed project report is extremely important in order to turn the idea of your project into a reality. A DPR acts as a ladder towards success to make your project reach great heights. If the project report is prepared by putting a tremendous amount of effort into details, you will surely get good results later.
- Managing the budget - Managing the budget or expenditure is not an easy task, especially when you have to look at so many aspects of your project. Hence a DPR comes to your rescue and helps your plan and manage your budget in such a manner that you do not go over your set budget.
- Minimizing risks - Sometimes, despite giving great attention to details, risks, and issues arise during the implementation of the project. Hence it is crucial to identify and reduce these risks as much as possible so that the project is implemented without any hassles. It is reporting the risks to the project manager before the implementation that makes room for improvement.
- Project progress follow up - One of the most important aspects of a detailed project report is to have a control on the project progress. Accordingly, one can keep track of the schedule of the project and eliminate the problems, if any.
- Holdover the project - Project reporting maintains hold of the higher authority, such as managers, over the project so that they can keep a check on progress and eliminate factors that cause a halt in the progress of the project. The performance of the team members and their quality of work is also checked.
A detailed project report has innumerable benefits in order to drive a project towards the path of success. Hence it is vital to get a DPR prepared from an experienced person/firm that holds relevant experience and skillset to leave no stone unturned. It is also important that the person who is a part of the team for the project has relevant expertise in the field so as to take up the task of handling the project. Putting the DPR's preparation task into the hands of an inexperienced person can also cause you to lose a lot of money, so choose wisely.