There is no standard classification of the projects. However considering project goals, these can be classified into two broad groups, industrial and developmental. Each of these groups can be further classified considering nature of work (repetitive, non-repetitive), completion time (long term, shot term etc), cost (large, small, etc.), level of risk (high, low, no-risk), mode of operation ( build, build-operate-transfer etc).
Industrial projects also referred as commercial projects, which are undertaken to provide goods or services for meeting the growing needs of the customers and providing attractive returns to the investors/stake holders. Following the background, these projects are further grouped into two categories i.e., demand based and resource / supply based. The demand based projects are designed to satisfy the customers’ felt as well the latent needs such as complex fertilizers, agro-processing infrastructure etc. The resource/ supply based projects are those which take advantage of the available resources like land, water, agricultural produce, raw material, minerals and even human resource.
Projects triggered by successful R&D are also considered as supply based. Examples of resource based projects include food product units, metallurgical industries, oil refineries etc. Examples of projects based on human resource (skilled) availability include projects in IT sector, Clinical Research projects in bio services and others.
Development projects are undertaken to facilitate the promotion and acceleration of overall economic development. These projects act as catalysts for economic development providing a cascading effect. Development projects cover sectors like irrigation, agriculture, infrastructure health and education.
