Project Incubation

Project incubation is the phase prior to the procedure of feasibility study and approval, which involves putting forward the tentative idea of a project, conducting pre-study and prototype tests for the project vision and technology, and conceiving the project.

Sources of Project
Projects originate from the motivations that are to satisfy the social needs. For example:
· An energy project will meet the power needs for national economic development.
· An environment protection project will satisfy the needs for city environment improvement.
· A transportation project will fulfill the traffic and transportation requirements.
· An urban innovation and expansion project will meet residential requirements.
In general, a project will fulfill the current requirements, while some projects (e.g., scientific research projects, super large scale infrastructure projects) will meet the potential and future requirements.
A project put forward by certain organization will also raise requirements from other organizations and create opportunities for the latter, which will produce a project chain. The projects are generated during the ongoing loop of social production, distribution, expenditure, and circulation. Scientific discovery and research trigger new projects by developing new ways for human to utilize the natural resources.

Project Identification
Project Identification and Opportunity Research
Project identification involves the processes required to consider, discover, and study what projects are needed for daily life, national economic and social development, national safety, and natural resources utilization and protection.
Opportunity research is the further identification of the project. It includes research and forecast of the market to determine a project and select a most appropriate chance for investment. Opportunity research by individuals or organizations is of purpose of introducing the opportunities to the investors, raising their interests, and finally seeking an investor.
3.2.2 Project Identification Entity
The project may be identified and conceived by individual or social organizations, including foreigners, foreign organizations, and international organizations, such as the World Bank (WB), Asian Development Bank (ADB), International Monetary Fund (IMF), and Unite Nations (UN).
3.2.3 Project Identification Tasks
Project identification involves both determining the project products, services, or the problems to be solved, and identifying relevant constraints. These constraints include geography, climate, natural resources, cultural environment, political policies, laws and rules, technical abilities human resources, and time constraints. In addition, in many cases, project risks need to be identified.

Project Origination and Canvassing
Project origination and canvassing is the process required to strive for finance and support from relevant organizations after project identification and conceiving. The investors, governmental agencies, enterprises, specialists, media, and other prospective project stakeholders may be canvassed.
Origination is to convince project stakeholders to confirm the necessity of the project and to invest necessary staff, material, and funds on the basis of their requirements. Canvassing is to strive for extensive supports from all aspects.
Various resources are also required during the course of origination and canvassing. Those investing resources in the process of origination and canvassing are called originators. Originators may commit individuals or an organization to perform the project origination. The written materials to make the prospective supporters understand the necessity and possibility of the project are called project origination documents. The Request for Proposal (RFP) is one form of these documents.
When the investors or the organization confirm and support the project, they would like to respond the project research and approval procedures by investing funds and resources, such as approval of carrying out a feasibility study.

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