Project managemnt assignment(rahol rai 09 2613)
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Rahool Rai is developing a project management plan for their final year project investigating the success factors behind the growth of Islamic banking in Pakistan. The project will collect data through surveys distributed to 100-200 business students and investors. It will analyze secondary research and determine the impact of government policies on the growth of Islamic finance. The goal is to educate the public on Islamic banking and provide recommendations to further encourage its development in Pakistan.
Project managemnt assignment(rahol rai 09 2613)
- 1. PROJECT MANAGEMENT Class Activity Develop a Project Management Plan of your Final Year Project (FYP) Submitted by: RAHOOL RAI (09-2613) Submitted to: Mr. HASEEB SHAUKAT 1
- 2. MEMORANDUM OF TRANSMITTAL: To: Mr. HASEEB SHAUKAT Date: December 05, 2012 From: Rahool Rai (09-2613) Subject: PROJECT MANAGEMENT All praises and thanks are for Almighty Allah Who is the source of all knowledge and wisdom endowed to mankind and to the humanity as a whole. Behind every project is a vision and in order to complete a successful project we must have a determination to complete that vision. We would like to say the words of appreciation to our course instructor for motivating us for going towards that vision and his abilities to turn that vision into reality. My special thanks to all those who assisted me in my project throughout the semester. Above all we would like to thank our parents and friends for their guidance and patience throughout the development and completion of this report. Finally, we would particularly like to thank you and Mr. Michael Simon for many guidelines provided to us throughout the project and helping us to complete this report. 2
- 3. Contents Initiation ........................................................................................................................................................ 5 Introduction: ............................................................................................................................................. 5 Reason to choose this topic: ..................................................................................................................... 5 Motivational element: .............................................................................................................................. 5 Project charter .......................................................................................................................................... 6 Research overview: ............................................................................................................................... 6 Problem Statement: .................................................................................................................................. 6 Research Description: ............................................................................................................................... 6 Research Scope ......................................................................................................................................... 6 Factors that will make research successful are follwing ........................................................................... 6 Expected Result from Research: ............................................................................................................... 7 Limitations ................................................................................................................................................ 7 Planning: ....................................................................................................................................................... 7 Execution: ..................................................................................................................................................... 7 Data collection .......................................................................................................................................... 7 Research design ........................................................................................................................................ 7 Secondary data techniques....................................................................................................................... 7 Target population: .................................................................................................................................... 8 Sampling:................................................................................................................................................... 8 Sampling farm work: ................................................................................................................................. 8 4. Monitoring & Controlling: ......................................................................................................................... 8 Project Integration Management ............................................................................................................. 8 Scope Management: ................................................................................................................................. 8 Time Management:................................................................................................................................... 8 Cost Management:.................................................................................................................................... 9 Quality Management: ............................................................................................................................... 9 Risk Management: .................................................................................................................................... 9 3
- 4. Closing: .......................................................................................................................................................... 9 Presentation:............................................................................................................................................. 9 Stakeholder’s satisfaction: ........................................................................................................................ 9 4
- 5. Initiation Topic: An investigation into the success factors behind the Growth of Islamic banking in Pakistan. Introduction: Islamic Banking is one of the emerging field in global financial market, having incredible potential and growing at a very fast pace all around the world. The foundation of Islamic bank is based on the Islamic faith and must stay within the limits of Islamic Law or the Shariah in all of its actions and deeds. The few governing principles of an Islamic bank are following: 1. The absence of interest-based (riba) transactions. 2. The avoidance of economic activities involving oppression (zulm). 3. The introduction of an Islamic tax, zakat. Reason to choose this topic: Basically I choose this topic for my final year project (fyp), because of my interest in field of finance and banking sector. Through this research I want to explore the factors behind the rapid growth of this sector in Pakistan. According to my perception this topic need to be explored more.so that is the reason I choose this topic to doing research. Motivational element: The motivational element for me for doing this research are my own interest in banking sector and main thing, which motivated me is the interest free banking phenomenon. 5
- 6. Project charter Research overview: In this section, key concept of the study, namely Islamic finance, musharakah, mudarabah, capitalism, government policies and public awareness about Islamic finance and Islamic banking will briefly explored. In this study, I am also going to find out that how government policies can effect or support the Islamic financing and banking. Problem Statement: Is to determine the factor behind the Growth and Performance of Islamic finance and banking in Pakistan. To determine problems and issues facing by Islamic finance in Pakistan. Research Description: This research will make recommendation that will encourage Islamic financing in Pakistan and to make recommendation that will encourage Islamic financing in Pakistan. Research Scope: This research will help in creating public awareness to get into the knowledge of positive and negative aspects of Islamic banking, factors behind success, growth rate, performance and governmental policies. Factors that will make research successful are follwing: Studying the previous research paper done by other researchers on this topic, which give me an understanding of what has been done before and what kind of elements they used and finally what result they got from research. Recognizing the variables and hypothesis that will help me in making my topic approved. 6
- 7. Expected Result from Research: My research will be helpful for society to know positive and negative factor behind successful journey of Islamic banking and this research will help investors to invest their money in Islamic way. I am expecting that the respondents will be giving their feedback in the most correct manner. Limitations This research will only conducted from business students, the investors and business man, who really want know the hidden facts and figures behind success. Planning: Since this is descriptive study, the survey and secondary data method will be used to collect the needed information through randomly distributed the questionnaires. This investigation is to make financing in Islamic way in Pakistan and to make recommendation that will encourage Islamic financing and banking in Pakistan. Execution: Data collection Since this is descriptive study, the survey and secondary data method will be used to collect the needed information through randomly distributed the questionnaires. Research design A research plan specifying the methods and procedures for collecting and analyzing the needed information. it is a frame work or blueprint that plan the action for the research project. The objective of this study determined during the early stages of the research are include in the design to ensure that the information collected is appropriate for solving the problems. The researcher must also specify the sources of information the researcher method or techniques (survey or experiments) the sampling methodology and the schedule and the research. Secondary data techniques: Data sources will be utilized to find theoretical information for expels books published journals and articles the internet as revealed in the literature review. 7
- 8. Target population: For this study the target are investors and business students. Sampling: I will distribute about 100 questionnaires A sample is a subset or some part of a larger population. The purpose of sampling is to enables researcher to estimate some unknown characteristics of population. Sampling farm work: Sampling frame work is a list of element from which the sample may be drawn for this study the sampling frame work would be 100-200 investors. 4. Monitoring & Controlling: Project Integration Management: Step 1: collecting base documents, research papers and reading and understanding the papers and finalizing the topic Step 2: Presenting Topic proposal Step 3: topic approval Step 4: temporary presentation in front of university faculty Step 5: making report on approved topic Step 6: collecting data through data collection techniques Step 7: summarizing and coding the data though software Step 8: applying the reliability tests Step 9: getting the result Step10: presentation of whole research and oral viva in front of faculty and external members Scope Management: This research will help in creating public awareness to get into the knowledge of positive and negative aspects of Islamic finance, growth rate, performance and governmental policies. Time Management: 8
- 9. Although there is no enough time for doing the research in a proper and in extended manner, but I will manage my time in following manner: I will distribute about 200 questionnaires in only one city like Karachi to the specific and randomly selected people such like business students and investors. All above steps will be happen in specified time and date within the period of 4mouths. Cost Management: The cost occurs in doing research in limited, because I am doing this research on my own bases, I am not even sponsored by any one so, this is a low budget research. Quality Management: When we talk about the quality of this research so, this research is based upon the responses, which I will get from the randomly selected people and on the reliability tests, which I will use in my research. Risk Management: The risk factors involved in this research are following: getting the negative results or not applicable results and changing of variables and hypothesis on mean time. Closing: Presentation: The final presentation of whole research will be held in specified date and time arranged by university. Stakeholder’s satisfaction: To make recommendation that will encourage Islamic financing in Pakistan and This investigation is to make financing in Islam way in Pakistan. 9