INTRODUCTION

4 F PRINCIPLE OF PROJECT MANAGEMENT 

The symbol of this principle is given below, including numerical ‘4’ & four times ‘F’ as well.

 

4F principle can be used for the effective management & implementation of any kind of project, whether it is a profitable one or non-profit initiative, it can be of technical nature or non-technical as well.

The 4F stands for

F:         Framework/Fundamental

F:         Feasibility

F:         Forecast/Future aspect

F:         Funds

Now we will learn how this 4F principle can be utilized to get expected results from a project by keeping in view all the four aspects equally.

This principle put major stress on ‘Optimum Utilization of Resources’ & ‘Transparent Vision’.

The Project manager/Director should keep in view all the following ‘F’s before actual implementation of the project. It is advised to Project Manager/Directors that in lack of ‘Transparent Vision’ & absence of any of 4F`s in the project, the strategy should be reconsidered before investing capital/funds on the same project.

Let`s understand the F`s & their measurements: