Planning Process in India Essay

Process of planning in India takes place in three steps-formulating the plan, its implementation and the evaluation. Over the years and due to the political pressures two new aspects have been added to the process, namely decentralization and popular participation. 1) Plan Formulation The process of plan formulation takes place in a series of steps. The first step in the process of formulating the plan is for the Commission to prepare, on a rough basis, certain schemes and projects in consultation with the union ministries and state governments in the background the Perspective Plan; to determine some kind of priority; to take stock of the available resources; and to distribute these resources among the different agencies on an approximate basis. These estimates and projections are the placed before the National Development Council (NDC) and the schemes are modifies in the light of discussions. These are then sent to the various union ministries and state governments in the form of preliminary instructions. Then begins the second stage where each union ministry and state government preparing its own plan. The machinery for planning is fairly well developed at the state level. After the states and the union ministries have submitted their plans to the commission, there begins the process of dovetailing the various schemes and programmes into an integrated plan. In this task the Commission consults representatives of different groups in the Indian Parliament. At the end of these exercises the draft plan is published and thrown open for discussion. The universities, the press, political parties, chambers of commerce and industry, trade organization and other groups and individuals are free to give their comments on the draft. The next stage is the period of prolonged detailed discussion between the commission and the representatives of different state governments and the central government as a result of which the agreements as to the size and nature of state plans are reached. These tentative agreements are the placed before the cabinet and after its approval sent to the NDC and after the council’s recommendations are given the final shape. The plan is the presented to the Parliament and after its approval it is published. 2) Plan Implementation It should be noted here that the Commission is an advisory body and has no executive functions. It is only a national organ for plan formulation and a staff body to advise the cabinet. The task of implementation is left to the union ministries and state governments. It is in this field that efforts have been made to introduce the two concepts of democratic decentralization and the popular participation, particularly after the introduction of the Panchayati Raj in the country. 3) Plan Evaluation  Evaluation is the last of the three stages in the process. One of the functions of the Commission is to appraise from time to time the progress achieved in the execution of each stage of the plan and make recommendations for necessary adjustment. The Commission makes such appraisal through: 1) Monthly reports of selected projects, quarterly reviews of the working of the plan and the annual progress reports obtained from the union ministries and the state governments. 2) The advisors who visit the states within their charge and study at first had the working of the development programmes; and 3) Through the machinery of the Committee on Plan Projects. In addition, there is the Programme Evaluation Organization set up 1952. The Programme Evalution Organization (PEO) undertakes evaluation of selected programmes/schemes under implementation, as per the requirement of the various Divisions of Planning Commission and Ministries/Departments of Governments of India. The evaluation studies are designed to assess the performance, process of implementation, effectiveness of the delivery systems and impact of programmes. The Programmed Evaluation Organisation which functions as and independent unit of the Commission.

“Pride and Prejudice” offers an intensely personal story Essay

â€Å"Pride and Prejudice† offers an intensely personal story, and this story is written in light, airy, sparkling prose and is filled with witty and immensely entertaining dialogue. There are brilliantly drawn characters ranging from Elizabeth’s slightly eccentric mother to the gold-digging military officer Wickham. The two couples that I will be investigating in the following coursework are Elizabeth with Darcy and Collins with Charlotte. The two couples are both completely different in their relationships. The relationship between Elizabeth and Darcy is a peculiar one. Elizabeth first set eyes on Darcy at a public ball, and Elizabeth was not given the best if first impressions. This is because it was also the first appearance of Mr. Bingley and Elizabeth would have been comparing them both. Mr Bingley danced happily all night at every opportunity: â€Å"†¦Danced every dance, was angry that the ball closed so early†¦Ã¢â‚¬  Whereas Mr. Darcy: â€Å"†¦danced only once with Mrs. Hurst and once with Miss Bingley†¦Ã¢â‚¬  Elizabeth would be interested in a fun loving man, not some boring man that was too proud. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Or so she thought. When Mr. Bingley was in vain trying to persuade Mr. Darcy to dance with another Bennet his comment was: â€Å"†¦She is tolerable; but not handsome enough to tempt ME†¦Ã¢â‚¬  Although Mr. Darcy did not intend for Elizabeth to hear this, she did. And this brief meeting was enough to give Elizabeth a first impression, originally the novel of â€Å"Pride and Prejudice† was called â€Å"First impressions† and we can see why. So what of our second pair; were events more auspicious? Charlotte Lucas is a very close friend to Elizabeth, but even with this they have very different views on marriage and love. Elizabeth feels it is essential to have love in a marriage and she would not dream of marriage otherwise. Whereas Charlotte has a very different opinion, she thinks love is a bonus in marriage and not a necessity. She would be quite happy to marry blindly because all that she seeks in a marriage is social stability and the social status: â€Å"†¦Happiness in Marriage is entirely a matter of chance†¦Ã¢â‚¬  When Charlotte first sees Mr. Collins she is interested. She is not interested in his charming good looks, which is just as well, she is interested in his house, money and availability as a husband. Let us now consider the personalities involved in these two marriages. Elizabeth is the protagonist of the novel and the second oldest of the five sisters, she is lively, quick-witted, sharp-tongued, bold and intelligent. She is good looking, and is especially distinguished b her fine eyes. She has pride in seeing a person’s inner-self, yet this ability fails her on more than one occasion. Elizabeth is one of the few people to not be impressed by wealth or titles such as Lady Catherine De Bourgh. And what of her husband to be? Mr. Darcy is an aristocrat of great wealth. He is a proud man and conscious of class difference. Even though Darcy may be proud he still possesses honour. His pride is actually what makes him lose his pride; this is so because Darcy is very used to women falling at his feet but when he realises his adoration for Elizabeth she makes it clear that she isn’t interested. This challenges Darcy. And of our second couple? Collins is an extremely comical clergyman and adds a humorous side to the novel. His trademark is conducting very long and very silly speeches, the sole purpose of these speeches is to say what he thinks to the people around him. Another one of the purposes he has in the novel us being next in line to inherit Longbourn when Mr. Bennet dies. He thought it would help the Bennet family if he was to marry once of the daughters, but when this is refused he turns his affections to Charlotte Lucas. Charlotte is one of Elizabeth’s closest friends, but in the novel her main function is to act as a contrast to Elizabeth. She has little opportunity to find a husband whom she really loves so she settles for the social status and security a man like Mr. Collins can offer. What of the proposals towards Elizabeth? As I have previously stated, Darcy expects women to fall at his feet simply because he is used to it. But when I examine the relationship between Elizabeth and Darcy I see that Elizabeth had a deep hatred for Mr. Darcy. Although this is mainly due to the wrongful accusations imposed by Mr. Wickham, she thinks him to be a proud, cruel, insensitive and devious man. In reality Mr. Darcy is proud by mostly he is shy. Mr Darcy thinks he is successfully attracting Elizabeth, and the she knows it. When actually Elizabeth has no idea of this until Charlotte points it out: â€Å"†¦My dear Eliza he must be in love with you or he would never have called in on us in such a familiar way†¦Ã¢â‚¬  When the first proposal is made to Elizabeth she is absolutely outraged at how this man could think her to love him: â€Å"†¦you were the last man on the earth whom I could every be prevailed on to marry†¦Ã¢â‚¬  At this refusal Mr. Darcy was deeply hurt and left the room. We are not told the exact words of Darcy’s second proposal because firstly there is no need, and secondly Jane Austen chooses to leave the proposal to our imaginations. Elizabeth accepts this proposal because by that time she and Mr. Darcy are truly in love. And of the proposal towards Charlotte? Mr Collins only wants to marry because Lady Catherine advised him to, and he is not at all interested in love: â€Å"†¦make him the happiest of men†¦Ã¢â‚¬  The proposal was nothing at all towards the proposal of romance. This proposal was actually more of a practicality, something that had to be done before they could both do what they both intended to do; Charlotte wanted to find comfort in her children whereas Collins wanted to please lady Catherine. From looking at both relationships; Elizabeth with Darcy and Charlotte with Collins, I conclude that both couples are happy. Elizabeth and Darcy are happy because they both found their true loves and Elizabeth has the bonus of a husband of wealth and in ownership of a tasteful home. Collins and Charlotte are happy because Collins get to please Lady Catherine (which is all he seems to want to do) and Charlotte is happy because she was reaching quite a high age for unmarried status. The future is concerned is guesswork, but educated guesswork. And my educated guesses are that Elizabeth are and will always be truly happy as long as they have one another. Collins and Charlotte will also be happy in the future because; Collins never put any real commitment into marriage so has nothing to lose, and Charlotte will find comfort in her children. Jane Austen was very successful at putting her views across; she made her opinions obvious when she wanted to (which was not very often) and all of her opinions are justified by my standards and I think many others would agree.

Littlefield Simulation Essay

Littlefield Technologies (LT) is a producer of newly developed Digital Satellite System (DSS) receivers. One contingency LT relies heavily on is their promise to ship a receiver with 24 hours of receiving the order. If they are late to this, the customer will receive a rebate based on the delay. As the simulation ran for 268 days there were various methods and decisions we made in the process. We knew in the initial months, demand was expected to grow at a linear rate, with stabilization in about five months (~180 days). After this, demand was said to be declined at a linear rate (remaining 88 days). Even with random orders here and there, demand followed the trends that were given. Future demand for forecast was based on the information given. We looked at the first 50 days of raw data and made a linear regression with assumed values. Those values were calculated using a moving average model. Below is a plot of the data over the 268-day period, which shows the patterns stated above. The main concern for LT management was the capacity in order to respond to the demand. If there was insufficient capacity LT would not be able to fulfill given lead times and would have to turn away orders. In order for capacity to be maximized, our group would ideally have had to have machines run at maximum utilization. Looking at the first 50 days of data we were able to see where more machines were needed in order to produce that 24-hour turnaround time. The original setup included one board stuffing machine (station 1), one tester (station 2) and one tuning machine (station 3). The way testing was scheduled was First-In-First-Out (FIFO). In our simulation, we were able to control the amount of machines and the way testing was scheduled in order to maximize the factory’s overall cash position. Below is a graph showing the utilization of the machines at station 1. Based on graph we were instantly able to see that at station 1 there was a massive bottleneck because utilization was over 100%. This made us decide to purchase an additional 3 machines to help reduce that. As shown, utilization was brought down and become helpful during the five-month demand hike. The mistake our group made was not selling off the machines when we noticed that the demand dropped. It is evident that during the last 88 days, the machines at station 1 were heavily underutilized. The purchasing decision was based off assumptions. We knew that demand would rise for another 130 days (since the simulation already ran for 50 days), so we decided to buy at day 51. We added three machines to station 1 and one machine to stations 2 and 3. Another key thing we changed instantly was the queue sequencing. We sold a total of one machine from station 1. The decision was based upon our demand. We saw demand decrease dramatically, which led to us selling the machine. Although it was made late, and we should have sold two machines from station 1 at day 180, we were keeping one in case demand suddenly changed. With these changes and decisions, our team (team 8) was able to be very successful. We presented growth within our company and increased capacity by adding and subtracting machines and changing the queue sequencing. We ended with more capital than we began with and finished third overall in the standings, as shown below.

Sustainable approaches to animal behaviour and welfare research Essay

Sustainable approaches to animal behaviour and welfare research - Essay Example iotic relationship since time immemorial, the other side of the coin that animal too have feelings and superior intelligence have just started dawning on humankind. The nineteenth and the twentieth century saw animals being treated as commodities and exploited without remorse as beasts of burden, as a source of food and entertainment for man, and for biological research in order to search for the secrets of life and cures for debilitating diseases. Voices started being raised for animal welfare during the latter half of the twentieth century when people from some sections of society observed the cruelty being meted out to the poor creatures. Soon, volunteer and social organizations for animal welfare cropped up in all parts of the world and research activities were directed towards the investigation and formulation of better animal welfare policies and initiation of endeavours to stop cruelty on animals started being conceived. Animal welfare science has developed over the last few years as a specialist entity and has come to be recognised as an interdisciplinary effort (Lund et al, 2006). However, the authors feel that it has till now bean the mainstay of representatives of natural sciences only and needs to adopt a broader interdisciplinary perspective to increase its horizon of activity (Lund et al, 2006). The concerns for animal welfare are being addressed internationally by organizations such as the OIE (Office Internatio nal des Epizooties) which provides the international trade agreements for animal welfare and the control of diseases in domesticated farm animals (Lund et al, 2006). The authors feel that the time has arrived when the discipline of animal welfare should encompass a broader horizon by making it a trans-disciplinary subject, as so far it has stayed within the confines of natural sciences only. Animal psychology, ethics, politics and economics too need to be brought into the perspective of animal welfare science according to the authors (Lund et

Ozone issue Research Paper Example | Topics and Well Written Essays - 1250 words

Ozone issue - Research Paper Example The depletion of the ozone layer is changing the pattern of life and survival on earth. There have been changes in the atmospheric condition due to the loss of ozone on a large scale and hence causing catastrophic disasters as well. ‘A second catastrophic view of the effect of ozone loss depended on the resultant increase in the UV radiation reaching the earth’s surface.’ (Parson, 2003, p.24) The existence of ozone is essential for shielding the earth’s surface from high energy UV rays for the living beings to survive on earth as well as under the ocean. In the 1960’s Berkner and Marshall based their observations too on this fact that during some ancient times the earth’s shift to an oxygen atmosphere forming an ozone layer thick enough to screen surface UV was necessary to let life on earth including that under ocean survive (Parson, 2003, p.24) It is evident that the existence of ozone would to a large extent determine life as well as affect the ecosystem in various ways sometimes even leading to serious diseases like skin cancer. If one follows the proverb, â€Å"Prevention is better than cure†, then he can realize the true significance of the existence of ozone layer and how it is good or bad for life on earth. In the earlier paragraph, a very serious threat which might be caused due to lack of sufficient ozone has been unmasked. In other words, as ozone prevents the harmful UV rays from bringing unwanted effects on life on the earth, it can be understood as to what might lead to a disease like skin cancer –â€Å"Ozone depletion means more UV from the sun gets to the ground, leading to more cases of skin cancer, cataracts, and other health problems† (Tabin, 2008, p.143). Besides, ozone protects the earth’s surface by absorbing the harmful UV rays emitting from the sun thereby facilitating life on the planet. If looked from a very far distant location, the earth actually looks like a beauti ful blue sphere, which accounts due to the greenery surrounding the earth, and the vegetation as well as forests which again are seats of the vibrant flowers and eventually indebted to the existence of ozone layer. (Tabin, 2008, p.39) Investigating into the factors causing reduction in ozone, it would be paradoxical to state that human beings play the role of disturbing the ozone layer by unknowingly emitting chemicals that bring unwanted changes in the layer thereby disrupting the delicate balance established by nature. (Tabin, 2008, p.40) During winter, the polar night zone or the zone in South Pole where a stream of air swirls, receives little or no light from the sun, which allows nitric acid and water to form ice crystal’s clouds called polar stratospheric clouds. Apart from this, â€Å"chlorine and bromine containing chemicals can lead to a significant depletion of stratospheric ozone† (Sinha, 1998, p.8). Chlorine gas is produced in the ozone layer as a result of the chemical reaction of the surfaces of the ice crystals, which begins to accumulate in winter releasing chlorine atoms during spring with the sunshine, finally reducing the amount of ozone, which again creates the ozone hole. J. Hampson also performed several experiments, and found out hydrogen compounds produced from water vapor are capable of destroying ozone on a rapid basis. However, the deadliest ‘enemy’ to attack ozone layer seems to be the invention of chlorofluorocarbons

Observational Method in Psychological Research Essay

Observational Method in Psychological Research - Essay Example One of the characteristic of the observational method of research is that its environment is generally authentic. Even the situation that is studied is subjected to a realistic circumstance that actually generates genuine responses. This characteristic is essential in psychological studies such that the human mind is too complex wherein extensive and intensive observation and monitoring of its activity must be recorded and analysed according to the behaviours observed from the subject of the study. Since the behaviours of the subject of study are natural responses to the actual situations that serve as the one of the factors and conditions being studied. Observational methods enable researchers and practitioners to identify behavioural patterns within the naturalistic contexts at the time during which they actually occur, and, thus, the social validity of these systems is often a strength. (qtd in Lakin, 2005) There are several ways in which observational method in psychological research is delivered. These different approaches in observational method are the participant observation, non-participant observation, structured observation, unstructured observation and naturalistic observation. The observed data gathered through the observation of the various behaviours from each of these approaches involve planned gathering, analysis, and interpretation. As much as the approaches differ from each other, it cannot be avoided that each of the approaches may have an advantage over the others. ("Observational") Depending on the problem of the study and the whole idea of the research, an appropriate observational approach may be identified according to the strengths and weaknesses of each approach. These observational techniques are classified according to the intervention of the observer on the research being conducted. ("Introduction") Naturalistic observation approach is deemed as the most reliable method in studies that involve an observation of specific subjects. ("Observational") The observer in this approach does not intervene in any aspect within the duration of the study. Significantly, the participants involved in the study with whom the behaviours are being observed, do not have an idea that each of their reactions and actions are observed. For all intents and purposes, the researcher is invisible and works hard not to interrupt the natural dynamics of the situation being investigated. ("Introduction") Due to an uninterrupted situation, the participants of the study behave naturally and spontaneously because of the non-intervention and the natural flow of the situation. The researcher becomes more privileged of observing specific behaviours of the participants according to a predetermined set of criteria. For a research study when there is a very limited concept of the research is identified and known by the researcher, this method may also be applicable. The researcher may be able to develop a hypothesis upon observation of the natural situation or event being studied or observed. ("Introduction") However, since the observer or the researcher does not have any control on the situation being studied, he is limited in drawing meaningful conclusions about the causes of a particular behaviour that the subject has exhibited. ("Introduction") Moreover, one of the strongest issues that face naturalistic observation is ethics. Since the participants of the study are not told of the study being conducted, this becomes a violation of

Investment and Fund Management Essay Example | Topics and Well Written Essays - 2500 words

Investment and Fund Management - Essay Example The current difficulty that the members of Fortunes are facing now is regarding the portfolio of pension provision. According to the current provisions, the members will be paid lump sum based upon individual contributions. But a careful analysis of the pension fund portfolio reveals that it was built up in an undisciplined manner. Hence, the current portfolio is considered inappropriate since the global markets are facing downturns. The objective of the study is to carefully analyse the current portfolio and recommend suitable adjustments so that Fortunes Inc. can meets its pension provision in the coming years. Analysis of Current Portfolio Tottenham Hotspur Fortunes Inc. has bought 2000 ordinary shares of Tottenham Hotspur plc which was founded in 1882 and it owns Tottenham Hotspur FC. It falls under entertainment sector. The total revenue of the company at the end of 2011 was ?261.90 million. The company has experienced a growth rate of over 45% during one year. BAE Systems BAE s ystems plc is multinational British defence aerospace and Security Company. It is the world’s largest defence contractor and third biggest in terms of revenue. It falls under aviation sector. The total revenue at the end of 2012 was ?17.84 billion with net profit over ?1billion. Tesco Tesco plc is a multinational British general merchandise and grocery retailer and is the third largest retailer in the world. It falls under consumer goods sector. The total revenue of the company for the year ending 2012 was over ?65.5 billion with net profit over ?3.9 billion. Whitbread Whitbread plc operates in hotels and restaurant business. As of 2012, the company has over 619 hotels and over 385 restaurants. The total revenue of the company for the year ending 2012 was GBP 1.9 billion with a net profit of GBP 281 million. Barclays Bank Barclays plc is a leading banking and financial services providing multinational company which is headquartered in London, UK. It is public limited company and is traded as BARC on the London Stock Exchange (LSE). It falls under banking and financial services sector. For the year ending 2012, the company reported total revenue over ?24 billion with bottom line about ?235 million. The company specialises in Investment banking, corporate banking and Wealth banking. Helical Bar Helical Bar plc is a holding company operating in property investments and development. It falls under the realty sector. The company leases or owns land and properties for the purpose of trading and selling. The company booked profits of over GBP 7.65 million from a total revenue over 65.85 million. Cable and Wireless Communication It is a global telecom service provider that offers broadband, mobile, television, and fixed lines to customers. It falls under the entertainment sector. In October 2011 the company has sold its 50% interest to Mauritius based Telecom Company known as Vanuatu ltd. In the year 2012, it sold 49% stake to Fiji and formed an amalgamated ent ity known as Fintel. In April 2013, it announced the sale of majority stake to Monaco & Islands division. For the year ending 2012, the company suffered a net loss of GBP 55.49 million. Flybe Group It is UK based domestic airline company and it falls under aviation sector. As on 2012, the company reported to own 19 aircrafts but it suffered a net loss of GBP 22.30 million. Lazard UK Alpha Retail Inc Fund The fund does not charge any initial fee currently

International Bond and Currency Markets Essay Example | Topics and Well Written Essays - 2000 words

International Bond and Currency Markets - Essay Example In precise, it also helps in pre-determining the fluctuation of the currency appreciation or depreciation in respect to countries and influenced cross border trade prospects by a substantial extent. It is noteworthy that the volatility of exchange rate, in the short run and also in the long run depends on multiple factors such as the demand and supply prospects in the financial market. Arguably, forecasting in the long run and short run is considered as quite difficult, which can be explained with reference to the Theory of Speculation in the market and the collective belief of the investors about the future prospects (Andreou & Zombanakis, 2006). Based on these underpinnings about the importance of forecasting exchange rate fluctuations, this essay will aim at emphasising the challenges commonly witnessed by analysts when obtaining the intended forecasting results in the short run as well as in the long run performance of the exchange rate. Challenges in Forecasting Exchange Rate in Short Run Arguably, in the short run, the forecasting of exchange rate is nearly impossible. Forecasts, which are delivered by the macroeconomic factors, are generally less accurate than the results obtained through Random Walk theory application. In general, the Random Walk Theory presumes that market changes, in terms of stock-prices changes, are unpredictable. Even though in the long run forecasting, the theory has been considered by many financial investors and analysts, the short run implications of Random Walk theory remains under considerable scrutiny. It is in this context that no claims to substantiate a perfect Random Walk model in the short-run stock price fluctuation were firmly made. On the contrary, arguments centralised on the theory that forecasting stock-prices changes in the short run is challenging owing to the fact that in the short run, the volatility of the exchange rate is less but the speed of convergence based on Purchasing Power Parity (PPP) is slower than that recorded in the long run (Babazadeh & Farrokhnejad, 2012). Correspondingly, it has been argued that the level of exchange rate in the short run is not very predictable, but is also not entirely unpredictable, as the volatility of the currency and the correlation between them vary with time and hence, forecasting becomes challenging (Mitra, 2008). The current account balances, real income of the people, interest rates, the preferences of the consumers regarding the domestic or foreign products, are all signified as market fundamentals influence the stock-prices in the short run, as per the conceptual framework of PPP. As explained by Taylor & Taylor (2004: 135), â€Å"PPP is a disarmingly simple theory that holds that the nominal exchange rate between two currencies should be equal to the ratio of aggregate price levels between the two countries, so that a unit of currency of one country will have the same purchasing power in a foreign country†. Subsequently, it is the m onetary policies, the fiscal policies and the market speculations affect the forecasting decisions in the short run. These factors are important when considering the financial transfers with regards to the

Theoretical Perspective Research Paper Example | Topics and Well Written Essays - 1000 words

Theoretical Perspective - Research Paper Example Project managers usually use emails and video conferencing techniques for a two way communication with his team members. Apart from this, special 3D and 2D satellite images are used by project managers for detecting the areas of oil spills and the working condition of the pumps. The manager then schedules the maintenance plan for the same. The oil and gas field can also be detected under the sea or on ground through 3D images of Stereo satellites. The companies are injecting the most advanced technologies to increase the efficiency of the workforce and also maximize the profit. Increasing use of these VPM tools is also helping the industry to decrease their operating expenses and this might also affect the price of oil and gases in the global market in future. Table of Contents Virtual Project Management 4 Virtual Project Management (VPM) Tools 4 VPM Tools in Oil Producing Environment 5 Current and Future Abilities for Project Implementation 6 Effect of New Technology on Projects and Members round the World 7 References 8 Virtual Project Management We often see that, the project teams are generally dispersed in many different locations of the world. The projects in MNCs are generally given to team, in which the members might be working from different parts of the world. Sometimes a single project is carried out by different companies. The geographically dispersed work or project is often called virtual projects. Virtual projects are called so because most of the communication regarding the project is done through email, video conferencing, telephone or using other forms of technology. The long distance communication methods and techniques are no longer expensive or prohibited. It helps the project managers to communicate with his project team frequently and openly (Mantel, Meredith, & Shafer, 2006, p. 56). Virtual Project Management (VPM) Tools In Virtual Management, the whole team is mainly depended upon the technological aspects. As such most of the work and decision making functions are undertaken through web-based technology such as internet. The tools that are used in virtual project management need to fit in the teams from all round the world. The main function that any VPM tool should have, is to allow the project team members to communicate with one another efficiently, as all the team member are in separate locations. Moreover, they might not have knowledge of each other's prior work experiences. In this case communication becomes the only key for discussing and formulating plans regarding the project. Secondly, the tools should also allow the team members to collaborate in the virtual space. The tools should also help the project manager to manage the project functions, schedule the resources and also track the progress of the tasks. The VPM tools are usually web based applications, which are used to create schedules and assign tasks. The resources and activities of team members are monitored and important documents are also exc hanged through these tools. VPM Tools in Oil Producing Environment Virtual project management tools are very useful in the field of natural resources such as minerals, oil and gas. Since, these natural resources are usually found in remote areas, so technological tools play a very important role in detecting and planning out the projects. In such cases, satellite, and airborne remote sensing technology is often used to select the oil and gas