DIFFERENCE BETWEEN A FUNCTIONAL MANAGER AND A PROJECT MANAGER

FUNCTIONAL MANAGER

1. He is in-charge of a firm’s functional depts. Such as marketing, engg., or finance. 2. They are more skilled at analysis. Such heads are specialists in certain areas only. 3. They are analytical in approach (breaking the system into smaller and smaller elements) and they know something abt. the operation for which they are responsible. 4. In case of any difficulty, they know how to analyze and attack it. 5. They are administratively responsible for deciding how something will be done, who is going to do it, and what resources will be devoted to accomplish a task. 6. He is a direct, technical supervisor. 7. He should have knowledge in the technology of the process being managed. 8. The FM cannot allow the PM in taking control of the technical decisions in the functional areas or to control the assignment of the functional area personnel.

PROJECT MANAGER 1. A PM starts his career as a specialist in some field, later on being promoted to some higher post. 2. He is required to be more skilled at synthesis. 3. The PM uses a system approach i.e. understanding the organizational problem, for which the project is a part, the organization for which the program exists, as well as the environment of the organization. 4. The PM is a facilitator and generalist. 5. He should be competent in the science of project along with having the technical competence in some aspects. 6. He is responsible for organizing, planning, budgeting, directing, planning, and controlling the project.
Economic Analysis:

1) Economic analysis is also referred to as social cost benefit analysis. 2) It is concerned with judging the project from a large social point of view. 3) The focus is on the social costs and benefits of a