Jharkhand News: NHPC executives get tips on how to manage working capital in power projects at IIT (ISM) Dhanbad
SUBHASH MISHRA Dhanbad, Aug 28: A three-day training programme for NHPC executives on working capital management in power projects commenced today…
NHPC executive with IIT ISM faculty members
SUBHASH MISHRA
Dhanbad, Aug 28: A three-day training programme for NHPC executives on working capital management in power projects commenced today at IIT (ISM) Dhanbad. The session, organised by the Department of Management Studies & Industrial Engineering (DMS&IE), aims to enhance the financial management skills of 20 NHPC executives at the E6 to E8 management levels.
Professor Sukumar Mishra, Director of IIT (ISM), inaugurated the training programme. In his address, Director Mishra emphasized the crucial role of industry in project execution.
He said that industry plays a vital role in the execution of a project and any academician needs the support of industry because a product developed in ideal conditions may not be able to sustain at ground stage.”
He highlighted the necessity of assessing a product’s viability in real-world conditions to ensure its sustainability.
“So there is a need to assess a product in an industry or ground situation to find out whether it is sustainable or not,” he said.
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Focus on financial sustainability
Director Mishra also stressed the importance of financial sustainability in project management. He said that when a product even passes through the test of ground condition or industry but looks not financially viable, then comes the role of management to make it viable by carrying out market analysis or financial analysis and whatever intervention is required.
He emphasized that the training program will focus on the financial aspects crucial for the sustainability of projects.
Professor J.K. Pattanayak from the Department of Management Studies & Engineering spoke about the benefits of exchanging ideas between trainees and trainers, which he believes will enhance overall knowledge. Professor Sandeep Mondal provided insights into various academic programs and courses offered by the Department of Management Studies and Industrial Engineering of IIT (ISM).
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Significance of working capital management
Professor Rashmi Singh, one of the coordinators of the training programme, highlighted the significance of effective working capital management in the hydroelectric power sector.
She said that the productive efficiency of the hydroelectric power sector can only be enhanced by such capacity-building programs for executives working in the sector.
Professor Niladri Das, the other coordinator, proposed the vote of thanks and detailed previous training programs conducted for HPCL Limited.
