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Project appraisal Source: en.wikipedia.org/wiki/Project_appraisal

Project appraisal is the process of assessing, in a structured way, the case for proceeding with a project or proposal, or the project's viability.[1] It often involves comparing various options, using economic appraisal or some other decision analysis technique.[2][3]

To ensure success, a project should be objectively appraised during the feasibility study, taken into account principal dimensions, technical, economic, financial, and social implications. To establish the justification for a project the project appraisal is the process of judging whether the project is profitable or not to client.

Process

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  • Initial assessments
  • Define problem and long-list
  • Consult and short-list
  • Evaluate alternatives
  • Compare and select project appraisal.

Types of appraisal

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  • Technical appraisal
  • Project appraisal
  • Legal appraisal
  • Environment appraisal
  • Commercial and marketing appraisal
  • Financial/economic appraisal
  • Organizational or management appraisal
  • Economic appraisal[7]
    • Cost-effectiveness analysis
    • Scoring and weighting.

See also

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References

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  1. ^ John Filicetti (August 2007), PMO and Project Management Dictionary
  2. ^ Cost-Benefit Analysis, 2nd edition, (2001) by Boardman, Greenberg, Vining, and Weimer, ISBN 0-13-087178-8 Pearson Education, Prentice Hall.
  3. ^ Anthony E. Boardman, David H. Greenberg, Aidan R. Vining, and David L. Weimer, (1996) Cost – Benefit Analysis: Concepts and Practice, 1st Edition, by <http://www.prenhall.com/books/be_0135199689.html>.
  4. ^ Hanley, N and Spash, C (1993). Cost Benefit Analysis and the Environment. Edward Elgar. Cambridge University Press.
  5. ^ Brent, Robert J. Cost-Benefit Analbmbmbbmysis for Developing Countries. Edward Elgar Publishing. Overseas Development Administration. Appraisal of Projects in Developing Countries. A Guide for Economists. HMSO Publications.
  6. ^ Layard, Richard and Glaister, Stephen (eds) Cost-Benefit Analysis. Second edition. Cambridge.
  7. ^ Kohli, K. N (1993). Economic analysis of investment projects: a practical approach. Oxford University Press.