Project appraisal
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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
[edit | edit source]- Initial assessments
- Define problem and long-list
- Consult and short-list
- Evaluate alternatives
- Compare and select project appraisal.
Types of appraisal
[edit | edit source]- 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
[edit | edit source]References
[edit | edit source]- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Cost-Benefit Analysis, 2nd edition, (2001) by Boardman, Greenberg, Vining, and Weimer, Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value). Pearson Education, Prentice Hall.
- ^ 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>.
- ^ Hanley, N and Spash, C (1993). Cost Benefit Analysis and the Environment. Edward Elgar. Cambridge University Press.
- ^ 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.
- ^ Layard, Richard and Glaister, Stephen (eds) Cost-Benefit Analysis. Second edition. Cambridge.
- ^ Kohli, K. N (1993). Economic analysis of investment projects: a practical approach. Oxford University Press.