Project appraisal, Performance management tool : Project and Programmes, appraisal of a Project

Monitoring and Evaluation of Projects and Programmes 

Various criteria for project appraisal, discounting and non- discounting techniques of project appraisal can be discussed. but lets starts with basics where many people are uncertain about the diffidence between a project and a program.
   



Differentiate between Project and Programme 


The standard way to explain the difference between Program and Project management goes like this - 

Project Managers manage projects and Program Managers manage a portfolio of projects. 


Such definitions leave much to be desired.



Definition of  Project 

A project is a temporary entity established to deliver specific outputs in line with predefined time, cost, and quality constraints. 

The project often provides the base for sustainable development intervention. 



Definition of a Program 

A program is a portfolio comprised of multiple projects that are managed and coordinated as one unit with the objective of archiving outcomes and benefits for the organizations. 



A project is a temporary entity established to deliver specific outputs in line with predefined time, cost, and quality constraints. 

Whereas, a Program is Portfolio comprising of multiple projects that are managed and coordinated as one unit with the objective of archiving outcomes and benefits for the organizations. 

There are 5 fundamentals differences between the roles:-

  1. Programs are ongoing, projects end
  2. Programs are tied to the organization's Financial Calendar
  3. Program Management is governance intensive 
  4. Programs have greater scope of Financial Management
  5. Program change management is an executive leadership capability 


Project appraisal is a generic term that refers to the process of assessing in a structural way, the case for proceeding with a project or proposal. 

It is an important tool in decision-making and lays the fundamental for delivering and evaluation. 

Appraisal asks fundamental Questions about whether funding is required and whether a project offers good value for money.

It can give confidence that public money is being put to good use, and help identify other funding to support a project. 

The appraisal process builds on the project plan, but it can involve new information if the specialists on the appraisal team feel that some of the data are questionable or some of the assumptions faulty. 



The preparation of a project entails consideration of many aspects. The major aspects to be considered during the appraisal of the project are : - 

  1. Financial Aspect 
  2. Technical Aspect
  3. Social Aspect
  4. Commercial Aspect

If you get some more details on Project appraisal, performance management tool kindly let us know in comment section below.
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