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]

Process

• Initial Assessment
• Define problem and long-list
• Consult and short-list
• Evaluate alternatives
• Compare and select Project appraisal

Types of appraisal

• Technical appraisal
• Project appraisal
• Commercial and marketing appraisal
• Financial/economic appraisal
• organisational or management appraisal
  • Cost-benefit analysis^[4][5][6]
• Economic appraisal^[7]
  • Cost-effectiveness analysis
  • Scoring and weighting

References

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 Analysis 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.