What is a Project

Project Identification

• Is the process of searching for promising investment opportunities that are directed towards overcoming problems constraining the achievement of desired development objectives, or towards exploiting an existing development potential.

Project design

• Setting of project objectives and description of project components. Includes implementation arrangements such as activities to be undertaken, project schedule, resource allocation, budgeting and structuring the project organization.

Feasibility Study Preparation

• Examines whether or not the project can and should be undertaken given the parameters and standards set-forth in the project design;
• Covers the following integrated areas of study: market/beneficiary analysis, technical study, organization and management analysis, financial analysis and economic study.

Feasibility Study Preparation

• Market Study

-determines the extent t which the product or services to be generated by the project is needed or demanded.

-is there a need/demand for the product or service?

• Technical Study

-determines the most feasible alternative means of solving potential problems in terms of technology, size or scale, location and timing of implementation;

-is this the best technical alternative?

• Feasibility Study Preparation

1) Organization and management

2) Financial Analysis

3) Economic Analysis

Organization and Management

Establishes the operational capability of organizations in undertaking the project requirements;

Can we implement /operate the project?

Financial Analysis

Determine the project’s profitability and debt servicing capacity

Will it be profitable? Can we repay the loan?

Economic Analysis

Determine a project’s net contribution to the economy;

Expected economic and social benefits are compared with the economic and social costs of undertaking the project;

What are the economic benefits/costs?

Project Appraisal

• A critical review of a project’s design whether it will be able to achieve the desired objectives; and,
• Analysis of a project’s potential contribution to higher level goal vis-a-vi with other projects in the pipeline.

Project Implementation

• Planned activities are undertaken to deliver the services and infrastructure to be provided by the project.
• Divided into:

Start-up Phase

Implementation Phase/Progress Monitoring

Phase-Out Phase

Project Monitoring and Evaluation

• Routine review of performance of various implementing groups and the use of project resources to ensure that all project activities are undertaken an orderly and optimal fashion

Project Phase-Out

• Once project “implementation” is completed, responsibilities are transferred from the project implementing team to the “receivers/beneficiaries” of the project. Also known as handover stage.

Project Operation

• Stage where beneficiaries utilizes the services and infrastructure provide by the project;
• the project is turned over to the project beneficiaries

Benefits Monitoring and Evaluation

• During the operation stage, the expected benefits of a project to the target beneficiaries are monitored and evaluated. The attainment of these benefits determines the success or failure of a project.

Impact evaluation

• Determine whether the stated goals were achieved;
• Attribute the identified effects in relation to the program or project;
• Determine conditions under which project is most effective; and,
• Identify any unanticipated consequences or side effects of the implemented project.