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. It often involves comparing various options, using economic appraisal or some other decision analysis technique.Cost-Benefit Analysis, 2nd edition, (2001) by Boardman, Greenberg, Vining, and Weimer, 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>.
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 Initial assessments Define problem and long-list Consult and short-list Evaluate alternatives Compare and select project appraisal.
Types of appraisal Technical appraisal Project appraisal Legal appraisal Environment appraisal Commercial and marketing appraisal Financial/economic appraisal Organizational or management appraisal Cost-benefit analysisHanley, 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. Economic appraisalKohli, K. N (1993). Economic analysis of investment projects: a practical approach. Oxford University Press. Cost-effectiveness analysis Scoring and weighting.
See also Feasibility study
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