Project Appraisal
This stage comes before Project Formulation in which it is tested whether the project under the consideration will give the company required returns.
For Example:
By calculating Net Present Values of the given project etc
Project Formulation
Devising plans and methods to operate the poject to earn desired returns
environmental appraisal of projects
Abstract of performance appraisal system
The main disadvantages of project appraisal are cost and time. The cost of a project appraisal may outweigh the potential profit to be made. The time taken to complete the appraisal may have an effect on the company if employees have been deployed from other areas.
Technical appraisal of a project management requires examining if the project fulfills the task and how well it fulfills the task. This is a qualitative and quantitative approach.
Project Appraisal Documents
discounted cashflow method is used
Commercial , Financial , Technical .
Project evaluation is a systematic approach of gathering, studying and using information to resolve answers related to a project. It means to understand the relevancy and achievements of project objectives, impact and sustainability. Project appraisal, on the other hand, is a process of finding out a project's viability. It is a continuous process that involves analyzing the effectiveness, feasibility and cost effectiveness of the project.
1.project appraisal is ex-ante anlysis.project evaluation is ex-post analysis. 2.proj appr. identifies and values the expected costs and benefits of a project whereas proj.eval. determines real costs and benefits of a project.
Very carefully.
K. Janovsky has written: 'Project formulation & proposal writing'
Scott S. D'Arcy has written: 'The application of engineering project appraisal techniques to a commercial project'