THE PROJECT CYCLE

ByDr. Peter Quartey

(ISSER, Univ. of Ghana)

OUTLINE

Introduction to the Project Cycle Managing the Project Cycle

1. INTRODUCTION TO THE PROJECT CYCLE

A project is `a series of activities aimed at bringing about clearly specified objectives within a defined time-period and with a defined budget’

The various steps or stages a project takes from conception to completion is known as the Project Cycle

1. INTRODUCTION TO THE PROJECT CYCLE

The `project cycle’ is a way of viewing the main elements that projects have in common, and how they relate to each other in sequence

Stages: Identification, Preparation, Appraisal, Approval, Implementation, Supervision, Appraisal

European Commission – Project Cycle

AFRICAN DEVELOPMENT BANK

International Fund for Agric. Dev. (IFAD)

1. INTRODUCTION TO THE PROJECT CYCLE

Identification: close consultation with the Government and various stakeholders, including the private sector organizations, NGOs, and the country's other development partners eg. CAS (World Bank)

Preparation: Feasibility studies are carried out – financial needs, including environmental effects

1. INTRODUCTION TO THE PROJECT CYCLE

Appraisal: Detailed project risks and sensitivity analyses are carried out to assess viability of the proposed project.

Following the examination in the field, the appraisal mission conducts further field study, analyses and consultation, as required.

1. INTRODUCTION TO THE PROJECT CYCLE

Approval: Feasibility reports are studies and project is approved if deemed viable

Implementation: Project is executed according to schedule – ie recruiting consultants, preparing tender documents and detailed designs, procuring equipment, selecting contractors for construction

1. INTRODUCTION TO THE PROJECT CYCLE

Evaluation: The formulation and implementation of the project is evaluated, a project performance audit report containing an assessment of the project's:

formulation and implementation economic, financial, and social benefits environmental impactIs prepared

2. MANAGING THE PROJECT CYCLE

This involves providing the managerial skills for designing, implementing and evaluating projects and in working collaboratively with clients and other key groups to accomplish these tasks.

Project Cycle Management provides the following benefits:

2. MANAGING THE PROJECT CYCLE Projects with clear, realistic and measurable

objectives and impacts Improved assessment and management of project

risks Enhanced strategies for interest group involvement More realistic work plans and budgets Stronger monitoring and evaluation systems Better performing project teams A common language and approach for program

management Increased potential for lasting program benefits