potential acceptance and approval for implementation. Approval, of course, means
that the funding agency is willing to finance whole or part of the project as a means
of implementation.
This stage is usually carried partly by the Client and partly by a Consultant or
only by the latter.
22.4.3 Appraisal and Funding
Before sanctioning a loan for a project, funding agencies usually like to evaluate the
overall dependability of the project and its suitability for implementation. This is the
process of appraisal.
When funds are available internally for a project, the degree of formal and critical
appraisal broadly varies in agreement with usual government practice.
For the sake of good governance, if anything else, some formal appraisal is a
desirable necessity, before funds are committed. This might prevent useless expenditure or help in better using the money on other projects which are on the list. In
economics, we learn that money is scarce. However, there is rarely a scarcity of
projects on the list for development, and each one seems to be more urgent than
the next.
If the feasibility report has properly addressed all the issues involved (i.e. the
questions and answers that interest the funding agencies), this stage can be very short
and quick. Otherwise, several missions might be necessary, at several months
intervals, just to ensure that a proper project document has been prepared.
This stage is carried out by the funding agency(ies) and the results are usually
presented or discussed with the Client (and sometimes, Consultant) at round table
meetings.
22.4.4 Implementation
From the funding agency’s point of view, the implementation process physically
spreads from the start of the construction or project development until completion,
when the project starts its operational activities. This needs a close monitoring of all
activities as the project proceeds so that any possible implementation difficulties are
quickly recognised and remedial measures considered and taken.
These activities will usually comprise, inter alia, the acquisition of resources, the
erection of infrastructure, the start of production or operation work, and the improvement of support systems.
This close monitoring and supervision is in fact carried by four parties:
(1) the Contractor – the organisation, physically involved with the project
development.
22.4 The Project Cycle
631
that the funding agency is willing to finance whole or part of the project as a means
of implementation.
This stage is usually carried partly by the Client and partly by a Consultant or
only by the latter.
22.4.3 Appraisal and Funding
Before sanctioning a loan for a project, funding agencies usually like to evaluate the
overall dependability of the project and its suitability for implementation. This is the
process of appraisal.
When funds are available internally for a project, the degree of formal and critical
appraisal broadly varies in agreement with usual government practice.
For the sake of good governance, if anything else, some formal appraisal is a
desirable necessity, before funds are committed. This might prevent useless expenditure or help in better using the money on other projects which are on the list. In
economics, we learn that money is scarce. However, there is rarely a scarcity of
projects on the list for development, and each one seems to be more urgent than
the next.
If the feasibility report has properly addressed all the issues involved (i.e. the
questions and answers that interest the funding agencies), this stage can be very short
and quick. Otherwise, several missions might be necessary, at several months
intervals, just to ensure that a proper project document has been prepared.
This stage is carried out by the funding agency(ies) and the results are usually
presented or discussed with the Client (and sometimes, Consultant) at round table
meetings.
22.4.4 Implementation
From the funding agency’s point of view, the implementation process physically
spreads from the start of the construction or project development until completion,
when the project starts its operational activities. This needs a close monitoring of all
activities as the project proceeds so that any possible implementation difficulties are
quickly recognised and remedial measures considered and taken.
These activities will usually comprise, inter alia, the acquisition of resources, the
erection of infrastructure, the start of production or operation work, and the improvement of support systems.
This close monitoring and supervision is in fact carried by four parties:
(1) the Contractor – the organisation, physically involved with the project
development.
22.4 The Project Cycle
631