THE PROJECT CYCLE By Dr. 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 impact Is 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