Difference Between Project Appraisal and Project Evaluation

Project appraisal and project evaluation are two distinct yet interconnected processes crucial to project management and decision-making. Project appraisal refers to the assessment carried out before a project starts to determine its feasibility, viability, and potential impact. It typically involves analyzing the project's objectives, scope, costs, benefits, and risks to ensure that it aligns with organizational goals and provides value. Project evaluation, on the other hand, occurs after the project is completed or during its implementation to assess its effectiveness, efficiency, and overall success. It involves measuring performance against predefined objectives, analyzing outcomes, and identifying lessons learned to improve future projects. Both processes are essential for ensuring project success and informed decision-making but differ in their timing and focus. This article explores these differences in depth, highlighting their importance in the project lifecycle and providing insights into best practices for each.