THE PROJECT CYCLE
In this course (ENT 216), we will devote our attention to the Appraisal and Evaluation of projects. But we need to understand what a project is. Let us begin our discussion by trying to define what a project is so that we can understand one when we see same.
Let us define a project as an undertaking however named or described that requires a concentrated effort. What it means is that every project will require commitment and critical deployment of scarce resources. It is important to stress that resources are not unlimited in the real sense of it. They are scarce.
In a real life setting, we are likely to be confronted with various projects in both the public and private sectors of the economy. We may be confronted with manufacturing projects that churn out goods. On the other hand, the projects could be public sector civil engineering projects. Your key task as a Project Analyst or Evaluator is to be able to carefully analyse projects brought to you and attach values to the projects
especially in a situation of capital rationing i.e. limited funds availability.
Our first important task in this unit is to examine the concept of a project cycle. The concept is very crucial as its understanding will go a long way to ensure that we are carried along in our study. A good understanding of a project cycle will guide us throughout the duration of this course.
OBJECTIVES
At the end of this unit, you should be able to:
define a project cycle
discuss the various stages of a project cycle.
In this course (ENT 216), we will devote our attention to the Appraisal and Evaluation of projects. But we need to understand what a project is. Let us begin our discussion by trying to define what a project is so that we can understand one when we see same.
Let us define a project as an undertaking however named or described that requires a concentrated effort. What it means is that every project will require commitment and critical deployment of scarce resources. It is important to stress that resources are not unlimited in the real sense of it. They are scarce.
In a real life setting, we are likely to be confronted with various projects in both the public and private sectors of the economy. We may be confronted with manufacturing projects that churn out goods. On the other hand, the projects could be public sector civil engineering projects. Your key task as a Project Analyst or Evaluator is to be able to carefully analyse projects brought to you and attach values to the projects
especially in a situation of capital rationing i.e. limited funds availability.
Our first important task in this unit is to examine the concept of a project cycle. The concept is very crucial as its understanding will go a long way to ensure that we are carried along in our study. A good understanding of a project cycle will guide us throughout the duration of this course.
OBJECTIVES
At the end of this unit, you should be able to:
define a project cycle
discuss the various stages of a project cycle.
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