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1(Project Evaluation)project evaluation1 (Merit or Quality) ( Worth or Value) (Significance or Importance) project evaluation2 (measurement) (design) (implementation) (results) project evaluation3 (Evaluation)Project evaluationProduct evaluationProgram evaluationPolicy evaluationProcess evaluationPerformance evaluation

project evaluation4 (Role of Project Evaluation) (project) (program)

100 50 5 ? project evaluation5 (Role of Project Evaluation) 25 ? project evaluation6 (Role of Project Evaluation) One tablet per studentOne scholarship per district etc. project evaluation7PrivatePublicPrivate () PPP

Public () project evaluation8

project evaluation9 Objective Based Model Tyler Cronbach Judgmental Evaluation Model Stake Provus Decision-oriented Evaluation Model Stufflebeam Alkinproject evaluation101. Tyler, Ralph W. Basic Principles of Curriculum and Instruction, The University of Chicago, 19592. Stufflebeam, D.L. and others, Educational Evaluation and Decision making, Illinois: F.E. Peacock, Publishers, 19713. Worthen, B. and Sanders, J.R. Educational Evaluation: Theory and Practice, Belmont. California: Wadworth Publishing, 1973 Tyler (objective model) (goals) (process) (outcomes) project evaluation11 Tyler Model project evaluation12 (Stufflebeam) .. 1971 4 (Context Evaluation) (Input Evaluation) (Process Evaluation) (Product Evaluation)project evaluation13 (Stufflebeam) (Context Evaluation) project evaluation14 (Stufflebeam) (Input Evaluation) project evaluation15 (Stufflebeam) (Process Evaluation) project evaluation16 (Stufflebeam) (Product Evaluation) project evaluation17 project evaluation18 1 project evaluation19 ( System Approach) 3 project evaluation20 ( System Approach) project evaluation21(Strategic Evaluation)project evaluation2223projectprojectproject 2425project evaluation26

Balanced Scorecard (BSC) Robert S. Kaplan David Norton (Financial) (Internal Business Process) (Customer Perspective) (Learning and Growth)project evaluation27project evaluation28

project evaluation29

project evaluation30Obj KPI Target InitiativeFinanceObj KPI Target InitiativeBusiness ProcessObj KPI Target InitiativeCustomerObj KPI Target InitiativeInnovationVisionStrategyproject evaluation31 BSC Pioneer Petroleum IT dealer dealer (Image) dealer dealer dealer dealer dealer IT : project evaluation32 project evaluation33 (Project Management) CPM (Critical Path Method) PERT (Program Evaluation Review Technique) project evaluation34CPM/PERTCPM/PERT project evaluation35 PERT CPMPERTCPMThe origin is military It is an event oriented approach.

There is allowance for uncertainly

It has three time estimates

It is probabilistic model with uncertainty in activity duration

It does not demarcate between critical and non-critical activities.

The origin is industrial

It is an activity-oriented system

No such allowances.

There is only one single estimate of time and the emphasis is on cost.

It is a deterministic model with well-known activity time based upon past experience

It marks critical activities.project evaluation36PERTCPMIt is especially suitable when high precision is required in time estimates

Time is averaged

The concept of crashing is not applied

It lays emphasis on reduction of the execution time of the project without too much cost implications .It is time based.It is suitable when reasonable precision is required.

No averaging of time is required

The concept of crashing is applied

It lays emphasis on the greatest reduction in the completion time with the least increase in project cost. It is cost-based.project evaluation37 Types of Evaluation : (methodology) (formative evaluation) (summative evaluation) (impact evaluation)project evaluation3838 Types of EvaluationEx-ante evaluationEx-Post evaluationExternal evaluationInternal evaluation or self-assessment

project evaluation3939 Types of EvaluationExante evaluation Ex-post evaluation (factors of success) project evaluation4040 Types of Evaluation External evaluation

project evaluation4141 Types of EvaluationInternal or self assessment project evaluation4242 Types of EvaluationQuantitativeQualitativeproject evaluation43

43 (Integrated Analysis) (project) capital investment social investmentproject evaluation44Demand Module Technical Module Project Financing project evaluation45 (Incremental Activity)Net receipts, net cash flows, and net economic benefits with the projectWith/without project without??? (Incremental) = - project evaluation46 (Integrated Approach) (financial Appraisal) (Economic Appraisal) (Risk Appraisal) (Stakeholder Analysis)project evaluation47 Benefits Costs financial cash flow statement Illiquidity/ Account receivable/payable NPVIRR

project evaluation48 inputs/outputs

project evaluation49 Economic Resource Statement cash flow statement discount rate

project evaluation50 project evaluation51 cost effectiveness (cost effectiveness) project evaluation52 (Cost benefit Analysis)project evaluation53Cost-Benefit Analysis (CBA) () 54CBACBA Net Present Value (NPV), a Benefit-Cost Ratio (BCR).4 :1. time horizon2. benefit schedule3. cost schedule4. discount rate55Present Value ConceptDiscounting: = process to obtain the present value of future Euro amounts:

PV = present value, FV = future value, r = discount rate, and t is the number of periods into the future.

0ttimepresent valuefuture valueidea of discountingEuro56Present Value ConceptNominal versus Real: = nominal refers to the Euro value in current terms (not discounted), whereas real refers to the dollar value discounted to some base Euro value (discounted values).Discount Rate: indicates how you value present consumption (utility) versus future consumption (utility)- the higher the discount rate the more you value present consumption relative to future consumption- the lower the discount rate the more you value future consumption relative to present consumption.57Cost-Benefit Analysis (CBA)In any CBA, several stages must be conducted (Hanley and Spash, 1993):1) Definition of the Project2) Identification of the Project Impacts3) Which Impacts are Economically Relevant?4) Physical Quantification of Relevant Impacts5) Monetary Valuation of Relevant Effects6) Discounting of Cost and Benefit Flows7) Applying the Net Present Value Test8) Sensitivity Analysis58Cost-Benefit Analysis (CBA)1) The net present value test2) The internal rate of return test 1) Utility based appraisal : - - - 2) Consumption based appraisal

NPV>0IRR=0

59NR = net returnsCost-Benefit Analysis (CBA)NPV test is a potential compensation test => is concerned with allocative efficiency (select projects that move the economy toward an efficient allocation of its resources).The proper time horizon for the appraisal of a project is the date at which its impacts cease, not the date at which it ceases to serve the purpose for which it was intended.e.g., for a nuclear fission plant the time horizon is not the 40 years to the time when it ceases to generate electricity but the time over which it is necessary to devote resources to storing the plant's waste products - 100s of years.60 discount rate discount rate2550100200260.9537.1513.801.91437.5114.071.980.04623.305.430.290.0009814.602.130.050.00002=> real rates nominal rates CBA61 CBACost Effectiveness Analysis- - CBA.Impact Analysis- CBA * Multi Criteria Analysis62