| Glossary Item |
| Term : |
Evaluation |
| Definition : |
Ex post assessment of a project—carried out
after a project is executed.
Evaluation is based on benefit-cost analysis,
which is a formalised analysis of the project’s
actual worth.
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| Discussion : |
Used to gauge the appropriateness of the
original decision to approve the project.
Refer also appraisal, closure.
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| Examples & Illustrations : |
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