Evaluation is a process to assess the performance of a project or program against its objectives in a systematic and objective way at a given point in its lifecycle. Different forms of evaluation are appropriate before, during and after a project is run.
An audit measures conformance against pre-determined expectations, typically against financial, resource and governance models.
Evaluation is concerned with ability to meet the required objectives as expected by the stakeholders.
Projects often have multiple objectives. Failure to meet them results in stakeholder dissatisfaction, reduced profits, or both. Independent evaluation is a powerful tool to assist successful project management and should be built-in to the project plan.
Amongst other questions an evaluation asks whether the project is properly on-track, whether the information-flow is correct, if responsibilities are properly allocated and met, and whether expectations and objectives are clearly defined and understood.
Evaluations are also an important component of knowledge management, ensuring that valuable experience is captured and re-used advantageously while shortfalls are detected at the earliest opportunity.
Any project with multiple stakeholders or where outcomes are critical or difficult to achieve will benefit from this approach.
Prior to project start an evaluation ensures that requirements and expectations are properly accounted for in the management structure and project plan, and that progress against those expectations can be monitored effectively.
Evaluations at selected points during a program may be constructed to analyse progress, uncover issues, ensure that reporting reflects reality, capture knowledge and refine processes.
Evaluation can also be applied after a project is complete to help in judging its success or in planning a further step.
Many different types and scales of project can benefit from an independent assessment. In particular, it can provide the evidential basis for further programs or additional funding.
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