Project Cycle Management revolves around Project Formulation-Project implementation-Monitoring and Evaluation
Project Cycle Management refers to the life cycle of a project. Project Cycle Management include distinct phases including project identification, project formulation, project appraisal, project feasibili5ty study, project financing, project implementation, monitoring and evaluation and revision and even replanting of the project, if necessary. Project formulation phase is very important for a project life. Several l steps are needed to be completed in order to formulate a project. Situation analysis, problem analysis, objective analysis , etc. are needed to be done by professional personnel. Objective oriented logical frame-work is required to be formulated having clear hierarchical level of objectives (goal, purpose, ouput, activities, etc.), objectively verifiable indicators and assumptions. When a project is ready it will be subject to appraisal and feasibility study including loo0king through the technical, physical, environmental, social and financial feasibilities. After passing all these tests and steps the project will get green signal to start its implementation process. Project Cycle Management has a very distinct and necessary phase like Monitoring and Evaluation (M&E). M&E may be called as an alternate heart of the project management cycle. M&E is integrated with the project implementation phase. Monitoring and Evaluation tracks and steers the project implementation process towards its completion. Revision and re-planning of the project strategy is often done following the observations and findings of the project monitoring and evaluation tool adding value to the existing project via-à-vis the project cycle management.
The project Planner and the Project Manager must have specific knowledge and skills in project cycle management in order to derive desired benefit and impact out of project development and its implementation . Click here