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Evaluating and Terminating the Project

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Submitted By hanif5867
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CHAPTER 8
Evaluating and Terminating the Project
We now come to the final stage in any project—evaluating the result and shutting down the project. As we will see, there are many ways to do both, some relatively formal, some quick and dirty, and some rather casual. We discuss evaluation first, in the generic sense, and then discuss a very specific and often formal type of evaluation known as the project audit. Following this we discuss termination of the project. 8.1

EVALUATION
The term “evaluate” means to set the value of or appraise. A project evaluation appraises the progress and performance relative to the project’s initial or revised plan. The evaluation also appraises the project against the goals and objectives set for it during the selection process—amended, of course, by any changes in the goals and objectives made during the project’s life. In addition, evaluations are sometimes made relative to other similar projects. The project evaluation, however, should not be limited simply to an afterthe-fact analysis. Rather, it is useful to conduct an evaluation at a number of crucial points during the project life cycle. Because the primary purpose of a project evaluation is to give feedback to senior management for decision and control purposes, it is important for the evaluation to have credibility in the eyes of both senior management and the project team. The control purpose of evaluation is meant to improve the process of carrying out projects. The decision purpose is intended to improve the selection process. Thus an evaluation should be as carefully planned and executed as the project itself.
The use of post project evaluation to help the organization improve its project-management skills on future projects means that considerable attention must be given to managing the process of project management. This is best
accomplished

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