Question

• What measures will you use to evaluate the project’s success?
  • What does success look like?
• What methods will you use to conduct the evaluation of the project?
• What is the time line for evaluating the project?
• How will you ensure the project’s continued success moving forward?

ANY INFORMATION IS HELPFUL THIS IS BASED ON ANY PROJECT OF ANY KIND JUST YOUR THOUGHTS.

Answer 1

I would use the measures of financial analysis, profitabililty, sales and how the project has impacted the people, whether it has had a desired effect. For example a project was initiated of housing development in order to provide a household at a low cost to citizens. Thus I will evaluate the projects success based on how it has enhanced prosperity and savings rate in the economy. Increased cleanliness. All the parameters which surround the outcome.

Success looks like higher income earning capacity and ability of the project to achieve what it set to envisage in the incubation stage. The positive effect on people and implementation at a low cost, having the desired effect in the long run.

Methods of conducting primary and secondary research in order to evaluate the project. How much has been completed and how much was expected, the cost and benefit analysis, the feedback system to assess the customer satisfaction.

The time line could be one to two months in order to finish off evaluating the projects so that a comprehensive analysis is sought and then starting on the next project so that what all is learned in this one could be used in economic analysis for the next project.

Projects continued success going forward could be ensured by doing timely checks of the project's sustainability after a particular duration for example every 6 months in a year. Provision of timely financial assistance for example a housing project facing structural issues after completion, availability of funds ensures the project stays for a long period and that future projects are undertaken for such schemes. Thereby enhancing the chances of success.