Project Cycle Management Training Handbook - CFCU

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Project Cycle Management Training Handbook
Chapter 2: Project Cycle Management
Structured &
informed
decision-making
This Chapter introduces the project cycle, describes its phases and
explains its role in aid management. It presents an overview of the
rationale and principles of Project Cycle Management, and a brief
description of how the project cycle operates within DGIB.
2.1 The Project Cycle
The way in which projects are planned and carried out follows a
sequence that has become known as the project cycle. The cycle starts
with the identification of an
idea and develops that idea
Figure 3: The Project Cycle
into a working plan that can be
implemented and evaluated.
Ideas are identified in the
Programming
context of an agreed strategy.
It provides a structure to
ensure that stakeholders are
Evaluation
Identification
consulted and relevant Implementation
Formulation
information is available, so
that informed decisions can be
made at key stages in the life
of a project.
Financing
The generic project cycle has six phases: Programming;
Identification; Formulation; Financing; Implementation; and
Evaluation. The details of what occurs during each phase differ
between institutions, reflecting differences in procedures. However,
within all institutions the cycle shares three common themes:
1. The cycle defines the key decisions, information requirements and
responsibilities at each phase.
2. The phases in the cycle are progressive – each phase needs to be
completed for the next to be tackled with success.
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