Project Cycle Management Training Handbook - CFCU

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Project Cycle Management Training Handbook
2.4 Summary
� The way in which projects are planned and carried out follows a
sequence that has become known as the project cycle. It provides
a structure to ensure that stakeholders are consulted and relevant
information is available, so that informed decisions can be made
at key stages in the life of a project.
� The six phases in the project cycle are progressive. Each phase
leads to the next. Information is required at each phase in order
that sound decisions are made before progressing to the next
phase. The cycle means that lessons from completed projects are
used to improve future projects.
� The separation of the Identification and Formulation phases is
particularly important. By adhering to the identification phase, the
relevance of project ideas can be systematically established before
the preparation process is too far advanced for the idea to be
dropped.
� Project Cycle Management (PCM) was introduced by the
European Commission in the early 1990’s to improve the quality
of project design and management and thereby to improve aid
effectiveness. PCM integrates the phases of the cycle so that key
issues are examined systematically.
� PCM brings together aid management principles, analytical tools
and techniques, and applies them within the structured decisionmaking
process of the project cycle to ensure that projects are
relevant to the real needs of beneficiaries, and are feasible and
sustainable.
� The main design and management tool used within PCM is the
Logical Framework Approach. To be used effectively, it must be
supported by other tools for technical, economic, social and
environmental analysis.
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