Project Evaluation Stages: Concepts, Methods, and Useful Tools

The evaluation helps the team to determine the vector of development of the project and adjust it in time. However, for many managers, evaluation is a complex and intimidating process, which is why it is often simplified or ignored altogether.

Together with Andrey Koksharov, producer of the direction"Higher Education"in Netology, we figured out why to evaluate the project, what stages it consists of and what tools will help in this.

The article will be useful for project team members and novice entrepreneurs.

A project is a temporary enterprise that aims to create a unique product or service. Projects can have different forms and be implemented in any field and industry. For example, projects can be considered:

• the creation of a coronavirus vaccine;
• development of an application for monitoring patients;
• the project of merging the two organizations;
• development of a new technical device;
• construction of any object;
• development of an IT product to meet a non-obvious or new need for the market.

Also, the projects include startups - young companies without experience in operational or project activities, working on an idea with a high degree of risk and uncertainty.

Any project starts with an idea and ends when:

• the objectives of the project have been achieved;
• it becomes clear that it is impossible to achieve the goals;
• the project is no longer relevant for the customer or the market.
• Evaluation of the project just helps to avoid the risks of not meeting the budget or deadlines of the project, losing as a product or developing features that no one needs.

I will tell you why teams should evaluate the project and what methods they use.