Project appraisal template is a preformatted tool that helps the project managers to evaluate the feasibility and viability of a project or a business model. In this article, you can understand about “appraisal template” and download in excel format for any project.
Key Features of Project Appraisal Template
This tool is used by entrepreneurs, established investors and companies. The major application of this tool is in calculating the feasibility, profitability and practicality of the project based on different techniques.
- Project evaluation & documentation technique
- Use during project case study or request of proposal
- Template is available in EXCEL FORMAT
- After project feasibility study reporting
So, the best feature of the project appraisal template is; it assists in the decision making of the project to choose the best suiting option that allows the companies to achieve set goals in best possible way.
Feasibility & Appraisal Techniques
In the standard procedure, a detailed comparison is made between different options using techniques such as feasibility study, economic, technological, and operational appraisal techniques. You can understand the resource capacity planning after using this template.
Another application of the project appraisal template can be in the evaluation of the project after its completion. It calculates the effect of the project on the company’s financial stability.
Types of Project Appraisal in Excel:
There are different templates used for appraising the different aspects of the project. But the most common templates used by project management professionals are economic analysis, market analysis, financial analysis, and operational analysis of the project.
- These analyses are used to keep the project in the budget by forecasting each aspect prior to the project finalization.
Financial project Appraisal
The project financial appraisal template is used to review the estimated revenues of the project along with the costs involved for the realization of the project. It highlights the projects that require less investment but generates more revenue.
On the other hand, the technical analysis focus on the availability of technology assumed for the success of the project.
Economic Appraisal Template
The use of a project economic appraisal template allows the project managers to focus mainly on the risks and benefits of the project. The risk-benefit analysis is performed in this regard to evaluate the fruitfulness of the project.
Operational Appraisal Template
The operational appraisal template isn’t that famous. However, it is a part of the feasibility study. It evaluates the capability of the project team in terms of skills.
Related Content: Team Resource Planning
- The most important appraisal template after financial appraisal template is marketing appraisal template.
Market Analysis Appraisal Template
It studies the market in all aspects regarding the supply, demand, major competitors and emerging competitors. Any error ineffective application of this tool will have a catastrophic effect on the success of the project.
Following tools are used in the application of marketing appraisal template,
- Competitors Analysis
- Promotion Analysis
- SWOT Analysis
- Retail / Distribution Analysis
- Sales Analysis
- Gap Analysis
- Consumer Behavior Analysis
Steps to use the Project Appraisal Template:
There are several strategies used for developing a project appraisal. However, the professionals of project management recommend using a 4 steps approach that is further dividing into several sub-steps.
- Do a Concept Analysis
- Develop a Concept Brief
- Project Organizational Structure
- Integration and Project Approval
In conclusion, the project appraisal tool is a superset of all the techniques that are used by the project managers for decision making in the choice of a project from different options. It appraises each aspect of the project for the most feasible, practical and profitable choice.