Question

Why is it better to rely on a variety of information sources for evaluation rather than just a few? Give some examples of how several sources are used in project evaluation.

What are the advantages and disadvantages of the following sources of information: (a) charts and tables, (b) oral and written reports, (c) firsthand evaluation?

What is the purpose of internal peer reviews? When are they held? Who participates?

Answer 1

It is better to evaluate the project from a number of different perspectives,i.e. to use a number of different information sources. It is so because it includes a number of viewpoints and perspectives about the project, and provides a holistic , overall assessment. In this way, it minimises the possibility of non - inclusion of a vital factor that can affect the project performance adversely.

The examples of project evaluation can be through

(i) Previous project reports

(ii) Subject matter experts

(III) Those who have previously worked on similar projects.

(iv) Literatures and journals related to project.

(v) Internal experts from different functional ares.

Advantages and disadvantages of different methods.

(i) Charts and tables- This method has advantage of having a standard reference value, that is applicable to a number of situations. It can help to interpret the trends, values, projections, risks and other relevant factors. It has output  from previous projects and therefore acts as aguiding tool. On the downside, the charts and tables can not be interpreted by a layman or an untrained person, which calls for specific skills.

(ii) Oral and written reports- These are vital because they explain the issues thoroughly and face to face ( in oral), so that there is no communication gas and the information is exchanged from both ends. The recipient can clarify if it has any doubts. These reports are elaborate and leave no doubts.  On the downside, the effectiveness and correctness of oral communication depends on skills of communicator and recipient of information. The chances of omission of an information is also possible, which can cost dearly.

(iii) Firsthand evaluation is helpful because it is easy to conduct, does not involve any formalities and often gives an honest opinion about the project if the evaluator is skillful and experienced. On the downside it does not involve any comprehensive evaluation methids and therefire can go wrong if the project is complex.

Note: As per policies, I can answer first 4 parts of a question. Inconvenience is regretted.