Managing a project
A project is a series of activities aimed at bringing about clearly specified objectives within a defined timeframe and with a specific budget.
A project includes:
- Clearly identified stakeholders, including the primary target group and the final beneficiaries.
- Clearly defined coordination, management and financing arrangements.
- A monitoring system to oversee and follow implementation and to support project management.
The Project Cycle Management (PCM) represents the whole of management activities and decision-making procedures used during the life cycle of a project.
PCM helps to ensure that projects are relevant to an agreed strategy and to the problems of target groups. Projects should also be feasible, meaning that objectives can be achieved within the constraints of the operating environment and within the competencies of the implementing organisation. Projects should also generate sustainable benefits.
Within the PCM, the Logical Framework Approach (LFA) is an analytical and management tool used by many aid agencies, international NGOs and partner governments.
The LFA helps to analyse and organise information a structured way. The Logical Framework Matrix (the logframe) consists of a matrix summarising the key elements of a project plan.