PROJECT FORMULATION

At this stage of the project management cycle implementing agencies should prepare and present a detailed project design, including all types of planning: plan of activities, time planning, resource planning, communication planning, financial planning, cost-benefit analysis, risk analysis, evaluation and audit arrangements. In the EC-funded programmes this phase usually implies filling out the Full Application Form and presenting a number of supporting documents, such as partnership statements, detailed budget and logical framework matrix.

Full Application Forms/ detailed project designs are further assessed by donors, with criteria built on those of the identification phase. However, in this phase special emphasis is put on feasibility (including technical, social, environmental and economic), implementation arrangements, risk and sustainability analysis.

Detailed description of assessment criteria can be found in the Project Management Handbook. At the end of formulation phase the donors must decide whether to grant funding or reject the project proposal.