Appraisal
Guide to developing the project business case, Better business cases: for better outcomes, published by HM Treasury in 2018, defines appraisal as: ‘…the process of defining objectives, examining options and weighing up the relevant costs, benefits, risks and uncertainties before a decision is made.’
Guide for Effective Benefits Management in Major Projects, published by the Infrastructure and Projects Authority in October 2017, defines appraise as: ‘Assessment of the value or quality of different options against similar criteria.
Roles in construction projects: analysis and terminology, by Hughes, W. and Murdoch, J. R, published in 2001 by the University of Reading, defines appraisal as: ‘Used by the CIC as a generic description of much of the early work in initiating a project.’
The National Flood and Coastal Erosion Risk Management Strategy for England, Glossary, published by the Environment Agency in 2020, defines appraisal as: ‘…the process of defining the problem, setting objectives, examining options; and assessing outcome benefit (including benefit: cost ratio). The process also includes weighing up costs, impacts, (positive and negative) risks and uncertainties, in order to make a decision.’
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