There has lately been an increasing emphasis on methods of
evaluating development projects in the developing countries. The
traditional focus, which relies on only a financial appraisal of
projects, is no longer a favourite topic with project analysts,
especially in the public sector. In order to capture the full impact of
projects, several methodologies, focusing on the economic and social
aspects, have been introduced in the literature during the late Sixties
and early Seventies. Moreover, to enhance/facilitate the applicability
of these methods to actual projects, the need for Manuals, Guidelines,
and Guides of project appraisal has been felt from time to time. Some
well known attempts in this area have been made by OECD [2], UNIDO [1;
5], ODA [6] and ODM [7].
