The Project Cycle is the framework used by all multilateral lending agencies (MLA) to design, prepare, implement and supervise projects.
The project cycle includes six stages: Identification, Preparation, Appraisal, Negotiation/Approval, Implementation, and Evaluation.
Understanding the project cycle is crucial to identifying business opportunities and HYPER TRADE mission is to provide its clients, and players involved at large, with the necessary expertise for a successful project management.
During this phase a number of studies of development issues at the thematic, country and sector level are carried out.
Based on sector work and country strategies, the MLA and beneficiary countries jointly identify projects that support their development goals. After a project implementing agency has been identified and appropriate staff have been designated to manage the project, they will conduct pre-feasibility and feasibility studies. The MLA staff is tasked to monitor these studies and provide assistance as required. They will advise the beneficiary country on their initial efforts and conduct an “identification mission” to begin detailing key principles and conditions of the project.
The beneficiary country is responsible for project preparation. During this stage, the beneficiary country continues to conduct further studies and impact assessments that refine the objectives, components, schedule, institutional responsibility and implementation plan of the project.
Appraisal is the sole responsibility of MLA staff. They will review all the studies conducted in previous stages, including the procurement plant that identifies the types and amounts of equipment, goods, civil works and services that will be purchased.
During negotiations, the MLA and beneficiary countries will agree on the terms of the loan or grant supporting the project.
After the grant or loans are approved, the beneficiary country can use the funds to purchase the goods and services necessary to meet the project’s objectives. The beneficiary country, is responsible for implementing the project. During this phase HYPER TRADE can play a role as:
Following completion of the project, a team of appointed experts, conducts an audit of the project, where the project’s outcome is measured against its original objectives. The audit entails a review of the project completion report and preparation of a separate report.