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PIARC (World Road Association), founded in 1909 and comprising 125 member governments from all over the world, is the global forum for exchange of knowledge and experience on roads, road transport policies and practices. With consultative status to the Economic and Social Council of the United Nations, the Association is contributing to a stable and sustainable global development of the road and transport sector.

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Term of the Road Dictionary

evaluation of a project

Language : PIARC Road Dictionary / English
Theme : Financial and Legal Tools Finance and Procurement Economics and Finance
Definition : Assessment and, where possible, quantification of the value (monetary or nonmonetary) of a project. Notes: 1. The aim is to determine the relevance and fulfilment of objectives, efficiency, effectiveness, impact and sustainability that result from the project. 2. An evaluation should provide information that is credible and useful and enable the incorporation of lessons that are learned in the process. It is based on information which is specially collected and interpreted to support the assessment.

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