Project evaluation – criteria and tools

Project evaluation is not just another step in the development cycle. It is a continuous process in project management, essential to the success of a project. To better understand its importance, consider the example of a company that had to revise its objectives midway due to insufficient evaluation.

The company in question had initially set ambitious goals for its new product, expecting to capture a significant market share within six months. However, after three months of implementation, user feedback and sales figures showed that the product did not meet market expectations. Without regular evaluation, this realisation could have come too late, resulting in considerable financial losses and damage to the company’s reputation.

Thanks to real-time evaluation, the company was able to identify the shortcomings of its product, understand the unmet needs of its customers, and redirect its strategy. It invested in feedback sessions, organised focus groups, and collaborated closely with users to improve the product. Six months later, with a revamped product better suited to market needs, the company not only regained its target market share but also received praise for its ability to listen and respond to customer needs.

This example perfectly illustrates why evaluation should not be relegated to a mere end-of-project step. It should be integrated throughout the process, allowing teams to adapt, innovate, and effectively respond to challenges.

The essence of evaluation: the project work triangle

Every project requires rigorous evaluation to ensure its success:

• Achievement of objectives: projects are defined by their objectives. Continuous evaluation of these objectives is not just a box to tick. It is a deep dive to ensure the project progresses in line with its initial vision and achieves the expected results.
• Cost control: in the context of project work, constant monitoring of costs, both financial and human, is essential. Evaluating resources is vital to anticipate the effects of overruns.
• Meeting deadlines: meeting deadlines is often a major challenge in project management. Imagine a software company promising a major update in January, but by December, it hasn’t even started testing. This is a clear sign that deadlines will not be met. Thorough evaluation includes analysing delays, whether foreseeable or not, and their impact on objectives.

Proven tools for refined evaluation: indicators and results

A good manager understands the value of indicators:

• Gantt charts: Gantt charts are visual tools that help track the progress of a project. For example, during the construction of a bridge, a Gantt chart can clearly show if the foundation phase is taking longer than expected, impacting subsequent stages.
• KPI Dashboards: these dashboards, true performance indicators, provide an overall view of the project. They highlight areas that require special attention in the work context.
• SWOT analysis : SWOT analysis is a proven method for evaluating the strengths, weaknesses, opportunities, and threats of a project. Consider a start-up launching a new product. A SWOT analysis might reveal that while it has innovative technology (strength), the competition is intense (threat), but the market is growing (opportunity), although it lacks funding (weakness).

Post-evaluation decision: acting with impact

Evaluation, a continual quest for project excellence

4 fundamentals of project evaluation

1. Importance of evaluation
   Evaluation is crucial in the project development cycle, guiding the manager through complexities to ensure optimal impact and relevant results.
2. Project work triangle
   Rigorous evaluation is based on three essential pillars: achieving objectives, controlling costs, and meeting deadlines, to ensure the success and efficiency of the project.
3. Evaluation tools
   Tools such as Gantt charts, KPI dashboards, and SWOT analysis are indispensable for tracking progress, identifying performance indicators, and navigating the challenges and opportunities of a project.
4. Post-evaluation action
   After the evaluation phase, the information collected should guide each action and decision to optimise resources, revise objectives, and introduce strategic changes for the success of the project.