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Project Evaluation Process
Are
costs and benefits
quantifiable?
Perform
cost-effectiveness
analysis
partly
Perform cost-benefit
analysis
Yes
Option viable?
Reject
No
Perform financial analysis
Apply sensitivity analysis
Perform social analysis
Perform environmental
analysis
Perform budget analysis
Are any
of the social
costs/benefits
quanitifiable?
Are any
of the environmental
costs/benefits
quanitifiable?
Perform preliminary
assessment of each
option
Establish project
evaluation context and
evaluation criteria
Stop
Factor quanitifable social
costs/benefits into
financial analysis
Factor environmental
costs/benefits into
financial analysis
Rank options based on
evaluation criteria
Start
Economic analysis
Prepare business case
document for preferred
option
Stop
Yes
Yes
No
Yes
No
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Project Evaluation Process
source: hpw.qld.gov.au
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