Project conceptualization
Project identification is the process of selecting a topic to be developed further into a
project concept. At minimum, project identification outlines the location where the project
will occur, the
broad approach the project will take and the problem to be addressed.
Project conceptualization is the initial process of designing a project that leads to a project
concept document. The project concept is the basis on which the interest of potential
donors is secured. The process of conceptualizing a project outlined in this Guide
encourages project sponsors/managers to consider all of the main aspects of the
proposed project, including a situation analysis, a stakeholder analysis, a theory of change
(covering both the problem analysis and the logic of the proposed intervention) and an
indicative budget.
Preparing the project concept has three main stages, each with specific steps to be
undertaken:
Project Conceptualization
- Prepare a situation analysis
- Prepare a stakeholder analysis and engage stakeholders
- Develop a theory of change (problem analysis and propose intervention logic of intended results and means)
- Prepare the project concept document
Risk Analysis
- Screen the project concept for environmental and social safeguards
- Undergo private sector risk screening (if applicable)
- Screen potential partners for risk
Financial planning
- Prepare an indicative budget
- Prepare a cost-benefit analysis (if applicable)
- Appraisal and approva
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