2
. STEP BY STEP GENERAL APPRAISAL GUIDANCE
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Introduction
Step By Step General Appraisal Guidance
2.1 STEP ONE - Explain the Strategic Context
2.2 STEP TWO: Establish the Need For Expenditure
2.3 STEP THREE: Define the Objectives and Constraints
2.4 STEP FOUR: Identify and Describe the Options
2.5 STEP FIVE: Identify and Quantify the Monetary Costs and Benefits of Options
2.6 STEP SIX: Assess Risks and Adjust for Optimism Bias
2.7 STEP SEVEN: Weigh Up Non-Monetary Costs and Benefits
2.8 STEP EIGHT: Calculate Net Present Values and Assess Uncertainties
2.9 STEP NINE: Record proposed arrangements for Financing, Management, Marketing, Procurement, Monitoring and Evaluation
2.10 STEP TEN: Assess the Balance of Advantage between the Options and Present the Appraisal Results and Conclusions