Significance / Usefulness / Importance of Project Appraisal:
Project appraisal is useful in following ways;
- It helps in arriving at specific & predicted results.
- It evaluates the desirability of the projects.
- It provides information to determine the success or failure of a project.
- It employs existing norms to predict the rate of success or failure of a project.
- It verifies the hypothesis framed for the project.