What Is The Significance of Project Appraisal?

Significance / Usefulness / Importance of Project Appraisal:

            Project appraisal is useful in following ways;

1. It helps in arriving at specific & predicted results.
2. It evaluates the desirability of the projects.
3. It provides information to determine the success or failure of a project.
4. It employs existing norms to predict the rate of success or failure of a project.
5. It verifies the hypothesis framed for the project.