06: Project implementation

Investments are not just appraised on the basis of the financials. Other more qualitative assessments will have to be made before they can be presented to management.

For example, an investment in a new plant may have a potentially high rate of return but it may be unacceptable for political/environmental reasons or be impossible to implement from a legal perspective because of land issues.

Once projects have been approved, implementation will often involve many different parts of your organisation – and external advisers in some cases. Monitoring will be a key part of the implementation process, because any delays or bottlenecks could result in increased costs or, more critically, in the project not being implemented at all.