Differentiate between the various aims of appraising projects.
To extract relevant information for determining the success or failure of a project. This is through field research and other methods that can give a good preamble concerning the project.
To apply standard yardsticks for determining the rate of success or failure of a project. This by setting goals/ambitions and determining a way they will be achieved
To determine the expected costs & benefits of the project. To arrive at specific conclusions regarding the project. Done by a financial expert to determine capital required as well as anticipated net profit or loss.