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Evaluating project achievements and impacts.
Evaluating project achievements and impacts Open image in new window Fig. 2 The three phases of the METRONOME evaluation methodology and their linkages.
For instance, an average crowd member may be either unqualified or unwilling to conduct the due diligence necessary for evaluating project risks.
Furthermore, relative to their investments, the costs for lead investors to conduct due diligence (e.g., evaluating project ideas and teams) are small (Ahlers et al. 2015).
Moreover, few studies have examined the human side as a 'cross-functional tool' for collectively evaluating project proposals toward potential success, an important link that is missing in the management literature.
Amid this disintermediation is the unprecedented reliance on crowds, defined as a large number of non-experts, for tasks such as gathering project information, evaluating project risks, and deciding whether a project should be funded.
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"It gives people a chance to experience leading teams and implementing change, and monitoring and evaluating projects," Craig adds.
Last year the Spanish government gave the World Bank €10m ($16m)—the institution's largest trust fund to spend on evaluating projects.
This would provide us with a holistic way of evaluating projects.
The process of creating and evaluating projects is an initial activity in implementing six sigma.
In addition, when evaluating projects in terms of their financial attractiveness, the two measures may rank projects differently.
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