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Project Cycle Management


Project Cycle Management

The issue of external fundraising for covering the project implementation whose main focus is on the quality improvement of a concrete situation through the accomplishment of feasibly set objectives does not appear to be new. However, the way of obtaining these resources is new. After Slovakia’s accession to the EU, the ways that projects are financed have increased dramatically. The institutions had opportunities to raise money for projects from EU in the past, but not in such an extent as nowadays. In the shortened programme period between 2004 and 2006, financial means allocated for Slovakia represented 105.3 million EUR. The preliminary surveys show that Slovakia has used only up to 25% of these resources. The financial allocation for Slovakia for the period from 2007 to 2013 for a cohesion policy represented 11 billion EUR and on June 30, 2015 only 73,87% was spent out of this allocation. For the programme period 2014 to 2020 Slovakia has for disposal 14 billion EUR.

Thus, there are a lot of financial resources at disposal. However, one has to understand that finances are only a means of problem-solving and fulfilment of the aims of development. Without the high-quality stakeholder analysis and problems analysis, it is not possible to set up the realistic projects objectives, which will lead to the improvement of the current situation and will contribute to local development. If we want to meaningfully and sensibly use the means provided by the Euro funds, the projects should be derived from actual needs and should be created in partnerships that are a guarantee of the project sustainability in the future. Otherwise, the finances allocated for the projects will not be used effectively, and despite all the work and effort made, the effect of a project will only be short-term.

The projects and their implementations represent a separate problem. To make fundraising of external resources effective, it is necessary to educate future project managers and others who will participate in the projects preparation and their consequent implementation. Nowadays, there are many courses where participants can learn the basics of project writing and management. However, it is important to put the acquired knowledge and information into practice.

It is becoming more and more common that the elaboration of project applications is assigned to firms that specialise in this area. However, there are advantages and disadvantages of tailor-made project elaborations, which need to be taken into consideration.

One should not forget that external workers may not know everything about the institution, municipality or a micro-region and their needs. Most importantly, they will not carry out the project themselves. In this case, the cooperation of a project bearer with an external company that can coordinate the project preparation process and provide professional consultations appears to be one of the solutions.