PROJECT PLANNING AND ANALYSIS

Project Planning or Project Analysis in entrepreneurial economics was originally a mono-objective decision making process, for instance with the consideration of Net Present Value or Internal Rate of Return1. It is true, however, that this mono-objective process is linked to a lot of uncertainty factors such as future inflation, interest rates and exchange rates. Moreover, in a stakeholder society it is no longer a mono-objective decision making process. Indeed at that moment, a lot of objectives have to be fulfilled such as: employment levels, balance of payments equilibrium, import substitution and export promotion, tax revenues and of course also net present value and internal rate of return. When an industrial project is brought at the level of government, either for nationalized enterprises or for private firms subject to a state license for operation, to public loans or to subsidies, these objectives will even be more enforcedThe approach taken for water resources planning involves a number of terms and concepts related to planning, management and the role of systems analysis. These terms and concepts are commonly used in water resources planning, but with varying connotation