From Aurora Borealis to Carpathians. Searching the Road to Regional and Rural Development

Figure 4 The cycle of Operations (PCM Guidelines 2004, p.16)

“This cycle highlights three main principles:

1. Decision making criteria and procedures are defined at each phase (including key information
requirements and quality assessment criteria);

2. The phases in the cycle are progressive - each phase should be completed for the next to be
tackled with success; and

3. New programming and project identification draws on the results of monitoring and evaluation as
part of a structured process of feedback and institutional learning” (PCM Guidelines 2004, p.16).

The cyclic nature of the operations it is two folded. It might occur in a smaller extent during the
lifetime of the project or it might encourage the occurrence of new projects and programmes. Each
phase of the cycle is associated with certain decisions as well as with the elaboration of necessary
documentation. The financing decision might occur in different phases of the project depending of
its “project like” or “programme like” approach. Briefly said, “Project Cycle Management is a term
used to describe the management activities and decision-making procedures used during the life-
cycle of a project (including key tasks, roles and responsibilities, key documents and decision
options). PCM helps to ensure that:

• projects are supportive of overarching policy objectives of the EC and of development partners;

• projects are relevant to an agreed strategy and to the real problems of target groups/beneficiaries;

• projects are feasible, meaning that objectives can be realistically achieved within the constraints of
the operating environment and capabilities of the implementing agencies; and

• benefits generated by projects are likely to be sustainable.

To support the achievement of these aims, PCM:

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