Methodologies for Preparation and Integrated Appraisal of Investment Projects in Ghana

Since 2015, significant progress has been made with the passage of key legislative reforms, including the Public Financial Management Act, 2016 (Act 921), the Public Private Partnership Act, 2020 (Act 1039), and the Public Financial Management (Public Investment Management) Regulations, 2020 (L.I. 2411). These reforms have laid a strong foundation for the principles and practices detailed in this guide.

Foremost, I would like to express my sincere gratitude to the management and dedicated team of officers at the Public Investment and Assets Division of the Ministry of Finance, who have worked tirelessly to bring this manual to fruition. I would also like to thank Prof. Edgardo Mimica, an international PIM expert, for his invaluable contributions at the beginning of our public investment management reform journey. Their expertise and commitment have been instrumental in shaping the insights presented here.

This manual provides comprehensive coverage from the initial stages of project conception to the details of integrated appraisal, giving a step-by-step guide to the preparation and appraisal of investment projects, from the identification of the project to the evaluation of its impacts. This work bridges the gap between academic knowledge and real-world application by incorporating both theoretical frameworks and practical insights. It is a valuable resource for project managers, government officials, and stakeholders involved in the implementation of public investment projects.

As someone deeply invested in ensuring efficient and prudent financial management, I am particularly excited about the potential impact of this manual. This guide encapsulates the wealth of knowledge and best practices that have emerged from our PIM reforms over the years. It offers practical insights and systematic approaches to project preparation and appraisal, aligning with international standards while being tailored to the unique context of Ghana.

I urge all readers to engage with the guidelines presented in this manual with an open mind to advance the preparation and appraisal of public investment projects in Ghana. Let us not only learn from the insights presented here but also use them as catalysts for meaningful action.

May this manual serve as a cornerstone for your professional development and a driving force for the successful realisation of investment projects that will propel Ghana towards a prosperous and sustainable future.

Thank you for joining us on this PIM journey. Together, let us strive to create a world where knowledge is not just a possession but also a force for engendering broad-based development.

God bless our homeland, Ghana, and make our nation great and strong.

Thank you.