Help staff understand that project objectives pertaining to innovating, piloting, and testing are feasible and that projects with such objectives are rated appropriately, provided the project development objective and indicators are set in the right way (applies to World Bank and IFC and has implications for IEG).abc
Measuring and rating project outcomes at closing against objectives stated at design years earlier has become a source of tension and perceived rigidity, given that the quality assurance of results frameworks at the time of project design is insufficient and that the options of restructuring and adaptive project management have not taken root.
World Bank Management agrees with the need to promote a flexible and more "adaptive project management" approach in which course corrections occur as frequently as needed. In reforming the ICR, Management will discuss ways to tailor the evaluation of innovative or pilot projects for instance, by emphasizing the validity and relevance of lessons learned from the pilot rather than the measurable outcomes that the pilot had intended to achieve.
IFC Management welcomes the recommendation and appreciates IEG's having included itself as part of the solution to improve IFC's self-evaluation system. IFC continues to encourage operational teams to develop projects that innovate or pilot approaches and will further explore adjustments in guidelines and procedures to signal flexibility in setting targets and business plans.
IFC Action 2.1: Define âprojects with objectives that are innovating, piloting and testing (a new approach)â
IFC Action 2.2: Adapt IFCâs existing guidelines (such procedures as: Investment Operations-New Business, Approval Board Papers, XPSRs, PCRs and DOTS) as relevant to facilitate the projects defined in Action 2.1.
Actions on IFC pilot projects and the systems and procedures for their self-evaluation remain to be defined and implemented.
In FY17, IFC Corporate Strategy (CSSSP) identified the responsible parties for the necessary actions. IFC Management and staff will begin discussions this FY18 on how to implement this action based on the context of IFC 3.0.