Operations Evaluation – Process and methodology
The thematic evaluations of EIB and EIF operations take approximately 12 to 16 months, a figure in line with other IFIs, and include:
- Analysis of the Bank’s relevant policies and strategies
- Analysis of the portfolio of relevant projects
- Interviews with relevant parties inside and outside the EIB group
- The specific evaluation of some individual operations
- Complementary studies or surveys, depending on the overall theme.
The process itself is regularly updated, taking into account the evolving activities of the EIB Group, new areas of analysis for EV and recommendations made from outside the organisation.
The criteria for evaluation of EIB operations are:
In addition to these project-based criteria, the EIB’s contributions are also assessed, notably what financial value added is brought about compared to alternatives, as well as how the Bank manages the project cycle from beginning to end and any other contribution that may have been made. This aspect of the evaluation is rated separately from the overall study, though it does form part of it. The Bank also uses its self-assessment to consider its own practices.
A process of consultation is carried out before EV reports (thematic and their component individual parts) are finalised. Recommendations are included in the reports, and EIB Management is bound to provide an official reply to these recommendations.
A detailed timeline of the phases of our thematic evaluations can be found here, and evaluation of projects normally takes place between 18 months and three years after completion, allowing for a wider overall view.
Operations Evaluation – rating scale
In accordance with the Evaluation Cooperation Group principles used by IFIs, operations are rated on a four level scale. These are 4 – excellent, 3 – satisfactory, 2 – partially unsatisfactory and 1 – unsatisfactory.
Further information about Operations Evaluation can be found in the EV Terms of Reference.