Book excerpt: Project appraisal is the process of assessing the viability of a project in a systemic way at its initial ‘idea’ stage when information is minimal, but the decision, whether to go ahead with the project, is important. This book deals with the principles and practice of such appraisal process. It covers all the financial and economic aspects, including market and technical analysis, environmental appraisal, life cycle costing and SWOT analysis. This book starts with the basics of the subject followed by analysis of the project proposals from different perspectives for ascertaining their viabilities, including a brief discussion on uncertainty and risk analysis, important tools, and techniques. This book covers projects in almost all domains, such as engineering, management, medical science and so forth. Focuses on all possible aspects of project appraisal and selection Emphasizes differences from public and private projects in terms of financial and economic evaluations Provides step-by-step methods of analysis of multiple issues involved in the initial appraisal of projects Includes sections on ‘lessons learned' and 'learning from experience’ illustrating applications of the process and implications Covers feasibility analysis, including both technical aspects and financial evaluation This book is aimed at professionals, graduate students in civil and industrial engineering, business management, project management, project appraisal, including entrepreneurs for their start-up projects. Utpal K. Ghosh is a Chartered Engineer, a Fellow of the Institution of Engineers (India), a Member of the Institution of Civil Engineers (UK) and a Member of the Institution of Structural Engineers (UK).