Monitoring & Evaluation (M&E)

M&E objectives
Since its inception, the Office for Advisory Services in LAC has emphasized the importance of measuring the results and impact of its projects. To ensure the implementation of this priority, the office has established an M&E functional area fully dedicated to ensure the application of the M&E system.

The M&E system has been designed with the following main principles in mind:

• Integration: Engaging all office project staff throughout the entire M&E process
• Standardization: Applying a common approach through regional coordination with IFC SME Department

Through the M&E system, the office:

• Collects, compiles and analyzes key data to monitor and evaluate the projects’ progress and results on an on-going basis
• Enables program managers to gauge the effectiveness of their programs and to take strategic decisions more efficiently
• Responds pro-actively (in a timely and accurate manner and based on evidence) to information needs from internal and external stakeholders
• Identifies and disseminates positive and negative lessons learned and results (planned and unexpected) in terms of output, developmental outcome and impact achievements (including scalability and sustainability dimensions)
• Contributes to the alignment of technical assistance and investment in the region, enhancing the aggregate development impact.

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Project Cycle
The office’s M&E system is incorporated throughout the entire project cycle--planning/design, implementation and completion--and comprises a series of documents and reports that appropriately document each phase of a project.

At the planning/design stage, project documentation includes a description of the desired project’s results, specifying the project’s outputs, outcomes and impact indicators that can be tracked.
This documentation includes official IFC formats that will guide the process for the project’s approval.
These documents are:

1. The Technical Assistance and Advisory Services – Project Document System Approval (TAAS-PDS-Approval and Early Review) [pdf]: IFC internal stakeholders use these document to have a final positive recommendation for its initiation; and,
2. Indicators Matrix [pdf]: This document delineates a clear working plan that specifies how and when to collect, process, analyze and report M&E data.

During the implementation stage, the M&E team continuously collects and processes reports prepared by the consultants and Project Operating Officers (POFs) and coordinates meetings with various stakeholders to extract and analyze the project’s results, outcomes, impacts and lessons learned.
These reports include:

1. Consultant report - Implementation Project Progress Report (IPPR) [pdf]: This quarterly report emphasizes the lessons from the project implementing process; and,
2. POF report – Project Supervision Report [pdf]: This semi annual report supplies Program Managers and Country Program Coordinators with regular updates on the project’s progress. The report provides descriptive and analytical information on achievements, pitfalls, and lessons learned.

When the project is completed, the POFs, together with the M&E team compile the completion reports and process them in order to create useful and resourceful materials for external and internal audiences (staff and other stakeholders).
These reports include:

1. Project Completion Report (PCR) [pdf]: This report provides an assessment of the project’s effectiveness and work quality, with detailed analysis on outcomes and impact (based on the indicators collected during project implementation); and,
2. Extended Project Completion Report (XPCR): This report assesses those outcomes and impacts that could not be evaluated at the end of the project but only one (1) to three (3) years after its completion.

To read external evaluation reports on specific projects, please access the site areas for each pillar.