Project level self-evaluation of IFC's investment and technical assistance and Advisory Services (TAAS) projects is at the heart of IEG's evaluation system and is based on frameworks developed jointly by IEG and IFC and approved by IFC’s Board. The systems used provide relevant, objective and consistent ratings of IFC’s operations.
Investment Operations:IFC’s evaluation system for investment operations is the standard setter among private sector-focused multilateral development banks. At the heart of this system are Expanded Project Supervision Reports (XPSR) which are prepared by IFC staff for a random, representative sample of IFC’s investment projects that have reached early operating maturity. IEG then independently validates the findings and ratings of each XPSR.
Training and Advisory Services (TAAS):Starting in late 2006, IEG began a systematic review of TAAS projects for which TAAS Project Completion Reports (TAAS-PCRs) have been produced. IEG’s methodology uses the same six dimensions and criteria that are used in TAAS-PCRs and adds ratings for work quality for IFC, consultants and partners.
IFC’s evaluation systems for investment and TAAS projects, validated by IEG, deliver accountability and stimulate learning. IEG also uses its methodologies for the many project level evaluations that it completes for its higher level evaluations such as its Independent Evaluation of IFC's Development Results and its sector, country, and thematic evaluations.