Project Management - Evaluation

Project Management - Evaluation: "Evaluation and appraisal are sometimes used interchangeably. This is for two reasons: (i) both mean assessment, and (ii) at-times they over-lap especially when we talk of ex-ante evaluation.
In fact, both are materially different as shown below:
Appraisal is the process of examining a proposal like setting-up of a fertilizer plant. It involves weighing up the costs and benefits, risks and uncertainties of putting up the plant before a decision is made."