Highlighting the IFC's approach to monitoring, evaluation and learning
This case study is a part of a series published by CGAP to highlight important lessons and share innovative tools and approaches from specific organizations that can be replicated and used in other organizations. The role of monitoring, evaluation, and learning (MEL) as an integral part of IFC’s project design is analyzed in this study. The focus of the MEL component as used by IFC is to make sure that lessons learned from operations are harnessed to continuously inform project design. IFC is currently using a new approach to MEL that integrates an monitoring and evaluation (M&E) specialist as a key member of the program team who is engaged with clients from the onset. The specialist accompanies project teams on appraisal missions to look for research and evaluation opportunities. Results from using this approach include:
IFC now has a more comprehensive and attractive proposition to its clients, through better cooperation between operational and M&E staff;
Enhanced project documentation and more accurate project success ratings achieved through participation from M&E experts in client visits has also benefitted their increased operational and sector expertise;
More opportunities for staff development have arisen since the new approach has been adopted.