Review of the Project Completion Reporting System for Sovereign Guarantee Operations
The IDB has made important investments in results measurement and reporting mechanism over the past few years. Although significant improvements have taken place, IDB's main mechanism for reporting on project-level results, the Project Completion Report (PCR), needs to improve. The limited usefulness of PCRs, issues with the PCR template, and limited guidance to PCR authors have contributed to poor quality PCRs. Lack of clarity in the resources available and weak staff incentives to produce good quality reports are also probable causes of poor quality PCRs. Lack of a systematic validation of PCR results might have contributed to the poor incentive structure. In light of the findings, the IDB is advised to improve the PCR system by: (a) revising the current template to better harmonize with the newly updated Development Effectiveness Framework (DEF) and the Evaluation Cooperation Group-Good Practice Standards (ECG-GPS) and adopting the new template by January 2013, (b) strengthening the PCR production process and staff incentives, and (c) using a separate budget code and ensuring adequate funding for PCRs.