Foresight evaluation: lessons from project management

Purpose - The aim of this paper is to identify ways for improvement of the foresight evaluation framework on the basis of analysis and systematisation of accumulated experience in the field of project management. Design/methodology/approach - The paper is based on a detailed literature review devoted to an evaluation of foresight and traditional projects. The approaches to project evaluation in the field of project management were investigated, and the main steps of traditional project evaluation process were determined. The most commonly applied steps of foresight evaluation were identified by the analysis of recent foresight evaluation projects. The comparison of evaluation frameworks for foresight projects and traditional projects allows to provide recommendations for foresight evaluation framework improvement. Findings - The paper identifies several lessons for foresight evaluation from project management. The elements which can enrich foresight evaluation framework are the following: the development of an evaluation model; the extensive use of quantitative methods; the elaboration of evaluation scales; the inclusion of economic indicators into evaluation; and the provision of more openness and transparency for evaluation results. Originality/value - Given the importance of foresight evaluation procedures and the lack of a commonly applied methodological approach, the value of this paper consists in identifying a foresight evaluation framework and enriching it with elements of project management.