Abstract:
The report assesses costs involved in three stages of the San Miguel Bay (SMB) project. Direct project costs, defined as the direct expenses needed to carry out the SMB-CRM (Community Resource Management) activities were obtained from available records; transactions costs were estimated as the value of time spent in planning, follow-up and monitoring activities. For the people's organisations, the estimated value of time was based on the expected net income from fishing. For the other parties, it was based on actual wages. Transactions costs shouldered by people's organizations during the implementation phase were dominated by the value of time in coordinating, motivating and follow-up activities.
