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After the budgets are formed, the research must be valuated. ‘There is a great deal of
interplay between budgeting and value assessment in any management decision to conduct
research’ (Cooper & Schindler, 2014:81). The results of the research must be in line with the
costs that an organization will make in order to perform the research. The different methods
of evaluation are ex-post facto evaluation, prior/interim evaluation, option analysis and
decision theory (Cooper & Schindler, 2014:81).
When the preliminary steps are formed, the research proposal can be made. ‘The written
proposal ensures that the parties concur on the project’s purpose, the proposed methods of
investigation, the extent of analysis, and the timing of each phase as well as of delivery of
results’. (Cooper & Schindler, 2014:82). So this proposal is basically a sort op contract with
basic rules. In some cases an oral proposal is also sufficient. This may be the case, when
the research will be executed internally for instance.
‘Another step in planning the research project is to identify the target population’ (Cooper &
Schindler, 2014:84). This population are the people, events or records that the research is
about. The sample is a part of this population. The sample represents the target population.
For instance, the target population is all the people from The Netherlands and the sample
are a selective group op dutch people. ‘A sample examines a portion of the target
population, and the portion must be carefully selected to represent that population’ (Cooper
& Schindler, 2014:84).
This is the actual execution of the data collection method, chosen in stage 3. ‘The method
selected will largely determine how the data are collected’ (Cooper and Schindler, 2014:85).