IS/IT projects are perceived as ventures which are prone to failure and may lead to disruptive conditions. Evaluating the
continuation of projects is highly important for stakeholders and decision makers. However, this event is hampered by the
problem of equivocality. The main objective of this study is to examine the equivocal situations and their causes in inducing the
ambiguity toward the projects next course of action. A theoretically grounded research model is constructed that postulates the
influence of content, context and process of evaluation on the extent of equivocal situations prevailed when evaluating IS/IT
projects. This paper describes development of the model and the measurements. By surveying knowledge professionals
experienced in IS/IT project management, the model is tested using Partial Least Squares (PLS). The paper presents a discussion
of the initial findings and conclusions.