The evaluation of projects has two separate aspects:
1. Evaluation of Performance
The evaluation of performance in executing the project has two aspects: (1) an evaluation of project management, and (2) an evaluation of the process of managing the project.
2.Evaluation of Results
The success of a project cannot be evaluated until enough time has elapsed to permit measurement of its actual benefits and costs. This may take years. Unless the impact can be specifically measured, such an evaluation may not be worthwhile.