The document discusses the definition and purpose of evaluation. Evaluation is defined as a time-bound assessment that objectively assesses the relevance, performance, success and effectiveness of ongoing or completed projects and programs. The purpose of evaluation is to provide information to make decisions about a project's future, assess its impact, and improve its functioning. Evaluation can occur during implementation to improve performance, or after completion to assess outcomes. Formative evaluation occurs during implementation, while summative evaluation occurs after completion to judge the overall success.