A formative evaluation is a method for assessing the
value of a project while the project and its activities are being formed or in the process of being developed. It is usually conducted when a new project is being first developed or when an existing project is being modified. Summative Evaluation
A summative evaluation is a method of assessing the
value and effectiveness of a project at the end of the project activities (summation). The findings are used to help decide whether a project and its activities should be continued or modified for improvement. Process Evaluation
A process evaluation determines whether a project
and its activities have been implemented as intended. Outcome Evaluation
An outcome evaluation measures project effects on
the target audience by assessing the outcome (learning) objectives that the project was intended to achieve. Essentially, they determine what the participants were able to do as a result of the training. Impact Evaluation
An impact evaluation assesses a project effectiveness
in achieving its ultimate goals. They determine how well the project achieved its objectives, and how the results of the project affected the overall strategic goals. Essentially, these evaluations attempt to determine the direct impact the project had on the stakeholders performance. Economic Evaluation
Economic evaluation is used during the program’s
implementation and looks to measure the benefits of the programs against the costs. Doing so generates useful quantitative data that measures the efficiency of the program. This data is like an audit, and provides useful information to sponsors and backers who often want to see what benefits their money would bring to beneficiaries.