"Evaluation is a privileged tool for identifying the most effective and efficient ways of managing and fostering development assistance."
James D. Wolfensohn
Former President
World Bank

Overview
This section provides a definition and an overview of evaluation at the Bank. It outlines the principles applied to the Bank's independent and self-evaluation dimensions, IEG 's relationship with the Bank's Board of Executive Directors and the terms of reference for the Committee of Development Effectiveness (CODE)

Strategic Objectives
IEG 's strategic objectives are based on its overarching goal of enhancing development effectiveness through excellence and independence in evaluation. IEG 's strategic objectives include moving to a higher plane, shortening the feedback loop, building evaluation capacity, investing in knowledge and partnerships and managing for results. A discussion on each of these objectives is given.

Evaluation Tools
IEG 's evaluation tools used in promoting accountability and learning are Project Reviews, Country Assistance Evaluations, Sector and Thematic Reviews and Process Reviews. A brief description of each is provided.

Evaluation Approach
This section presents a brief discussion of IEG 's objectives-based evaluation approach. It offers the advantages of using this approach and provides the definitions of IEG 's performance rating criteria: outcome, sustainability, institutional development impact, and bank and borrower performance.

Impact Evaluations
Impact evaluation is the systematic identification of the effects positive or negative, intended or not on individual households, institutions, and the environment caused by a given development activity such as a program or project. It is a type of evaluation which has received increasing attention in recent years.