Evaluation is one of the buzzwords of current day parlance in Irish policymaking circles. It is one of those words (like sustainable development a number of years ago) to which everyone claims allegiance, but few actually know how to define, let alone operationalise. More often than not the discussion rarely moves beyond the need to ensure transparency and probity in the allocation of public funds. What we set out in this paper are the key components of a framework for evaluation which seeks to provide an assessment of the impact of public sector interventions and, more importantly, arrive at some sense of how particular programmes and initiatives contribute wider economy effects.