There is considerable uncertainty about what to evaluate in IS projects and how this might be undertaken. Recent attention to the value that projects add to organisations indicates that evaluation at project closure needs to move beyond simplistic measures of ‘on time and to budget’. This paper argues that formal evaluation is an important aspect of IS project management and describes the evaluation activities undertaken for a project to develop a prototype web-based portal. The paper contributes to IS project management in the following ways: it sets out key dimensions for evaluating IS projects, presents an evaluation framework constructed for the characteristics of the project, and provides details of the application of the evaluation framework.