INTRODUCTION“Are we investing in the right project?” is a fundamental question raised by the public regarding new investments. This refers to various types of projects, such as education, community development and social welfare, etc. This study is limited to addressing concerns related to transportation infrastructure development projects. Currently, Sri Lanka is investing heavily in transportation infrastructure development projects. 93% of development activities (equal to 31% of the total budget) are spent on transport-related investments (Department of National Budget; Ministry of Finance and Planning, 2013). This is not limited to large-scale projects such as the development of transport terminals, the construction of expressways, but also rather small projects such as the improvement of rural access roads. While some groups are supportive of these investment decisions, others continually question the effectiveness of such investments (Jyakody, 2014; Pothmulla, 2014) and insist on more careful consideration of environmental and social impacts (Mudugamuwa, 2014). of an adequate evaluation methodology to evaluate the impacts of such infrastructure development, such questions have remained unanswered or ignored due to the lack of evidence to demonstrate what actually happened with such investments. Some protections fail to achieve expected results due to changes made in later stages due to social pressure. If proper attention was paid to these aspects in the initial stages and necessary corrective actions were taken, the expected results could easily be achieved. This policy dialogue has highlighted the need to evaluate current evaluation practices. Therefore this study examines both the academic and gray literature on transport project evaluation to identify… halfway through the paper… a Development Fund. (2014). Senegal - Transport sector support project 1: rehabilitation of the Dinguiraye-Nioro-Keur-Ayib road. Tunis Belvédère, Tunisia: African Development Fund. Department of Transport and ICT African Development Fund. (2014). Swaziland - Motorway project from Manzini to Mbadlane (MR3). Tunis Belvédère, Tunisia: African Development Fund. National Academics Transportation Research Council. (2014). Transportation investments in response to economic downturns; Special Report 312. Washington DC: Transport Research Board.Van de Walle, D. (2002). Choose investments in rural roads to help reduce poverty. World Development, 30 (4), 575–589.Van de Walle, D. (2009). Impact assessment of rural road projects. Journal of Development Effectiveness, 1 (1), 15-36. World Bank. (2014). Sri Lanka - Strategic Cities Development Project. Washington DC: World Bank Group.