This report discusses the most recent developments in the Inter-American Development Bank (IDB, or the Bank) on measuring project performance. It has two objectives: to review the overall design of the new Project Completion Report (PCR) system for public sector operations and the Expanded Project Supervision Report (XPSR) systems for private sector operations, and to assess the most recent reports on project performance prepared by management. On the public sector side, the report reviews the 13 pilot PCRs prepared under the new guidelines and finalized by management in 2014. On the private sector side, the report presents the validation of the 2012 batch of XPSRs.