According to Wikipedia, the M&E is separated into two distinguished categories: evaluation and monitoring. An evaluation is a systematic and objective examination concerning the relevance, effectiveness, efficiency and impact of activities in the light of specified objectives. The idea in evaluating projects is to isolate errors not to repeat them and to underline and promote the successful mechanisms for current and future projects.
An important goal of evaluation is to provide recommendations and lessons to the project managers and implementation teams that have worked on the projects and for the ones that will implement and work on similar projects.
Evaluations are also indirectly a means to report to the donor about the activities implemented. It is a means to verify that the donated funds are being well managed and transparently spent. The evaluators are supposed to check and analyze the budget lines and to report the findings in their work.