This paper is about developing a holistic framework for project evaluation; it is applied in a case study of an Algerian highway megaproject. This project has attracted the attention of all the local media and even many of the international media. Several media discussions on the project are limited to the completion of the project itself seen in a short-term perspective. In this regard, the discussions were notably associated with delays and expenditures coming in over budget, which is project efficiency signified by aspects such as time, cost and the scope. One reason that made the media focus only on these aspects is that they can easily be measured and are usually the first criteria against which the project can be assessed. The relevance of the project and its effects, whether it attains its goals and objectives measured in terms of effectiveness, including impact and sustainability – all these four measures can only be verified at a later stage, after the project has delivered its results. These are much broader aspects and are therefore difficult to measure. This paper is about developing an ex-post evaluation framework model. This is achieved by going through the different definitions of the measures of project success or failure and then reflecting on them with respect to the whole project life cycle by considering all the process groups in the project (i.e., conception phase, front-end analysis phase, planning and design phase, engineering phase, procurement phase, construction phase, closing phase and operating phase). This would provide us with a holistic way of evaluating projects.