evaluation
A careful judgment of how good or useful something is.
An evaluation is a careful examination of something to figure out how good it is, how well it works, or what it's worth. When your teacher gives you an evaluation of your essay, she's judging the quality of your arguments, checking your grammar, and determining what grade it deserves. When a coach evaluates a player's performance, he watches closely to assess strengths and weaknesses.
The word comes from determining the value of something, but it means more than just price. A doctor evaluates a patient's symptoms to diagnose what's wrong. A scientist evaluates experimental results to see if her hypothesis was correct. Schools conduct evaluations of their programs to determine what's working and what needs improvement.
An evaluation usually involves specific criteria or standards. If you're evaluating which book to read next, you might consider the genre, length, and difficulty level. If a company evaluates job candidates, they look at experience, skills, and how well each person would fit the role.
The verb form is evaluate. When you evaluate your options before making a decision, you're thinking through the pros and cons systematically. Good evaluation requires both careful observation and fair judgment.