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Many would agree that there are two fundamental functions for evaluation. On the one hand, there is the accountability function—the main driver of technocratic approaches favored by public sector governance and bi- or multilateral aid agencies (Chouinard, 2013). On the other hand, is the learning function, which has appeal to a much broader range of stakeholders (Dahler-Larsen, 2009; Preskill, 2008; Preskill & Torres, 2000). Arguably, another consideration is the transformational function of evaluation (Cousins, Hay, & Chouinard, 2015; Mertens, 2009), which seems particularly relevant to CAE considerations as we elaborate below. We argue that CAE is most suited to evaluation contexts where learning and/or transformational concerns are paramount, although some aspects of accountability are implicated as well.