The Chilean Management Control andEvaluation System (Sistema de Evaluacion y Control deGestion) is internationally regarded as a successful exampleof how to put into place a monitoring and evaluation(M&E) system. Chilean M&E tools are the product ofboth cross-national lesson-drawing, and national policylearning experiences. The main M&E tools are centrallycoordinated by the Ministry of Finance's Budget Office(Direccion de Presupuestos, or DIPRES) and promote the useof M&E information in government decision-makingprocesses, particularly those related to the budget. TheseM&E tools have been, however, subject to a number ofcriticisms. As a result, the experience described in thisnote does not necessarily offer a model that can, or should,be easily transferred to other countries with differentinstitutional contexts. Furthermore, this note does notreflect the latest changes, nor does it try to offerguidance for the future. However, the Chilean experiencesummarized here, covering the period of 1994-2010, providesinteresting examples and highly relevant lessons about thebenefits and limitations of M&E design and implementation.