are making and to help them improve programs. The information in this document is intended to guide the planning, design and conduct of microfinance impact assessments that are credible, useful, and cost effective. It is the outcome of a series of papers and virtual meetings held on behalf of the Consultative Group to Assist the Poorest (CGAP) Working Group on Impact Assessment Methodologies. The virtual meetings have involved donors, researchers, evaluation specialists and practitioners from around the world. The guidelines center on impact assessments (IAs) that can be used by microfinance providers, microfinance promoters, donors, and development policy makers to improve microfinance products and services, and justify investments in microfinance programs. In particular, the manual is designed to help managers develop an action plan or scope of work for an IA and assist those leading the assessment to think through the process. It is specifically geared to those who have limited experience with IAs of microfinance programs. As such, it hasan educational objective. At the same time, the guidelines provide a checklist of key steps that may be useful to the more experienced managers and researchers.