This study aims at improving the evaluation system of regional development projects. The evaluation system should be geared with the quality of regional policy. But existed evaluation system cannot cover all the spectra of regional development projects, from the policy formation to the finishing stage of regional development projects, because the evaluation criteria tend to be focused on the results or achievements only. In this situation, the existed system fails to verify the necessity or validity of regional development projects, causing hyper-investment in regional development projects. For this purpose, this paper suggests to extend the existed evaluation system to the triad evaluation system consisting of three models such as the evaluation model for the initiatives, the model for the results or achievements, and the model for the management of planning or policy formation. The evaluation model for the initiatives of regional development projects includes 3 criteria such as verifying the necessity of project, defining stakeholder, and distinguishing the public sector from the private sector. The results or achievements of regional development projects in this paper are defined from governance point of view, and social capital point of view. Therefore, the evaluation model for the results or achievements includes 4 criteria from governance point of view, and 5 criteria such as trust, participation, networks, social norm or institution capacity and altruism. And the last, the evaluation model for the management of planning or policy formation includes 2 areas, substantial and procedural area respectively. In this model, the substantial area has 5 criteria such as targets, regional survey, priority order of projects, defining variables related with the project, and the distribution of spatial functions. The procedural area in this model has 8 criteria such as identifying regional problems, setting up goals and objectives, predicting the future situation, forming and comparing alternatives to the goals, implementing the project, evaluating the results or achievements, satisfying the due process of laws, and citizen"s participation.