Third Party Validation (TPV) is carried out to gauge the progress of a project with regard to its objectives and intended impact from an independent perspective. It helps to foresee the future of the project. TPV brings to light whether the value of money is being achieved or not. Good governance is not a luxury; it is a vital necessity not only for development but also survival. Keeping in view the basic economic problem i.e. scarcity, there is no way forward except to make the best use of scarce resources. Governments and organizations all over the world are grappling with internal and external demands and pressures for improvements and reforms in public management. Whether it calls for accountability and transparency, enhanced effectiveness of development programs or real results of political promises made, governments ought to be increasingly responsive to internal and external stakeholders to demonstrate tangible results. In short, TPV can help to an agency to find operational or execution flaws that are hampering the progress of a project, and avoid repetition of such failures. TPV is usually carried out during the gestation period of a project.