Increasing demand for biotechnology and biomedical resources prompted the Engineering Library at the University of Colorado at Boulder (UCB) to complete a collection assessment of the journals, books, and other resources provided by the University Libraries. This paper presents a variety of methods for evaluating library collections and describes several online collection analysis tools that can facilitate the process. UCB's collection was compared to other university libraries and several bibliographic review sources. Various collection analysis tools including the "Journal Citation Reports Science Edition 2006," Ulrich's Serials Analysis System, and Spectra Dimension were used to evaluate the collection. This collection analysis fostered awareness of the resources that UCB already owned and informed the University Libraries about gaps in the existing collection. The findings led to the revision and expansion of the collection development policies for several subjects related to biotechnology. (Contains 3 tables and 2 figures.)