The work done by the Validation Panel that was commissioned by the Joint Committee on Standards for Educational Evaluation (Joint Committee) to monitor the development of "The Program Evaluation Standards: How To Assess Evaluations of Educational Programs" is described, and its conclusions summarized. This report focuses on the development process, the assumptions underlying the effort, and the applicability of the "Standards" in different contexts. Revision of the "Standards" had begun at the Joint Committee's 1990 meeting. An early decision was made to include a standard for meta-evaluation that required that the evaluation itself be formatively and summatively evaluated. True to this new standard, the Joint Committee commissioned a Validation Panel to perform that meta-evaluation function during the development of the revised "Standards." The developed "Standards" consist of 30 specific standards grouped into categories of utility, feasibility, propriety, and accuracy. Although no explicit statements of guiding assumptions are included in the "Standards," a number of implicit assumptions center on the need for educational program evaluation standards and the possibility of agreement about such standards. Representatives of the 15 organizations that comprise the Joint Committee considered the results of expert commentary, testimony at public hearings, and field tests in approving the development process. The position is taken that the development of the "Standards" was very systematic and open, and likely resulted in a set of standards that represent the state of the art in educational program evaluation. (Contains nine references.) (SLD)