Effectiveness and efficacy evaluation exercises for the management of threatened species are scarce. There are methodological limitations and agency capabilities to carry out these efforts, especially in governments. Thus, analyses on the effectiveness and impacts of government threatened species recovery programs are hardly applied in adaptive management practice. In this chapter, we present the design and application of a participatory evaluation methodology for the management of threatened species. The evaluation exercise was conducted in a workshop with members of a national species recovery team. The results support the estimation of the objectives and goals that have been met or show some degree of progress. Each of the management actions is analyzed, and the progress and challenges in the implementation of the recovery plan are discussed. The results of the evaluation provide elements that can help adaptive management processes and inform the redesign of strategies and decision-making among the government and social actors involved in these initiatives.