New features of the 2001 Results-Oriented Annual Report (ROAR) include a refined strategic results framework and an initial performance-based budgeting framework. Overall, the analyses of performance show that 2001 was a year of consolidation and deepening of previous gains, resulting not necessarily in significant increases in output attainments but in improved quality of both project management and output. The 2011 ROAR also notes the formalization of partnership arrangements with UNDP in Microfinance, and the excellent reviews on UNCDF work from external evaluations.