The aim of the paper is to deeply explore how and why network analysis could become a valuable and complementary tool to evaluate cultural projects. Paragraph 2 presents a brief review of the main project evaluation approaches adopted by national and international organizations financing cultural projects and discuss their limits. In paragraph 3 we illustrate the methodology: we show at first how a cultural project can be represented as a network and, then, what network analysis can tell about the projects and their sustainability over time. Paragraph 4 reports the results of an empirical application to a cultural project implemented in Bosnia and Herzegovina under the support of the MDG Achievement Fund. Paragraph 5 concludes.