Evaluating a reference model is a demanding task. Not only that reference models inherit the problems well known from the evaluation of conceptual models in general. Furthermore, their claim for general (re-) usability implies to take into account the possible variety of requirements and specific constraints within the set of potential applications. This chapter presents a method that is aimed at fostering a differentiated and balanced judgement of reference models. For this purpose, it takes into account various perspectives - among others an economic, an engineering and an epistemological perspective. It also includes a process model that demonstrates how to organize a specific evaluation project.