Mid-term evaluation of grant programmes always aims to assess the efficiency of programme implementation. An important aspect of assessing efficiency is the lead times of the application mechanisms. A detailed and objective analysis of lead times may set the scenes for an in-depth evaluation of the relevant entities in the application process in terms of capacity,competences or the process itself. The Bulgarian regional operational programme (OPRD) and the Maltese ESF operational programme (OPII) mid-term evaluations offer an opportunity to see application of this method on the ground with a view on results and comparisons. This article attempts to provide an overview on lead time analysis, being a simple but powerful tool for evaluation with great benefits and also great potential pitfalls in terms of use and interpretation.