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This paper aims to discuss the level of awareness and use of methods and techniques for evaluation of e-learning projects. Furthermore, it explores obstacles to wider use and attitudes of employees who are involved in the process of strategic decision-making related to e-learning in business settings. Preliminary analysis was conducted with employees that have particular interests and focus in e-learning. Based on the assessment, it is evident that companies in Croatia are still not sufficiently familiar with the techniques for evaluating their e-learning efforts and investments. Consequently, use of proper evaluation techniques is modest in terms of scope and variety. Relevant international research results emphasise the need to carry out multi-level evaluation and subsequent use of the evaluation results in (re-)forming e-learning strategies. Respecting the multi-level evaluation framework applicable to business settings, a question is raised: do the same methods and techniques fit to academic settings? In that line, mapping of the five-level evaluation model to e-learning in academia is presented as a starting point for future research.