ongoing evaluation vs valuation

ongoing evaluation and valuation both are nouns.

Word	Noun	Adjective	Verb	Adverb
ongoing evaluation	Yes	No	No	No
valuation	Yes	No	No	No

As nouns, valuation is a hypernym of ongoing evaluation; that is, valuation is a word with a broader meaning than ongoing evaluation:

ongoing evaluation: An evaluation undertaken during the implementation phase of a project.
valuation: an appraisal of the value of something

Other hypernyms of ongoing evaluation include evaluation, rating.

ongoing evaluation (noun)	valuation (noun)
An evaluation undertaken during the implementation phase of a project.	an appraisal of the value of something
	assessed price