DOI: 10.2478/v10241-012-0023-5 Anass Bayaga* Emmanuel O. Adu ICT evaluation models and performance of medium and small enterprises ABSTRACT Building on prior research related to (1) impact of information communi- cation technology (ICT) and (2) operational risk management (ORM) in the context of medium and small enterprises (MSEs), the focus of this study was to investigate the relationship between (1) ICT operational risk management (ORM) and (2) performances of MSEs. To achieve the focus, the research inves- tigated evaluating models for understanding the value of ICT ORM in MSEs. Multiple regression, Repeated-Measures Analysis of Variance (RM-ANOVA) and Repeated-Measures Multivariate Analysis of Variance (RM-MANOVA) were performed. The findings of the distribution revealed that only one vari- able made a significant percentage contribution to the level of ICT operation in MSEs, the Payback method (β = 0.410, p < .000). It may thus be inferred that the Payback method is the prominent variable, explaining the variation in level of evaluation models affecting ICT adoption within MSEs. Conclusively, in answering the two questions (1) degree of variability explained and (2) predic- tors, the results revealed that the variable contributed approximately 88.4% of the variations in evaluation models affecting ICT adoption within MSEs. The * Correspondence regarding the paper should be sent to: Anass Bayaga, School of Continuing and General Education, University of Fort Hare, East London, South Africa, abayaga@ufh.ac.za, tel: +27 (0)43 704 7076, Emmanuel O. Adu, School of Continuing and General Education, University of Fort Hare, East London, South Africa, eadu@ufh.ac.za tel:+27 (0)43 704 7176