The widely used van ’t Hoff linear relation for predicting the osmotic pressure of NaCl solutions may result in errors in the evaluation of key system parameters, which depend on osmotic pressure, in pressure-retarded osmosis and forward osmosis. In this paper, the linear van ’t Hoff approach is compared to the solutions using OLI Stream Analyzer, which gives the real osmotic pressure values. Various dilutions of NaCl solutions, including the lower solute concentrations typical of river water, are considered. Our results indicate that the disparity in the predicted osmotic pressure of the two considered methods can reach 30%, depending on the solute concentration, while that in the predicted power density can exceed over 50%. New experimental results are obtained for NanoH2O and Porifera membranes, and theoretical equations are also developed. Results show that discrepancies arise when using the van ’t Hoff equation, compared to the OLI method. At higher NaCl concentrations (C > 1.5 M), the deviation between the linear approach and the real values increases gradually, likely indicative of a larger error in van ’t Hoff predictions. The difference in structural parameter values predicted by the two evaluation methods is also significant; it can exceed the typical 50–70% range, depending on the operating conditions. We find that the external mass transfer coefficients should be considered in the evaluation of the structural parameter in order to avoid overestimating its value. Consequently, measured water flux and predicted structural parameter values from our own and literature measurements are recalculated with the OLI software to account for external mass transfer coefficients.