Addressing current environmental, social, health, and democratic challenges requires projects and evaluations to be conceptualized differently. This article proposes a pathway to creating rapid impact assessment tools that consider the dimensions that matter the most to ensure positive impacts for a thriving future. This work is based on three premises for evaluation practice, which needs to: contribute to a positive ecosystem, adopt a holistic perspective, and engage participants in deliberative and democratic practices. We first review related evaluation approaches—health impact and environmental impact assessments—to learn from these experiences and avoid their pitfalls. Second, we present and illustrate how the Planetary Health Rapid Impact Assessment tools can be developed and used. This article, is intended to inspire and support policymakers, program designers, decision-makers, administrators, and evaluators willing to positively influence planetary health and introduce such tools in their projects.