The study was conducted at Dhaka Match Colony during October, 2017 to January, 2018 in order to explore the changes those occurred in the lives of its dwellers due to the intervention of ‘Child and Youth Initiative towards better Life in Slum (CYIBL) project. The study also documented the achievements, strategies, constraints and lessons learnt from this project. Moreover, the study aimed to provide an opinion to the extent to which the results of the project are sustainable and provide recommendations (if appropriate) on how the sustainability can be improved. Furthermore, the study identified the institutional capacity and gaps to minimize urban disaster risks particularly earthquake and fire. The study applied five evaluation criteria, namely Relevance, Effectiveness, Efficiency/Value for Money, Impact, and Sustainability to evaluate the objectives of the project. Findings of the study suggest that significant improvement have been occurred in the quality of lives of the Dhaka Match Colony dwellers. It has also been found that though the level of awareness has increased among the dwellers but the use of such knowledge is still rare in their real life. For instance, some of them still throw their waste into drains. Moreover, some constant threats, like waterlogging and fire incidence are making their lives more miserable. The study has found that separate intervention by multiple agencies is not enough to improve the living conditions and other problems of the urban poor. Thus, the study suggests a multi-faceted approach to solve the complex and interrelated problems experienced by the urban poor.