This report describes findings from the Chicago Public Schools (CPS) Professional Development Project, which was developed to inventory the alignment of dollars and professional development offerings to a set of professional development principles and district priorities; compare findings with other districts and best practices; articulate and implement a comprehensive district-wide professional development strategy that supported whole-school improvement goals; and create a shared understanding of professional development principles, district priorities, and challenges. Results indicate that the CPS lack standards for instructional quality, which hinders efforts to target support, measure progress, and create accountability. Contractual, non-student time negotiated for teachers represents a large investment and opportunity as a percentage of total spending on professional development. Spending on individual teachers and principals lacks a clear career development strategy and is not linked to an overall school improvement strategy. Spending on professional development for schools is not integrated into a comprehensive strategy for improving instruction. CPS functions without line accountability for implementing coherent school improvement programs and improving instructional quality. Results of school spending on professional development are unclear and highly variable. Recommendations for action are included. Four appendixes present working committees, description of professional development initiatives, school inventory, and framework for examining effective professional development. (SM)