What do we call the action of forming judgments or opinions based on a set of criteria?

The action of forming judgments or opinions based on a set of criteria is best defined as evaluation. Evaluation involves a systematic determination of a subject's merit, significance, and worth, which is typically based on established criteria. This process allows for a nuanced understanding of the subject matter, taking into account various factors and standards that guide the judgment.

In contrast, examination generally refers to the act of inspecting or investigating details closely, often without necessarily forming judgments based on criteria. Assessment, while somewhat similar, more often implies measuring or appraising a specific aspect, such as knowledge or performance, and does not always convey the same depth of judgment as evaluation. Analysis is focused on breaking down information into parts to understand it better but does not inherently include forming an opinion or judgment based on those parts. Therefore, evaluation is the most accurate term for the process described in the question.