Manuscript assessment
A manuscript assessment is a read-through of a complete draft that produces a written editorial report on what is and is not working, without any markup of the text itself.
It also travels under other names: manuscript critique, editorial assessment, structural report. The editor reads the whole book in something close to the way a reader would, then writes a report — usually three to fifteen pages — covering premise, structure, pacing, character, voice, point of view, market position, and the two or three changes that would make the biggest difference.
The difference from a developmental edit is depth, not subject. An assessment diagnoses. A developmental edit diagnoses and works through the manuscript with in-text notes, often across more than one pass, staying with the book through the revision.
Because it is cheaper and faster, an assessment is usually the right first step when you do not yet know which you need — whether the draft is nearly there or wants rebuilding from the outline up. It is also a sane thing to buy before a round of querying, when the question is simply whether the book is ready.