The issue of teacher shortages in Indonesia remains unresolved. The Pre-Service Teacher Professional Education Program (PPG-PJ), initiated by the Directorate General of Teachers and Education Personnel (Dirjen GTK), is one of the government's efforts to address the demand for qualified professional teachers. However, several studies indicate that the implementation of PPG-PJ requires further evaluation. This study aims to assess the effectiveness of PPG-PJ, particularly the contribution of Teaching Practicum (PPL 1 and PPL 2) courses in developing pedagogical and professional competencies. Employing an evaluation approach using the Return on Expectations (ROE) method, this study aligns its analysis with professional teacher qualification standards. Data were collected through pedagogical and professional competence tests, document analysis, observations, and interviews. The sample consisted of PPG-PJ students, mentor teachers, and field supervisors. The findings reveal that the contribution of PPL 1 and PPL 2 to enhancing pedagogical and professional competencies remains limited. Interviews identified several contributing factors, including (1) ineffective implementation, (2) miscommunication and insufficient guidance frequency, (3) lack of reflective practice, and (4) overlapping assignments. These findings highlight the need for improving the structure and execution of PPL courses to better support the development of professional teachers.