A policy-making process should involve data-informed and evidence-driven analytics that support sound policy decisions. A sound policy can be designed and launched, but assessing and evaluating whether it would be successful or effective in practice is another matter. Traditionally, to assess the policy impact, qualitative measurement instruments are used for collecting data. In this paper, we present a policy transparency and real-time policy assessment framework that can not only enhance the transparency of policy information to inform the policymakers and citizens, but also help evaluate the impact of policies on citizens. The continuous policy impact assessment needs citizens' voices, perceptions and "reactions"related to public policies. We discuss the design requirements for policy transparency and real-time policy assessment, ranging from data collection for policy assessment to insights and decision-making support with data analytics. We also discuss the challenges posed by this policy assessment framework. The proposed framework is shown feasible with a working pilot system developed for real-time policy assessment of COVID-19 health policies. Real-time insights about each policy impact on citizens can support the dynamic planning of policy implementations or the dynamic correction of the current policy, thus, contributing to more responsive and trustworthy governments and smart cities.