diff --git a/docs/source/getting_started.md b/docs/source/getting_started.md
index 4987268f..bfc5f246 100644
--- a/docs/source/getting_started.md
+++ b/docs/source/getting_started.md
@@ -103,12 +103,14 @@ ips:
 parameters:
   wb_ram_data_instance:
     depth: 0x1000
-    memfile: "top_sram.init"
+    memfile: '"top_sram.init"'
   wb_ram_instr_instance:
     depth: 0xA000
-    memfile: "bios.init"
+    memfile: '"bios.init"'
 ```
 
+Note that string parameters have to be wrapped in single quotation marks like this: `'"string value"'`.
+
 - Connect desired ports of the IP cores:
 
 ```yaml
diff --git a/examples/soc/project.yaml b/examples/soc/project.yaml
index f779631a..1059999c 100644
--- a/examples/soc/project.yaml
+++ b/examples/soc/project.yaml
@@ -22,7 +22,7 @@ design:
       depth: 0x1000
     wb_ram_instr:
       depth: 0xA000
-      memfile: "build/bios.init"
+      memfile: '"build/bios.init"'
   ports:
     wb_ram_data:
       sys_clk: clk100
diff --git a/tests/data/data_build/interconnect/project.yml b/tests/data/data_build/interconnect/project.yml
index 9351c441..fbd9074b 100644
--- a/tests/data/data_build/interconnect/project.yml
+++ b/tests/data/data_build/interconnect/project.yml
@@ -16,10 +16,10 @@ design:
   parameters:
     wb_ram_data:
       depth: 0x1000
-      memfile: "top_sram.init"
+      memfile: '"top_sram.init"'
     wb_ram_instr:
       depth: 0xA000
-      memfile: "top_rom.init"
+      memfile: '"top_rom.init"'
   ports:
     wb_ram_data:
       sys_clk: clk100
diff --git a/tests/tests_build/test_ip_wrapper.py b/tests/tests_build/test_ip_wrapper.py
index 9b946399..75d3d0a8 100644
--- a/tests/tests_build/test_ip_wrapper.py
+++ b/tests/tests_build/test_ip_wrapper.py
@@ -45,6 +45,16 @@ def axi_dispctrl_ipw_overriden(axi_dispctrl_name, axi_dispctrl_path) -> IPWrappe
     )
 
 
+@pytest.fixture
+def axi_dispctrl_ipw_custom_params(axi_dispctrl_name, axi_dispctrl_path) -> IPWrapper:
+    return IPWrapper(
+        axi_dispctrl_path,
+        axi_dispctrl_name,
+        axi_dispctrl_name,
+        {"EX_WIDTH": 8, "EVAL_WIDTH": "EX_WIDTH/2", "EX_STRING": '"STRING"'},
+    )
+
+
 # ----------------------------------------------------------------------------
 # Names of ports that should be created while initializing `IPWrapper` objects
 # ----------------------------------------------------------------------------
@@ -169,3 +179,10 @@ def test_get_port_by_interface(self, axi_dispctrl_ipw, axi_dispctrl_interfaces):
 
         with pytest.raises(ValueError):
             axi_dispctrl_ipw.get_ports_of_interface("non_existing_iface_name")
+
+    def test_params_evalutaion(self, axi_dispctrl_ipw_custom_params):
+        assert axi_dispctrl_ipw_custom_params._parameters == {
+            "p_EX_WIDTH": 8,
+            "p_EVAL_WIDTH": 4.0,
+            "p_EX_STRING": "STRING",
+        }
diff --git a/topwrap/ipwrapper.py b/topwrap/ipwrapper.py
index f6af7b3c..1b3a15ab 100644
--- a/topwrap/ipwrapper.py
+++ b/topwrap/ipwrapper.py
@@ -49,9 +49,10 @@ def _evaluate_parameters(params: dict):
                 params[name] = simple_eval(param, names=params)
             except Exception as e:
                 error(f"evaluating expression {name} failed with the following message: {str(e)}")
+                raise
 
 
-def _eval_bounds(bounds, params):
+def _eval_bounds(bounds, params: dict):
     """Replace parameter-dependent values with numbers"""
     result = bounds[:]
     for i, item in enumerate(bounds):