Part of the development of the Missouri River Basin, and completed in 1964, the dam is designed to provide flood control, irrigation, and power. The dam is a rolled-earth fill and reaches a height of 95 feet. The total output of hydroelectric power is 468,000 kilowatts. The 80-mile-long Lake Sharpe reservoir, with a shoreline of 200 miles, is noted for walleye fishing; 19 recreation areas located around the reservoir include campgrounds and day-use areas, as well as moderately-developed and primitive areas.
Hwy 47 crosses it near Fort Thompson. The powerhouse lobby offers exhibits and information. Free tours of the powerhouse are given from Memorial Day through Labor day.