This book analyzes and discusses what is currently known about the benefits and costs of assessment programs for institutions of higher education. It is designed to provide a framework that can be applied by both institutional and state-level academic administrators as they consider which kinds of assessment approaches best fit their own needs and conditions. Chapters are as follows: (1) "Assessment in Higher Education: Some Background"; (2) "Some Caveats on Estimating the Costs and Benefits of Assessment"; (3) "Identifying Benefits, Costs, and Parties-at-Interest"; (4) "Applying the Framework to Some Policy Choices"; and (5) "Conclusion". Contains 45 references. (GLR)