In order to evaluate the validity of outcomes assessment at two-year colleges, the American College Testing (ACT) Program developed "Project Cooperation." Institutions participating in the project administered tests and surveys to measure changes in students' cognitive abilities over time and record student feedback, and reported the data along with curricula and student transcript information to ACT. In addition, ACT developed an achievement index and a planning/test content form to help institutions develop the best research design and match course objectives with test objectives. To measure cognitive outcomes, 78 colleges applied the Collegiate Assessment of Academic Proficiency (CAAP) test to freshmen in 1989 and 1990 and again to the same students in 1992. To gather student feedback, 72 participating institutions administered the College Outcomes Survey (COS) in spring 1992. The COS includes sections on student background, college outcomes or goals, student evaluation of the importance of each outcome/goal, student progress in all areas, and student satisfaction. While many institutions failed to achieve the minimum number of 100 matched records of students' cognitive outcomes and transcripts, results of the assessment of student feedback included the following: (1) acquiring knowledge and skills in an area of specialization ranked as the highest goal and as the area of most progress; (2) students responded positively towards colleges' general education programs; and (3) the areas of highest satisfaction were class size and response to older and nontraditional students. Extensive appendixes provide the CAAP planning form, principles for use of the CAAP in outcomes assessment, the COS, and the full Project Cooperation Community College Composite of the College Outcome Survey Report. (MAB)