Contribution: The authors present a methodology for assessing both novelty and systems thinking, as expressed in the same conceptual models constructed by graduate engineering students. Background: Companies worldwide seek employees with creativity and systems thinking, since solving design problems requires both skills. Novelty and usefulness are the most commonly accepted components of creativity, while systems thinking is the holistic understanding of systems. Research Question: How can novelty and systems thinking be assessed based on conceptual models (of technological systems) constructed by graduate engineering students? Methodology: Six student teams of two to four members each (N = 21) constructed solution models based on Object-Process Methodology, a formal methodology and language for model-based systems engineering. The authors assessed these models for novelty and for systems thinking using two existing rubrics based on the construction of system aspects--function, structure, and behavior. Findings: The authors provide indications that both novelty and systems thinking can be assessed based on conceptual models of technological systems.