Although outcomes assessment (OA) has become "common sense" in higher education, this article shows that the concept of "outcomes" tends to limit and compromise teaching and learning while serving the interests of institutional management. By contrast, the pragmatic concept of consequences tends to expand our view of teaching and learning, and contests the technical rationality of the managerial university. Though I challenge outcomes assessment, I recognize that OA is the coin of the educational realm. Therefore, this article outlines ways to frame and use educational aims to minimize the negative tendencies of outcomes assessment and to maximize the positive tendencies of "consequential assessment." (Contains 9 notes.)