Curriculum reform programs have been central to European Commission’s TEMPUS and ERASMUS programs. Although assessment of the courses was included in these programs, none offered to develop relevant innovative tools and methods to evaluate these new innovative student-centered courses. Moreover with relation to the formative assessment (FA) essential tenet needed in these environments, these projects have pointed to a growing need to deepen the knowledge of faculty regarding the optimal design and implementation of assessment in general and FA in particular. The ASSET consortium provides the knowledge and pedagogical expertise aimed at developing and piloting creative and innovative course assessment tools (CATs) and methods adapted to the learning environments in use, and improving the effectiveness of teaching and learning within the IL and GE HE system, thus, bridging the gap between current educational goals of teaching and learning, and assessment processes for the 21st century. The proposed ASSET project will develop IL and GE faculty skills in planning, preparing, producing, and integrating CATs in their courses including ICT-based virtual environments, by organizing training workshops for professional development, providing an ongoing support to further the sustainability of FA implementation, and disseminate the set CATs in their HEIs and beyond. The development of CATs will allow partner HEIs evaluating students' lifelong learning (LLL) skills, both in personal and social levels. Moreover, ASSET proposal is of relevance to the labor market and certainly offers flexibility when taking into account issues of lifelong learning, non-traditional learning, and other forms of nonformal educational experiences, in contrast to the SA approach. The project will raise the quality and relevance of the teaching/learning experience and thus education at large, in line with the student-centered approach that lies at the core of the Bologna process.