The system of education has undergone numerous transformations for centuries. Today, the emphasis of educational institutions is on quality. Though quality is an abstract term, a systematic assessment mechanism ensures effectiveness and helps in diagnosing the strengths and weaknesses of the teaching learning process. This paper provides a systematic framework for assessment that can be followed in institutions offering management education. The framework comprises of five steps that starts with establishing the programme learning goals and curriculum mapping. The execution phase of the assessment mechanism requires identification of appropriate assessment activities and its implementation followed by organizing and analyzing the assessment data. The final step of 'feedback and improvement' identifies tangible actions that are required to improve student learning.