This article describes an ongoing project to build an evaluation framework for a competency‐based graduate program at The University of Southern Mississippi. Many traditional methods of evaluating performance at academic institutions provide only a partial assessment of individual program performance. In an increasingly competitive global economy, program evaluations should also consider the perspectives of students, graduates, and employers in order to develop curricula that will address the critical skills sets needed for strategic and value‐added performance improvement work in the 21st century.