At Central Connecticut State University (CCSU), mechanical engineering senior design course sequence requires completion of two-semester capstone design project. Senior Project I a research class prefaces and is intended to prepare students for Senior Project II the final design project. The focus of this paper is to share our experience in using the NASA sponsored Great Moonbuggy Race Program as a Capstone design project, and to show how to use such a comprehensive design experience as an assessment tool addressing most ABET Criterion 3 a-k program learning outcomes, and its impact on students long terms career objectives. The project is designed to imitate real-world workplace environment; students are divided into four different independent groups, namely, frame, transmission, steering, and suspension, all of which report to a project manager who oversees the execution plan and coordinates between the teams, and manages day-today operational aspects of the project and scope. The Moonbuggy vehicle must satisfy not only functionality and strength, but also a set of geometrical and physical constraints such as weight, size, number of passengers, and power source. Students' reflections and feedback demonstrate that this project is very suitable in offering graduating seniors unique opportunities to improve their analytical abilities, develop design, organizational, and project management skills, gain experience in working in multidisciplinary teams, solve cutting-edge engineering problems, and familiarize themselves with aerospace challenges. Numerous other skills acquired in this project, such as leadership, managerial and interpersonal skills, competition, mitigation of team conflicts and communication problems, are expected to have a positive impact and pave the way for a successful career as practicing engineers.