"the reality is that we now have choices for how we in higher education do final evaluations in courses. The tool is at hand to support an evaluation process that provides evidence behind the grade: the electronic portfolio (for more on electronic portfolios, see http://www.aaeebl.org). It is now possible to have a transcript with links from each grade to the work evidence behind the grade. Now, in response to the question, "but what does that grade mean?" there can be an answer."
