The theoretical difference between formative and summative assessment strategies is explored in this paper as well as the fact that on-line assessment is a new field of study with very little written about it.
Here are some insights into how Georgia Tech's Writing and Communication Program theorizes and practices assessment. They are certainly using some "trendy" approaches to assessment and evaluation; students have to compose a self-review essay, for example.
Summary from the Website: The Writing and Communication Program is interested in formative and summative assessment in individual classes and in the program as a whole. To create consistent assessment across the entire program, we use a common base rubric (which individual instructors modify to fit their assignments) and an end-of-semester portfolio system.