First of all, we need to think about what is the role of higher education? and what do we need to measure? E.g.: The impact on ecosystem: numbers of jobs created; sustainable projects; contracts with industry, ong...
Basically, the use of Performance excellence framework as applied to the Higher Education Sectors in US and Thailand can be a more objective framework to a very subjective issue of management and measurement of academic accomplishment and achievements on Higher education. Basically all academic and administrative processes are evaluated using the ADLI (Approach, deployment, Learning & Integration) whereas the KPIs and statistical results of performance is evaluated using the LeTCI (Level, Trend, Comparison & Integration). This can be applied to any types of Standards required of accreditation. For KPIs development and the the actual system using ADLI/LeTCI, please have a look at my manuals/papers/research in Research Gate.
It depends on the field of study and the specificity of the study's issues. Other quality research tools in higher education will be key in the fields of artistic studies, different for business, different for polytechnics, different for natural sciences, humanities, etc. Each study, taking into account the specificity of problems, issues, specializations, and improved skills, differ significantly. The only thing that can combine is the achievements of graduates in their professional work, in which graduates use the knowledge and skills they use to study. But this issue can often not be a universal measure of the quality of education if a significant part of graduates after graduation do not work in their learned professions, professions and specialties, but only undertake work completely unrelated to the completed field of study, even when they have completed a given field of study with good results. this is the case in some countries.