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.