This paper analyses two aspects of developing formative assessment processes within universities in Spain: the academic performance of the students and the workload that formative assessment creates for both academic staff and students. It presents the results of 10 research projects covering the first semester of the 2007-08 academic year, mainly involving teacher education degrees. The research was undertaken to understand the impact on Spanish universities of introducing more formative assessment as part of moving towards greater convergence as envisaged by the Bologna process and addressing the concerns of tutors on an increase in workload. The research highlights: (a) the positive impact that formative assessment has on student engagement and performance; (b) the reduction in student failures and withdrawals; and (c) the disparity between the subjective views of students and tutors regarding the workload created by using more formative assessment. The final analysis suggests that it is true that moving from the traditional assessment methods to include more formative assessment does increase student and tutor workload, but not to the degree that students and staff might perceive. (Contains 6 tables.)