A team of teacher educators, preservice teachers, and host teachers collaborated to develop and pilot a performance-based assessment model in the form of multimedia portfolios as a means of providing tangible, authentic, qualitative data to document preservice teacher learning objectives and P-12 student outcomes and, at the same time, promote reflective and collaborative practice. In this study, two teacher educators collaborated with four pairs of preservice teachers (two in early childhood education and two in secondary education) and host teachers in a Georgia school system. Preservice teachers' emerging competencies in impacting student learning were assessed using Interstate New Teacher Assessment and Support Consortium (INTASC) performance standards and represented through selected data recorded onto compact discs. The use of technology with this process approach afforded an easily accessible and transferable product for the documentation of teacher education program effectiveness to local, state, and national agencies. An appendix contains the INTASC principles. (Contains 13 references.) (Author/SLD)