A laboratory pedagogy interweaving weekly student portfolios with onsite formative electronic laboratory assessments (ELAs) is developed and assessed within the laboratory component of a required core course of the electrical and computer engineering (ECE) undergraduate curriculum. The approach acts to promote student outcomes, and neutralize academic integrity violations, while refocusing instructor and teaching assistant roles toward high-gain instructional activities, such as personalized student tutoring. A mixed-method study evaluated the learning effectiveness and student satisfaction using biweekly ELAs versus traditional laboratory reports in a large-enrollment (N = 68) undergraduate computer engineering laboratory course. The results of the evaluation indicate statistically significant effects on both learning outcomes and student satisfaction from the use of formative assessments in laboratory delivery, which were corroborated by the instructor's reflections. Students in the ELA with tutoring enabled delivery cohort performed better on the post-test and were more satisfied with the laboratory assessment design and assistance received in laboratory than those in the control cohort. The findings offer a promising alternative for ECE and engineering laboratory instruction that fosters gains in practical skills and content mastery.