Work-based learning (WBL) is undertaken in a wide variety of higher education contexts and is increasingly viewed as a valuable, and increasingly essential, component of both the undergraduate and postgraduate student learning experience. However, the development of rigorous pedagogies to underpin WBL and its assessment is still embryonic. This paper presents a case study of how one medium sized institution, with experience of offering WBL for more than 20 years, has developed a pedagogical approach for both supporting and assessing WBL. The WBL model examined is based on the inter-relationship and inter-dependency between understanding learning, critical reflection and the identification and development of capability within a WBL context. The paper considers each of the three areas in relation to its individual contribution and most importantly, in relation to the WBL process, as a means of developing a framework for academic, personal and capability development within a workplace setting. Critical to this discussion is an analysis of the contribution of related pedagogic theory and the use of appropriate assessment approaches to support WBL and to enhance the student learning experience. (Contains 1 figure.)