This paper analyses the opinions of Portuguese university rectors and academics on the quality assessment system and its consequences at the institutional level. The results obtained show that university staff (rectors and academics, with more of the former than the latter) held optimistic views of the positive consequences of quality assessment for institutions. However, while rectors paid more attention to the results, coordinators were more centred on processes. Moreover, the institutional leadership paid more attention to internal procedures and services, strategic management and institutional management structures than to actual improvements in the student learning experience. (Contains 10 tables.)