Nowadays, higher education institutions are dealing with some difficulties related to the performance evaluation proccess in the frame of the Competencies Educational Model (MEBC for its acronym in Spanish). This situation derives in the implementation of two actions: first, the design of an electronic tool for implementing an informed and systematic process as performance evaluation demands. The second, related to the inquiry into the students' perceptions about their performance appraisal process. From a phenomenological perspective, a study was conducted with 35 students in two graduate online courses. A systematic evaluation process resulted in delivering performance reports for each student. Twenty (20) of the students were interviewed after receiving their reports. After the analysis some categories emerged in three directions: the student as the center of the evaluation process, the role of the teacher as evaluator and the view of the performance evaluation process from the student's perspective. The most relevant findings turned around: teachers accompaniment during the learning process, personalization of assessment, the pointing out of opportunity areas, performance tracking and motivation to learn.