Quality assessment in higher education needs to drive learning to produce graduates with disciplinary knowledge and employable skills. Performance-based funding requires universities to focus on graduate outcomes and future employment status. Research was conducted to investigate how program-level assessment planning is occurring within Australian universities, to determine academics understanding what aspects they consider and the assessment practice they identify as essential at the program-planning level. Constructivist grounded theory underpins the methodological approach and 18 academics were interviewed. Participants included Associate Deans and Program Directors (or equivalent roles) from seven Australian universities, in the accredited disciplines of dietetics and physiotherapy and non-accredited degrees in biomedical science and science. The results indicate that academics consider a myriad of factors including policies, curriculum, skills, and accreditation. Assessment practices identified as essential incorporate constructive alignment, a range of assessment tasks, authentic, and continuous assessments. The goal of program-level assessment planning is to holistically sequence assessment tasks to enhance students’ employability, so they become successful graduates and secure employment, which enables universities to acquire future funding.