The article presents results of an Erasmus+ project that aimed at suggesting a comprehensive performance indicator set for learning and teaching. Based on a benchlearning exercise among the six project universities, the article presents findings of an exploratory research on the assessment of the developed indicator set by members of four stakeholder groups (leadership, quality management staff, teachers, students). It emerges that learning and teaching quality should be assessed through a holistic approach, though some learning and teaching domains (competences and learning outcomes) appear more important for learning and teaching quality enhancement. Perception on the usefulness of the project’s performance indicator list varies considerably among different stakeholders, influenced by both external factors and consolidated internal practices. Moreover, findings highlight a modest awareness of how learning and teaching quality is assessed. The project results may be a diagnostic instrument or a strategic opportunity to complement existing institutional and national quality management systems in learning and teaching.