Intended for policymakers, administrators, and others involved in determining how the efficiency and effectiveness of technical and further education (TAFE) should be measured, this monograph contains the following sections: (1) "Introduction," including a explanation of the origins of the push for performance indicators and the response to it; (2) "A Case for Performance Indicators? Some Conceptual Issues," which discusses cost-effectiveness and the role of performance indicators; (3) "What Are Performance Indicators? Some Definitions," including the relationship between performance indicators and program evaluation and validation; (4) "Four Factors to be Considered in Developing Performance Indicators," which explains the political, financial, administrative, and educational factors; (5) "Some Performance Indicators," with examples of those that indicate effectiveness and those that indicate efficiency; (6) "Performance Indicators--Some Issues and Concerns"; and (7) "Some Conclusions." A list of 44 references concludes the document. (CML)