The study compared the Outcome Measures (OM) to the traditional Graduation Rates (GR) to ascertain if OM portrayed the performance of higher education institutions differently than GR and to determine which of the two metrics aligned better with accountability policy objectives. GR refers to the percentages of first-time, full-time students who obtain a degree or certificate within 150% of the normal time. OM presents the award status of all degree/certificate-seeking undergraduate students on four cohorts: first-time, full-time (FTFT); first-time, part-time (FTPT); non-first-time, full-time (NFTFT); and non-first-time, part-time (NFTPT). OM was a more comprehensive indicator than GR, particularly for 2-year institutions, as OM tracked six times more 2-year students and twice as many 4-year students. OM revealed that when part-time students and transfer students were included in reporting and when institutions were given more time, higher education institutions performed significantly better than GR portrayed. The significant difference in completion rates among OM cohorts suggests that the attendance level (full-time and part-time) and prior postsecondary experience (first-time and non-first-time) are strong predictors of student success and that the disaggregated data provide actionable feedback to policymakers and administrators. GR and OM exhibited a weak to moderate correlation in FTPT and NFTPT cohorts, suggesting that GR is not an adequate output indicator for institutions with a large part-time student population, i.e., 2-year institutions and 4- year for-profit institutions. IPEDS should consider combining Graduation Rates (GR), 200% Graduation Rates (GR 200), and Outcome Measures (OM) into one survey component to make the outcomes data more comprehensive while alleviating data collection burden and minimizing confusion. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]