Assessment is always considered a key component in the process of teaching and learning. A major role is being played by ICT in making the process of assessment easy for teachers. As the use of ICT is increasing, the assessment is made now in a new and innovative manner. While employing ICT in assessment, the recording of responses and providing necessary feedback is likely to grow as virtual learning environments is growing day by day. Not only this the students are being empowered to make use of online or web-based assessments which in return help the students to do self-assessment of their learning. This paper is in support of applying ICT in conducting assessment for students. The paper analyses the concept of assessment with its types and explores various technological tools which will empower the teachers to make assessment much more effective in a class room situation.