In the United States, colleges of education are responding to demands for increased accountability. The purpose of this article is to describe one teacher education program's implementation of a performance evaluation tool during final internship that measures teacher candidates' development across four domains: Planning and Preparation, Instruction and Management, Assessment, and Personal and Professional Development. Researchers examined data collected via midpoint and final internship evaluations across three program tracks using a measure created by the authors entitled the Profile for Evaluation of Intern (PEI). Although this measure is still in its preliminary phases, data analyses indicated positive, statistically significant differences across three tracks on 16 criteria on the performance evaluation tool and on candidates' overall "grand" averages at the midpoint evaluation; however, no statistically significant differences remained at the final evaluation point. Benefits and challenges involved in employing a performance evaluation tool in teacher preparation are discussed. Implications for teacher educators, including recommendations for programmatic design and suggestions for how such tools inform program development and the field of teacher education, are discussed.