In this paper, the effectiveness of employing rubric as a self-assessment technique of the project method is investigated, which covers a wide range of knowledge, skills and abilities in a variety of learning objects and activities. The assessment rubric is defined as a descriptive rating guide, which consists of specific pre-defined performance criteria. It is an alternative assessment technique, which produces a valid evaluation through a process of determining attainment based on pre-defined qualitative classifications of specific criteria. In this study, the assessment rubric was used as a self-assessment technique in the implementation of a project entitled "Utopia and Reality", conducted in ASPETE (School of Pedagogical and Technological Education) during the year 2017-2018. The students of two undergraduate departments of ASPETE participated in the study. The analysis of the data revealed statistically significantly differences in the students' self-assessment levels (as identified by the rubric) with respect to the students' gender and the department of study. Moreover, the tool allowed the students to evaluate the end product of their efforts, thus allowing for their realizing the usefulness of the rubric as a self-assessment tool.