Formative Assessment
The goal of formative assessment is to monitor student learning to provide ongoing feedback that can be used by instructors to improve their teaching and by students to improve their learning. More specifically, formative assessments (What Is the Difference Between Formative and Summative Assessment?, n.d.):
help students identify their strengths and weaknesses and target areas that need work
help faculty recognize where students are struggling and address problems immediately
Formative assessment promotes the goals of lifelong learning, including higher levels of student achievement, greater equity of student outcomes, and improved learning to learn skills (“Assessment for Learning Formative Assessment,” 2008, p. 2). Learning how to learn is one of the most important skills anyone can have. 
Here are six elements of formative assessment (“Assessment for Learning Formative Assessment,” 2008, p. 7-10):
Element 1: Establishment of a classroom culture that encourages interaction and the use of assessment tools
Element 2: Establishment of learning goals, and tracking of individual student progress toward those goals
Element 3: Use of varied instruction methods to meet diverse student needs
Element 4: Use of varied approaches to assessing student understanding
Element 5: Feedback on student performance and adaptation of instruction to meet identified needs
Element 6: Active involvement of students in the learning process
Similar to continuous assessment, formative assessment focuses on setting goals, getting out there and experimenting on the lesson, analyzing the results, getting feedback, then setting new learning goals based on what the students have learned.

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