Assessments, so to speak, seems to be the confluence where instruction, learning, feedback, and reporting all come together. With that in mind, no discussion on assessments--in particular the way assessments are used in a standards based learning environment--can be undertaken without a firm understanding of some foundational concepts. While what follows here is by no means the entire discussion on this matter, it should serve to present enough information to get people started.
In brief, you do not need to be an assessment or measurement expert in order to develop and utilize the right kinds of assessments and the most reliable types of assessment practices in standards based grading.
*These concepts are largely from Marzano, 2010, Formative Assessment and Standards-Based Grading
Keeping in mind the key concepts to assessments and assessing, as well as the idea of levels of learning and how to use scales to help identify levels of learning, we can take a very easy look at developing assessments.
Assessments in standards based learning and grading should seek to identify the level of learning or achievement of the student, not so much the number of correct or incorrect responses.
An obtrusive assessment may look like this: several questions or tasks that relate to the emerging level of a standard (identification, vocab), and then several questions or tasks that relate to a developing level of a standard (recognition), and then several questions or tasks that relate to a proficient level of a standard (analysis, synthesis), and perhaps a single question or task related to an advanced level of learning (evaluation, creation). This is how the GRE is organized, and the SAT and the ACT. It is not about how many you answer correctly, but more about the level of questions you were able to handle.
Think about it this way: A traditional math quiz with 10 questions, and a student gets 7 of the 10 correct...a C grade. Were all of the questions requiring the same processes and knowledge? Were some questions more difficult than others?
A valid assessment would have have various levels of questions relative to the various levels of learning in regards to the learning objective. Students would receive a formative score based on the level of understanding/learning/achievement they demonstrated. While many scenarios could arise here (a student who does not answer developing questions correctly, but nails the advanced questions...or only answers a portion of the questions correctly at a certain level), the idea that students should receive scores based on the demonstrated level of achievement is what is key here. Yes, there are solutions to the other scenarios, but it is important that one become comfortable with the concept first.