This document discusses portfolios as an assessment approach for students' learning process. A portfolio involves collecting indicators that assess students' work and results over time, such as notes and documents. The key components of a portfolio assessment are scoring guides, rubrics, and analytic or holistic scoring. Portfolios allow students to be creative, see their own development, and take responsibility for their learning. They provide a new assessment paradigm and involve parents and communities. However, portfolios also require more time than traditional tests and focus on results rather than processes.