In a time of increasing digitalization, internationalization, and globalization, accompanied by corresponding adjustments and transformations, a central Higher Education (HE) objective is to prepare students for the professional world effectively. This is achieved through the continuous development of students’ competencies. To facilitate this ongoing process, there is a need to streamline the assessment of key competencies in academic courses. This paper addresses this by conducting a systematic literature review (SLR) and subsequent expert interviews to comprehensively document and systematically analyze the methods and instruments employed in assessing students’ key competencies in HE. This systematic analysis serves as a valuable decision-making aid and a source of inspiration for educators seeking to integrate competency-specific methods and instruments into their courses. Additionally, differences and parallels between theoretical literature and practical application are highlighted.