With the quick expansion of colleges of technology in Taiwan, the educational quality and achievements among those colleges have become a major concern. The purpose of this research was to develop weighted performance indicators for those colleges to improve their performance. The methods include literature review, documental analysis, panel discussion, and questionnaire survey through quantitative and qualitative process. This research study filtered 134 performance indicators from nine types with totally 316 items of performance indicators collected from various sources. These 134 indicators were proposed to the panel for in-depth discussions and refinements. The questionnaires were then sent to 53 individual presidents of these colleges and 57 leading members of the assessment committee of Ministry of Education in Taiwan. Eighty effective questionnaires were returned reaching a 72.7% returning rate with the reliability of Cronbach α=0.9819. These collected data were analyzed by means of t test and chi-square test. The results from the statistical findings were further discussed in panel discussion to strengthen the quality of their interpretations. Consequently, the following conclusions were made: (1) The performance indicators for colleges of technology can be divided into three aspects including student performance, teaching and teacher achievements, and school management, as well as be constructed into 10 groups, and 62 items. (2) No significant differences were found in the importance of performance indicators in terms of professional category, affiliation, location, and category being evaluated for colleges of technology. (3) Twenty-five key performance indicators were screened out for colleges of technology.