Group-based assessments have been recognized as one of the ways of developing work-ready attributes in project management graduates. This paper is aimed at exploring the best practices for improving the administration process of group-based assessments to make it fit for purpose. The study adopted a systematic literature review and 22 semi-structured interviews with project management academics in higher education. The study found that teams should be small in size and formed by the faculty. Tasks should be based on a real-world context and be sufficiently challenging for students. The group should create a team charter to establish expectations and ground rules for group members. Group assessments should include team member peer evaluations and oral presentations to curb social loafing. Academics should be actively involved in giving regular feedback, training students about teamwork, and communicating their expectations to students. The study findings are useful to inform project management academics about the design and administration characteristics that need to be considered to achieve the ultimate purpose of group-based assessments in polishing the job-readiness attributes of project management graduates.