Most academic institutions agree that industrial training can provide an effective practical experience and exposure for students as well as closing the gap between learned theory and practical reality. One of the challenges of implementing industrial training is on bridging the different level of the outcome expectation between the academic and the industry. The objective of this study is to determine the level of the assessment from both the host company and the faculty supervisors/university as well as the significant difference of the results obtained by looking at the correlation of the assessment results between the two parties as method of indication. The research approach adopted is qualitative in nature with data acquired using questionnaires of the two assessors (faculty and industrial supervisor) for 322 engineering students from Universiti Teknikal Malaysia Melaka in 2013. Mean, standard deviation and t-test analysis were carried out in order to test the null hypotheses, which is, for each of the six assessment criteria, there is no significant difference between industrial supervisor evaluation and faculty supervisor evaluation. The results shows that,  except for the technical knowledge criteria, there exist a significant difference between industrial supervisor evaluation and faculty supervisor evaluation; which could lead into a conclusion that it is an indication that there exist expectation, perception and alignment gap between the two assessors and need to be urgently addressed by the institution. One recommendation proposed to address this issue is to have a micro level learning contract between the university and industry.