Abstract: Performance evaluation of university academics in many parts of the world including Sri Lanka is done mainly through student feedback. A part from student feedback, peer evaluation is also done to review the teaching performance of an academic. However, all these evaluation methods focus on the teaching ability of an academic without considering the training the person has undergone the research that he or she has carried out and the community services that has been undertaken. This shows that there is a timely requirement to perform a comprehensive evaluation covering all the aspects of an academic together with the classroom teaching. This study aims therefore to propose a viable alternative to Sri Lankan higher education’s current practice of student feedback. The main reason for carrying out this study is the contrary in opinions that exist with regard to the validity of student ratings as the main appraisal mechanism. Some researchers argue that students’ feedback represents a necessary rather than a sufficient source for evaluating the performance of an academic. Consequently, to a more complete evaluation of an academic, this study proposes a multisource and multiple perspective academic balance scorecard. This development is fashioned by the classic balance scorecard developed by Kaplan and Norton in 1992. The academic balance scorecard will provide a comprehensive feedback on an academic beyond the boundaries of his/her classroom teaching performance. The framework proposes to evaluate performance from an institutional perspective, a student perspective, an administrative perspective and a learning and growth perspective. As a result, this will provide both a formative and summative evaluation of an academic. Further this will coherently communicate the standard of a department’s academic staff which is the core strength of any academic institute. Finally, this qualitative study conducted through content analysis will be a useful guide for institutional development as well as for academic career development.