The involvement of university students in their own assessment leads to motivation towards learning. The aim of this study is twofold. The first aim is to analyze the factors of evaluation in Physical Education that generate motivation and involvement. To do this, we have discussed five factors: (1) to generate awareness of what is being learned; (2) to delimit the deadlines in the development of tasks; (3) to associate it with the development of competencies; (4) to apply it in a variety of contexts and tasks; and (5) to allow reflection on the teaching and learning process. The second aim, based on the previous one, tries to delimit strategies to implement a quality evaluation in the university classrooms. Five strategies have been analyzed: (1) triadic assessment; (2) grade distribution; (3) collaborative creation of instruments; (4) elaboration of formative questions; and (5) use of apps. Finally, a series of reflections are proposed to put into practice the formative and shared assessment as opposed to the traditional evaluation. This manuscript is a substantial contribution to the existing literature, as it serves as a clear guide for university teachers to implement this type of assessment in the classroom, generating student motivation and transferability of their learning.