In contrast to AERES, which was largely perceived as running overwhelming and redundant evaluations, the council will accredit evaluation procedures to be proposed by the institutions, only performing the evaluations themselves at the request of the institutions.
The council's credit evaluation process will begin early next year, using faculty teams to begin to assess how much students who successfully complete Coursera MOOCs have learned.
Companies that meet those standards will then go through another evaluation, where the council will analyze a broad range of industry-specific measures to determine whether significant financial distress at the company could pose a threat to the country's overall financial stability.
They include "what they like, didn't like, did it break, did it flip, did it hurt, how was sex, how was orgasm," said Ron Frezieres, vice president of research and evaluation for the council, which recruits many of its study participants through Craigslist.
"The changes will initially affect senior positions and will include a job evaluation process," said council leader Mr Jones, before the meeting.
The council also says that formal evaluations of educational programs should be a factor in funding decisions.
In 2004, an evaluation of the effect of client councils on decision-making of the organisation showed that councils influence on issues covered by the right to consent was small.
Mr. Geithner said that the council will complete the first round of evaluations this year.
Until now equal job evaluation has mainly affected local councils, where jobs are assessed and given pay grades.
One evaluation may involve Coughlin's leadership council of veterans.
