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Definition of formative and summative assessment
Formative assessment
A set of formal and informal assessment methods undertaken by the teachers at the time of the learning process is known as Formative Assessment. It is a  part of the instructional process, which is undertaken by the teachers, with an objective of enhancing the student’s understanding and competency, by modifying teaching and learning methods.

Formative Assessment attempts to provide direct and detailed feedback to both teachers and students, regarding the performance and learning of the student. It is a continuous process, that observes student’s needs and progress, in the learning process.
Summative assessment
Summative Assessment refers to the evaluation of students; that focuses on the result. It is a part of the grading process which is given periodically to the participants, usually at the conclusion of the course, term or unit. The purpose is to check the knowledge of the students, i.e. to what extent they have learned the material, taught to them.

Summative Assessment, seeks to evaluate the effectiveness of the course or program, checks the learning progress, etc. Scores, grades or percentage obtained to act as an indicator that shows the quality of the curriculum and forms a basis for rankings in schools.

Why it is used
Formative assessment
Using formative assessments in the classrooms help teachers to assess the academic growth of a student in different manners.

Once teachers run the assessment, they can adjust the lessons based on individual students’ needs and objectives.

Summative assessment

The goal of summative assessment is to analyze a student’s learning at the end of a course.

Examples
Formative assessment

One Minute Papers

Ask students to create simple one-minute papers. If it is an online classroom, then they can do this online on platforms suchas Padlet, Formplus.
The teacher can create a simple 1-minute survey with open-ended questions and ask your students to share their knowledge within a particular context.

Entry Slips

Before starting off on a new topic or lesson, the teacher can ask one or more questions to know how much the students remember from the previous lesson.

Exit Slips

Exit slips are used to measure the students’ progress at the end of the lesson. Ask learners to write some of the points they remember from the lesson on scrap paper or create a simple online questionnaire to collect relevant responses from students.

Summative assessment

End-of-term Examination

A final examination or assessment is one of the most common methods of classroom evaluation. Examinations have a simple framework—the teacher curates relevant questions and the students respond to these questions within a timeframe.

Instructors conduct examinations as some sort of final knowledge review of the program. Examinations test the students’ knowledge of the subject matter and they produce quantitative results that help you to grade your students and know how well they have performed.

Standardized Admission Tests

These tests qualify candidates for a specific program; for instance, IELTS and TOEFL are standardized English-proficiency exams that demonstrate a candidate’s competency in the use of the language. These tests are organized on a large scale and they make use of explicit scoring criteria for grading.

Oral Tests

Oral summative assessments are used to get real-time and spontaneous responses from learners at the end of a course. The instructor can embrace structured, semi-structured, or unstructured interview methods to grade the students and evaluate their overall performance. Students may also partake in oral classroom presentations.

Differences between formative and summative assessment

1. Formative assessments are taken during the learning process, while summative assessments often happen at the conclusion of a specific instructional period—usually at the end of a project, unit, course, semester, program, or school year.

2. Formative assessments are for learning, while summative assessments are of  learning.

3.  Most summative assessments are deliberately set apart from instruction, but formative assessments are integrated into the teaching and learning process.

4. The goal of formative assessment is to monitor student learning while summative assessment is to evaluate student learning.

Resources
https://keydifferences.com/difference-between-formative-and-summative-assessment.html
https://www.formpl.us/blog/formative-assessment

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Assessment refers to the evaluation of something. When it comes to learning, students are assessed by the educational institution, to analyse their learning graph, their understanding level and progress. It also helps in planning further study material. Assessment can be of two types, i.e. it can be formative or summative. The formative assessment (FA) is conducted during the learning process.

On the contrary, summative assessment (SA) is undertaken only at the end of the course or unit. The primary difference between formative and summative assessment lies in their nature and the frequency of occurrence. Let's take a look at this article, in which we've simplified the difference.

Content: Formative Assessment Vs Summative Assessment

Comparison Chart

Basis for Comparison

Formative Assessment

Summative Assessment

Definition of Formative Assessment

A set of formal and informal assessment methods undertaken by the teachers at the time of the learning process is known as Formative Assessment. It is a part of the instructional process, which is undertaken by the teachers, with an objective of enhancing the student's understanding and competency, by modifying teaching and learning methods.

Formative Assessment attempts to provide direct and detailed feedback to both teachers and students, regarding the performance and learning of the student. It is a continuous process, that observes student's needs and progress, in the learning process.

Definition of Summative Assessment

Summative Assessment refers to the evaluation of students; that focuses on the result. It is a part of the grading process which is given periodically to the participants, usually at the conclusion of the course, term or unit. The purpose is to check the knowledge of the students, i.e. to what extent they have learned the material, taught to them.

Summative Assessment, seeks to evaluate the effectiveness of the course or program, checks the learning progress, etc. Scores, grades or percentage obtained to act as an indicator that shows the quality of the curriculum and forms a basis for rankings in schools.

Key Differences Between Formative and Summative Assessment

The difference between formative and summative assessment can be drawn clearly on the following grounds:

1. Formative Assessment refers to a variety of assessment procedures that provides the required information, to adjust teaching, during the learning process. Summative Assessment is defined as a standard for evaluating learning of students.

2. Formative Assessment is diagnostic in nature while Summative Assessment is evaluative.

3. Formative Assessment is an assessment for learning, whereas summative Assessment is an assessment of learning.

4. Formative Assessment occurs on an on-going basis, either monthly or quarterly. On the other hand, Summative Assessment occurs only at specific intervals which are normally end of the course.

5. Formative Assessment is conducted to enhance the learning of the students. Conversely, Summative Assessment is conducted to judge student's performance.

6. Formative Assessment is undertaken to monitor student's learning. As opposed to Summative Assessment, aims at evaluating student's learning.

7. The value of grades of formative assessment is less than the summative assessment, in a sense that grades obtained in FA will tell about the student's understandability while grades of SA, will determine whether the students should be promoted or not.

Conclusion

The principal difference between these two assessment procedures is that, while the formative assessment is a kind of the instructional process, summative assessment is a sort of grading process. A balanced assessment is based on both the two, that provides necessary information about the next steps of the teachers and to measure student's learning regarding the content standard.

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Difference Between Formative and Summative Assessment (with Comparison Chart) - Key Differences

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Assessment refers to the evaluation of something. When it comes to learning, students are assessed by the educational institution, to analyse their learning graph, their understanding level and progress. It also helps in planning further study material. Assessment can be of two types, i.e. it can be formative or summative.

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What are diagnostic assessments?
Diagnostic assessments serve as pre-assessment or pre-tests in which teachers evaluate students' strengths, weaknesses, knowledge, and skills before they begin instruction.

Types of diagnostic assessments that can be used for assessing students:

Journals

Quiz/Test

Conference/Interview

Posters

Performance Tasks

Mind Maps

Gap-Closing

Student Surveys

Anticipation Guides

Graffiti Walls

Word Splash

Parallel Activity

Formal Assessment

KWL

Benefits of Diagnostic Assessments

Indicate students' prior knowledge.

Assess the learning that has occurred during a teaching/learning session.

It can help instructors adjust content and activities to encourage more effective learning.

May make the teaching/learning process more efficient and effective by zeroing in on content that needs to be taught and mastered.

Can help students understand the value of a lesson, module, or entire course.

Can point out to students the gaps in students' reasoning and misperceptions about the subject matter.

It may motivate students to seek accurate information and practice.

Demonstrate to students that their instructors care about them as people and their success as learners.

In conclusion, the purpose of diagnostic assessment is to aid teachers to improve their instruction methods and help students learn better.

Resources: https://courses.dcs.wisc.edu/design-teaching/PlanDesign_Fall2016/2-Online-Course-Design/3_Learning-Assessments/5_assessment_diagnostic.html
https://harappa.education/harappa-diaries/diagnostic-assessment/

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Diagnostic assessments (also known as pre-assessments) provide instructors with information about student's prior knowledge and misconceptions before beginning a learning activity and also diagnose students' strengths and areas of need.

These assessments also provide a baseline for understanding how much learning has taken place after the learning activity is completed. Instructors usually build concepts sequentially throughout a course. A diagnostic pre-assessment provides an opportunity to determine if students remember the concepts they need. If some students don't remember important concepts, then a refresher will make the current activity more meaningful and improve learning outcomes for students.

Benefits of Diagnostic Assessments

Indicate students' prior knowledge.

Assess the learning that has occurred during a teaching/learning session.

Can help instructors adjust content and activities to encourage more effective learning.

May make the teaching/learning process more efficient and effective by zeroing in on content that needs to be taught and mastered.

Can help students understand the value of a lesson, module, or entire course.

Can point out to students the gaps in student's reasoning and misperceptions about subject matter.

May motivate students to seek accurate information and practice.

Demonstrate to students that their instructors care about them as people and about their success as learners.

Consider: What benefits of using diagnostic assessment can you see for your own classes? Consider these when drafting your course map and module worksheet at the end of this module.

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Diagnostic Assessments: Assess Prior Knowledge

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Diagnostic assessments (also known as pre-assessments) provide instructors with information about student's prior knowledge and misconceptions before beginning a learning activity and also diagnose students' strengths and areas of need. These assessments also provide a baseline for understanding how much learning has taken place after the learning activity is completed.

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What is a performance assessment?
A performance assessment involves applying and showing skills and knowledge through various performance tasks. A performance assessment aims to improve the student learning experience and evaluate the effectiveness of lesson plans.

How are they used?
Throughout the year, teachers use performance assessments to determine if their students are gaining knowledge in a subject. Performance assessments can be administered at any time, although they are typically administered at the beginning and end of a course. Students are asked to use their critical thinking and problem-solving skills to produce reports, experiments, or performances demonstrating their abilities
Some common types of performance assessments include:

Standardized assessments or norm-referenced: Assessments that use a basic threshold to understand student knowledge and provide a grade or score as an assessment result.

Interim assessments: Assessments that are administered multiple times in a school year.

Summative: Teachers may give this assessment at the end of the semester to understand if the coursework helped a student apply their knowledge during an assessment.

Examples of performance assessments

Writing a few sentences in an open-ended response

Writing an essay that provides a thorough analysis

Investigating a laboratory experiment

Creating a portfolio of student work

Researching and writing an original paper.

Resources: https://www.indeed.com/career-advice/career-development/performance-assessment
https://learningpolicyinstitute.org/product/cpac-performance-assessments-support-student-learning-

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Performance Assessment - Classroom Vignette (TELL Project)

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Assessment and evaluation requires thoughtful planning and implementation to support the learning process and to inform teaching. All assessments and evaluation of student achievement must be based on the outcomes in the provincial curriculum and allow for flexibility determined by the needs of the student.

There are three interrelated purposes of assessment. Each type of assessment, systematically implemented, contributes to an overall picture of an individual student’s achievement.

Assessment for learning (formative assessment) involves the use of information about student progress to support and improve student learning, inform instructional practices, and:

is teacher-driven for student, teacher, and parent use;

occurs throughout the teaching and learning process, using a variety of tools; and

engages teachers in providing differentiated instruction, feedback to students to enhance their learning, and information to parents in support of learning.

Assessment as learning (formative assessment) actively involves student reflection on learning, monitoring of his/her own progress, and:

supports students in critically analyzing learning related to curricular outcomes;

is student-driven with teacher guidance; and

occurs throughout the learning process.

Assessment of learning (summative assessment) involves teachers’ use of evidence of student learning to make judgements about student achievement and:

provides an opportunity to report evidence of achievement related to curricular outcomes;

occurs at the end of a learning cycle using a variety of tools;

provides the foundation for discussions on placement or promotion. The evaluation compares assessment information against criteria based on curriculum outcomes for the purpose of communicating to students, teachers, parents/caregivers, and others about student progress; and to make informed decisions about the teaching and learning process.
(Saskatchewan Ministry of Education, 2010b, p. 33)

Sources:
https://www.harapnuik.org/?p=8475

https://saskatchewanreads.wordpress.com/assessment-for-as-of-learning/

Saskatchewan Ministry of Education, 2010b, p. 33