Purpose: In today’s competitive, global and interdisciplinary environment, universities are searching for a holistic system to ensure that their processes, available resources and results are efficient and in line with their strategic targets. One of the challenges for universities is to develop a set of Key Performance Indicators (thereafter – KPIs) that are in line with the strategy and at the same time reflect desirable development results. The aim of this research is to analyse the main groups of indicators that are linked to a university’s strategy and describe the quality system development. Methodology/Approach: Literature review and qualitative content analysis with open coding were used to identify the groups of indicators that describe the quality system development. Findings: The relationship between a university’s strategic view and performance measures creates a large number of indicators. Indicators can be grouped in different sets and levels, based on the purpose of the indicators in the organization. There is a wide range of indicators that describe the system or process, but not all of them are related to the strategic management of the university. The correct choice of KPIs is an important part of the university’s strategy development and implementation, as well-defined KPIs can help evaluate achievements. As a result of the research, the authors conclude that the groups of indicators described in the theory show similar elements with the groups of indicators based in the Excellence Approach of Riga Technical University (thereafter – RTU). Research Limitation/implication: There are many levels of how to assess in depth the university’s performance regarding KPIs. This research is focused on analysing a set of indicators that are linked to the university’s strategy and reflect the university’s quality system development. This research is focused on the 3rd generation universities which are defined by combining study, research and technology transfer activities. The RTU Strategy and Excellence Approach are used as the basis of comparison analysed in this research. Originality/Value of paper: In this research, quality system development is analysed together with the strategic development of universities nowadays. The research includes analysis of defined groups of indicators in comparison with the groups of indicators used in RTU Excellence Approach.