Our research is devoted to development of a QAS of the ERASMUS+ ELEMEND project and particularly to an internal quality monitoring system, which is aimed to evaluate progress in the ELEMEND project towards reaching the project targets. In the research, we analyzed methods and tools of the quality monitoring system. One of the elements of the quality monitoring system is creation of the Project Quality Monitoring and Control Team (PQMC) that manages quality monitoring process in partner’ universities, which comprise the project consortium. The PQCM Team developed a comprehending reporting system, which is based on self-evaluation and peer review approaches. The universities Teams, which implement internal quality procedures, report on education programs accreditation at national and university levels, results from monitoring (peer review) visits to participating universities. The reports to be done on the overall implementation of the ELEMEND activities concerning curricula development and implementation, and about financial issues. Additionally, the reports may suggest corrective actions in case of lagging behind and potential risks. The offered QAS aggregates all project stakeholders including students, teachers, students’ organizations, potential employers, etc.