Funding bodies, donors and boards around the world increasingly require arts organizations to conduct performance measurement. This often extends to measuring an organization's artistic excellence, or, in Australian terms, “artistic vibrancy”. In some countries, such as England and Australia, funding bodies require major arts organizations to “self-assess” their own artistic excellence and vibrancy. But can such a thing really be measured? In 2009, the Australia Council for the Arts conducted research into the concept of measuring artistic vibrancy. As there had been little formal research in the area, the Australia Council conducted primary research into what might represent “good practice” in artistic self-assessment amongst major performing arts organizations in Australia and the United Kingdom, in the art forms of opera, orchestral and chamber music, dance and theatre (including circus). The researchers' key finding was that there is no “one size fits all” approach to assessing artistic vibrancy. Arts organizations will adopt a variety of methods that suit their unique environments, both across art forms and within them. However, in general, it was found that good practice in artistic self-assessment almost always involved: a frank culture of feedback, within the organization, and with audiences and external stake holders; a meaningful engagement with assessment as part of a performance improvement process, and a related aversion to “box ticking”; a genuine commitment to peer review; and acting on the outcomes of artistic self-assessment to improve future work. This article will examine the Australian policy context of the research, review the literature in relation to measuring “artistic vibrancy”, and present key, good practice case studies of “artistic self-assessment”, including the Royal Opera House and Scottish Opera, United Kingdom, and Circus Oz, Australia. The article will conclude with an analysis of the findings from the case studies, and suggestions for further research and policy directions for other funding bodies grappling with the issue of how to measure artistic vibrancy.