There are different quality assurance methodologies applied for assessment and improvement of study programs. The aim of this paper is to perform analysis and assessment of the Quality Function Deployment (QFD) methodology application to study program assessment. QFD methodology can be applied for identification of client needs and evaluation of client satisfaction level with the product or service. At the same time it is also self-assessment method, which can be applied for design and improvement of the study programs and processes. QFD methodology allows to develop and improve content of the studies and study process according to demand of changing environment. In this case development and improvement of study programmes is done by, both – academia and industry – professionals, anticipating cooperation with other study programmes and HEIs. Principle of continuous improvement comprise all the study process, it relates also to initial analysis of the content of study programme as well as to continuous improvement process. Study programme should be revised and advanced in accordance with requirements for particular moment and anticipation of future demand and needs for specific professional qualification. As a result list and content of study subjects have been revised and updated; teaching methods, logic and structure as well as content of different courses have been integrated between those courses. Application of QFD methodology helps to improve operation of HEI. If new professional knowledge is included in study content on regular bases and academic staff is more motivate to acquire topical knowledge and skills, study process became more rational, effective and it could save a lot of costs for HEI.