On average, professional psychologists spend more than a quarter of their working time on psychological assessment (PA); almost one tenth of their university education addresses this topic. Within the psychological disciplines, PA contributes substantially in dealing with current challenges in our society, and the societal need for PA is constantly increasing. However, as a university subject, PA lacks more and more resources. This paper deals with the current status quo of PA in university education and research as well as with the relationship between research and practice. It highlights challenges PA has to deal with and makes proposals for the further development of the subject.