A new framework of intersecting institutional spheres of industry, government and academia is proposed to promote better mutual understanding of their roles in human resource development for the coming knowledge-based society. It is encouraged to also involve students to make the development, practice and assessment of universities′ engineering education programs well-balanced, solid and productive. Thus, a unique alliance between industry-government-university-student is established. A prospective university should take an initiative to define four indispensable elements of engineering education program such as a vision, goals, curricula and evaluation, which as a whole should be as a common platform for all stakeholders. A proposal is also made for the method of thesis evaluation, by which the mission and goals can be made much clearer to faculties, students as well as industries.