Anthony:
You've listed a lot of good factors that bear considering.
Student learning outcomes (SLO's) define what a student should learn, know, perform, assess, etc. at the end of a course. I believe that if we teach to the SLO's, then assessing if they have achieved those goals makes grading a bit easier a task.
How we go about setting up those assessments still needs to be fair to all students and consistently applied in the same fashion. A key is to assure that the students know what the expectations for grading are at the outset. This helps minimize disputes… >>>