Interprofessional education and collaborative practice (IPECP) supervision plays a crucial role in preparing health profession students for patient-centered and team-based care. This chapter examines two essential components of effective IPECP supervision: goal setting and feedback, and their influence on building interprofessional competencies. Goal setting in IPECP is a collaborative and negotiated process that aligns learning objectives with institutional priorities, encourages accountability, and promotes active engagement among learners. The application of SMART objectives ensures clarity, measurability, and relevance, which enhances motivation and enables systematic progress tracking. Feedback, both formative and summative, serves as an essential tool for continuous improvement, reflection, and professional development. The chapter highlights effective feedback strategies and structured models, including Pendleton’s model and reflective feedback conversations, which foster psychological safety, constructive guidance, and actionable improvement plans. It also addresses challenges, such as professional silos, hierarchical structures, and logistical barriers, while proposing strategies to overcome these issues. By incorporating structured goal setting, meaningful feedback, and regular progress monitoring, IPECP supervision significantly strengthens collaboration, improves clinical competence, and supports the delivery of safe, high-quality healthcare.