Peer review assessment feedback practices are part of the contemporary trend of active learning methodologies to improve student engagement in learning and assessment activities. With the increasing importance of active learning and the challenges posed by remote learning due to COVID-19, this research offers valuable insights into crafting efficient peer assessment systems. Concerns about students’ evaluative abilities, power dynamics, willingness to engage and resource limitations were raised. Moreover, factors such as the level of anonymity, the weighting of the assessment and the provision of training for students need to be addressed. This research reviewed best practices in the literature to develop a framework and tested an approach using a pilot study conducted in the Master of Construction Management Program at the University of Melbourne using the FeedbackFruits software tool. Surveys and focus groups are used with students, in addition to teacher reflections, then yielded several implications and recommendations for implementing peer review assessment. These include understanding student needs, testing the effectiveness of collaborative peer review assessment and enabling assessments to close the feedback loop by giving them incentives to use and evaluate the quality of the feedback they receive. The findings can help educators make informed decisions about designing peer review assessment processes that meet students’ learning needs.