The article is based on a research program aimed to identify strong and weak aspects of the implementation of the decree DM 509/1999 in the Italian university system and to evaluate whether the characteristics of the decree DM 70/2004 are able to respond to the critical issues that have emerged. The context of analysis is the University of Rome «Sapienza», chosen because of the institution’s numerous and composite dimensions covering all branches of scientific disciplines. From a substantive point of view, the phenomena of dropping-out, of delay in the course of studies and of the small numbers of graduations were analyzed using administrative data. From a methodological point of view, students’ careers were analyzed through multidimensional longitudinal models. The basic assumption of the research design is that a longitudinal perspective offers a more exact and detailed overview of university careers, in light of their nature of processes. The monitoring of such processes at short intervals of time (a semester) allows a comprehensive reconstruction of events/incidents potentially significant for the final outcome.