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A Diversity Index (DI) was developed to quantify eight minority categories (“Women”, “Non Male/Female”, “Afro-American”, “Hispanic”, “Asian/other ethnicity” “LGBQT”, “Disabilities”, and “First Generation”) in contrast to the standard “White American male”. This index is compared with a Minority Index (MI) based only on the ratio of “Non White American male” to the total of group members, which exhibits poor representation for diversity when teams are heavily conformed by minority representatives. In addition, the Diversity Index includes a tuning parameter to adjust for the impact of multiple diversities on the same individual. The Diversity Index has been calculated for four junior courses on Reactive Process Engineering and four senior capstone courses on Process Control and Process Design during the last three years (2019-21). Each course included at least two semester-long projects for 4-6 member teams. The Diversity Index was used to assess the performance of 69 self-selected teams, performing 37 technical projects and 101 outreach projects total. Assessments included relations with grades, peer-grading, team experience, and scope of activities. The analysis provides a quantitative approach to the impact of diversity on team performance. Reliability on some data is still difficult to validate. This study has relied mainly on the instructor interactions with students. In order to protect the students’ personal information, the proposed Diversity Index outputs a quantitative value without exposing the diversity source, and thus promoting more honest, secure and respectful participation. A new step is in progress to offer a “diversity rewarded” option to motivate students to select team members providing for larger inclusion and diversity.