As I was looking for some tips specific for workplace learning I came across this article: http://evaluationfocus.com/formative-summative-assessment-an-explanation/
A tip on how to remember the distinction between the two:
Formative = “…‘formative informs”. The idea is that I am informed about how the trainee is performing at various stages of the training….The aim of formative assessment is to improve the amount of learning that occurs.”
Summative = “…summative is a summary”. The idea is that it summarises how the trainee has performed at the end of the training….The aim of summative assessment is to prove that learning has occurred.”
source: http://www.xtlearn.net/L/7758