Good for you! Building a strong developmental component like this into the program from the beginning, I believe, is an essential part of any good EMBA program. I have taught in several EMBA programs over the years and have found that the kind and nature of the feedback you give, and even the frequency of it, depend on the goals and desired outcomes that are built into your EMBA program. Essentially, you want to start with a clear idea of what you want your EMBA students to look like when they complete the program -- their values, attitudes, beliefs, and expectations -- and then give the students feedback that lets them see how they are progressing against their own baseline and the benchmarks you have set for them. See: Lindsey, W., & Pate, L. (2006). Integrating principle-centered leadership into the business curriculum: Lessons from the LMU experience. Journal of Executive Education, 5(1), 17-29.
Pate, L. E., Lindsey, W. E., Nielson, T. R., & Hawks, M. (2008). Innovations in graduate business education: The challenge of developing principle-centered leaders. In N. Barsky, M. Clements, J. Ravn, & K. Smith (Eds.), Advances in Business Education and Training: The Power of Technology for Learning, Vol. 1. Dordrecht, The Netherlands: Kluwer Academic Press.