diff --git a/.github/workflows/test_performance.yml b/.github/workflows/test_performance.yml
index 492d287e82..7819127b0c 100644
--- a/.github/workflows/test_performance.yml
+++ b/.github/workflows/test_performance.yml
@@ -52,7 +52,7 @@ jobs:
     # import test model
     - name: Import test model
       run: |
-        AMICI_IMPORT_NPROCS=2 check_time.sh petab_import python tests/performance/test.py import
+        AMICI_IMPORT_NPROCS=2 tests/performance/performance_test.py petab_import
 
     - name: "Upload artifact: CS_Signalling_ERBB_RAS_AKT_petab"
       uses: actions/upload-artifact@v7
@@ -63,59 +63,59 @@ jobs:
     # install model package
     - name: Install test model
       run: >
-        check_time.sh install_model tests/performance/test.py compile;
+        tests/performance/performance_test.py install_model;
         for opt in O0 O1 O2;
         do
-          check_time.sh install_model_${opt} tests/performance/test.py compile_${opt};
+          tests/performance/performance_test.py install_model_${opt};
         done
 
     # run simulations
     - name: forward_simulation
       run: >
-        check_time.sh forward_simulation tests/performance/test.py  forward_simulation;
+        tests/performance/performance_test.py forward_simulation;
         for opt in O0 O1 O2;
         do
-          check_time.sh forward_simulation tests/performance/test.py forward_simulation_${opt};
+          tests/performance/performance_test.py forward_simulation_${opt};
         done
     - name: forward_sensitivities
       run: >
-        check_time.sh forward_sensitivities tests/performance/test.py forward_sensitivities;
+        tests/performance/performance_test.py forward_sensitivities;
         for opt in O0 O1 O2;
         do
-          check_time.sh forward_sensitivities tests/performance/test.py forward_sensitivities_${opt};
+          tests/performance/performance_test.py forward_sensitivities_${opt};
         done
     - name: adjoint_sensitivities
       run: >
-        check_time.sh adjoint_sensitivities tests/performance/test.py adjoint_sensitivities;
+        tests/performance/performance_test.py adjoint_sensitivities;
         for opt in O0 O1 O2;
         do
-          check_time.sh adjoint_sensitivities tests/performance/test.py adjoint_sensitivities_${opt};
+          tests/performance/performance_test.py adjoint_sensitivities_${opt};
         done
     - name: forward_simulation_non_optimal_parameters
       run: |
-        check_time.sh forward_simulation_non_optimal_parameters tests/performance/test.py forward_simulation_non_optimal_parameters;
+        tests/performance/performance_test.py forward_simulation_non_optimal_parameters;
         for opt in O0 O1 O2;
         do
-          check_time.sh forward_simulation_non_optimal_parameters tests/performance/test.py forward_simulation_non_optimal_parameters_${opt};
+          tests/performance/performance_test.py forward_simulation_non_optimal_parameters_${opt};
         done
     - name: adjoint_sensitivities_non_optimal_parameters
       run: |
-        check_time.sh adjoint_sensitivities_non_optimal_parameters tests/performance/test.py adjoint_sensitivities_non_optimal_parameters;
+        tests/performance/performance_test.py adjoint_sensitivities_non_optimal_parameters;
         for opt in O0 O1 O2;
         do
-          check_time.sh adjoint_sensitivities_non_optimal_parameters tests/performance/test.py adjoint_sensitivities_non_optimal_parameters_${opt};
+          tests/performance/performance_test.py adjoint_sensitivities_non_optimal_parameters_${opt};
         done
     - name: forward_steadystate_sensitivities_non_optimal_parameters
       run: |
-        check_time.sh forward_steadystate_sensitivities_non_optimal_parameters tests/performance/test.py forward_steadystate_sensitivities_non_optimal_parameters;
+        tests/performance/performance_test.py forward_steadystate_sensitivities_non_optimal_parameters;
         for opt in O0 O1 O2;
         do
-          check_time.sh forward_steadystate_sensitivities_non_optimal_parameters tests/performance/test.py forward_steadystate_sensitivities_non_optimal_parameters_${opt};
+          tests/performance/performance_test.py forward_steadystate_sensitivities_non_optimal_parameters_${opt};
         done
     - name: adjoint_steadystate_sensitivities_non_optimal_parameters
       run: |
-        check_time.sh adjoint_steadystate_sensitivities_non_optimal_parameters tests/performance/test.py adjoint_steadystate_sensitivities_non_optimal_parameters;
+        tests/performance/performance_test.py adjoint_steadystate_sensitivities_non_optimal_parameters;
         for opt in O0 O1 O2;
         do
-          check_time.sh adjoint_steadystate_sensitivities_non_optimal_parameters tests/performance/test.py adjoint_steadystate_sensitivities_non_optimal_parameters_${opt};
+          tests/performance/performance_test.py adjoint_steadystate_sensitivities_non_optimal_parameters_${opt};
         done
diff --git a/tests/performance/test.py b/tests/performance/performance_test.py
similarity index 86%
rename from tests/performance/test.py
rename to tests/performance/performance_test.py
index a0b61c80b2..619bcc38d4 100755
--- a/tests/performance/test.py
+++ b/tests/performance/performance_test.py
@@ -5,12 +5,14 @@
 import shutil
 import subprocess
 import sys
+import time
 from pathlib import Path
 
 import amici
 import amici.exporters.sundials.de_export
 import amici.importers.sbml
 import petab.v1 as petab
+import yaml
 from amici.importers.petab.v1._petab_import import import_model_sbml
 from amici.sim.sundials import (
     AMICI_SUCCESS,
@@ -21,6 +23,10 @@
     run_simulation,
 )
 
+reference_times_file = Path(__file__).parent / "reference.yml"
+with open(reference_times_file) as f:
+    reference_times: dict[str, float] = yaml.safe_load(f)
+
 
 def parse_args():
     arg = sys.argv[1]
@@ -153,11 +159,15 @@ def main():
     model_dir_compiled = Path(f"model_performance_test_{suffix}")
     model_name = "model_performance_test"
 
-    if arg == "import":
+    start_time = time.time()
+
+    if arg == "petab_import":
         run_import(model_name, model_dir_source)
+        check_time(arg, time.time() - start_time)
         return
-    elif arg == "compile":
+    elif arg == "install_model":
         compile_model(model_dir_source, model_dir_compiled)
+        check_time(f"{arg}{suffix}", time.time() - start_time)
         return
     else:
         model_module = amici.import_model_module(
@@ -176,6 +186,21 @@ def main():
     rdata = run_simulation(model, solver, edata)
 
     check_results(rdata)
+    check_time(arg, time.time() - start_time)
+
+
+def check_time(task: str, time: float):
+    reference_time = reference_times[task]
+    if time <= reference_time:
+        print(
+            f"Time for task {task} is {time:.2f}s, "
+            f"which is within the reference time of {reference_time:.2f}s."
+        )
+    else:
+        raise AssertionError(
+            f"Time for task {task} is {time:.2f}s, "
+            f"which exceeds the reference time of {reference_time:.2f}s."
+        )
 
 
 if __name__ == "__main__":
diff --git a/tests/performance/reference.yml b/tests/performance/reference.yml
index 0f2a090615..c353c59fd6 100644
--- a/tests/performance/reference.yml
+++ b/tests/performance/reference.yml
@@ -1,15 +1,15 @@
 # Reference wall times (seconds) with some buffer
-create_sdist: 16
-install_sdist: 150
+create_sdist: 10
+install_sdist: 110
 petab_import: 720
 install_model: 60
 install_model_O0: 40
 install_model_O1: 45
 install_model_O2: 60
-forward_simulation: 2
-forward_sensitivities: 2
-adjoint_sensitivities: 2.5
-forward_simulation_non_optimal_parameters: 2
-adjoint_sensitivities_non_optimal_parameters: 5
-forward_steadystate_sensitivities_non_optimal_parameters: 5
-adjoint_steadystate_sensitivities_non_optimal_parameters: 4
+forward_simulation: 1
+forward_sensitivities: 1
+adjoint_sensitivities: 1
+forward_simulation_non_optimal_parameters: 1
+adjoint_sensitivities_non_optimal_parameters: 2
+forward_steadystate_sensitivities_non_optimal_parameters: 3
+adjoint_steadystate_sensitivities_non_optimal_parameters: 2