To sense and adapt to uncertainty may characterize a critical entrepreneurial resource. In this research, we employ a metacognitive lens toward the development of a 36-item inventory designed to assess cognitive adaptability, defined as the ability to be dynamic, flexible, and self-regulating in one’s cognitions given dynamic and uncertain task environments. Construction of the inventory, and subsequent factor analysis, is confirmatory in nature based on five theoretically justified dimensions of metacognition. We describe the development of the instrument, discuss its implications for entrepreneurship, and finally offer suggestions for further development and testing.