This paper presents a recent initiative to revolutionize the benchmarking of capital projects. In the past 17 years, Construction Industry Institute (CII) has become a major source for the benchmarking of capital projects. Although the value of benchmarking has been recognized by CII member companies, they find it difficult to implement it because of various issues. To address these issues, CII began working with industry experts to develop a new performance assessment system. This new system, known as the 10-10 program, consists of input measures, such as planning, organizing, leading, and controlling and output measures, such as cost and capacity. This paper describes the new benchmarking theories deployed in the creation of CII's new benchmarking system. This paper explains what the new measures are and how they were chosen. The 10-10 program is substantially different from previous attempts to benchmark project performance by pairing high-value metrics with a minimum effort concerning data collection. The new system is capable of measuring absolute metrics for specific industry sectors. Importantly, users of CII's 10-10 program can assess their projects at the conclusion of each of five phases from planning through startup. As a result, project management teams will be able to take proactive actions to enhance project results. It is expected that the new system will promote enhanced performance assessment through external benchmarking.