In this paper we describe content focused, practical procedures to establish benchmarked performance standards for educational and other tests. To implement our procedures, we identify one or more external benchmark (e.g., NAEP or PISA performance levels, college and career readiness benchmarks); link to the external benchmarks to locate those standards on a test's score scale; write aligned achievement level descriptors; and train standard setting panelists to review, then retain or adjust, the benchmarked cut scores and provide content based rationales for resulting recommendations. We provide rationales for benchmarking cut scores; define and characterize benchmarked cut scores; describe the history and evolution of benchmarked cut scores; review differences between our content focused approach, which employs empirical analyses, and purely empirical benchmarking; and describe workshop procedures and selected results from establishing benchmarked cut scores and performance standards for two assessment programs.