This report reviews the benchmarking practices that are presently being used at community colleges. It introduces the concept of a "culture of inquiry" as a means for judging their potential value. It classifies benchmarking efforts among three types--performance, diagnostic, and process--and characterizes each by its typical use. The report also attempts to gauge the practical value of these various methods by assessing their capacity to truly inform understanding of institutional productivity and effectiveness in serving students. The following are appended: (1) List of New England Resource Center for Higher Education (NERCHE) Think Tank Participants and Facilitators; (2) List of National Advisory Council Members; and (3) List of Research and Administrative Team Members. (Contains 3 tables.) [This report draws on documents, presentations and discussions from the Community College Student Success Project (CCSSP), a research and service initiative at the Graduate College of Education, University of Massachusetts Boston. The CCSSP was sponsored by Lumina Foundation for Education.]