The U.S. Coast Guard (USCG) has an unusually diverse mission space for a relatively smallservice.1 It is responsible for performing 11 statutory missions, such as icebreaking, drug interdiction, and fisheries enforcement, over domestic areas ranging from Maine to Guam; it also contributes to numerous overseas operations. Given these responsibilities, the Coast Guard needs to continually find ways to make the most effective use of its very limited resources. In light of this, it is critical for the Coast Guard to be able to measure its operational performance with respect to particular missions. This helps the Coast Guard recognize where it could potentially reallocate resources to alleviate shortfalls or how it can manage risk when it reallocates resources to accommodate contingencies. Moreover, by measuring its performance well, the Coast Guard can more effectively communicate with external stakeholdersincluding Congress, the White House, and the American publicabout how well it is doing in particular areas and about the logic behind its choices for allocation and investment. To effectively measure its operational performance, the Coast Guard needs to have both the right metrics for this purpose and a framework for understanding them. The Coast Guards Atlantic Area (LANTAREA) asked the RAND Corporation to conduct a study to help improve on existing metrics and develop such a framework. Please note that the Coast Guard is currently considering our findings and has not adopted them as Coast Guard doctrine.