Standard benchmarking provides the run times for given programs on given machines, but fails to provide insight as to why those results were obtained (either in terms of machine or program characteristics), and fails to provide run times for that program on some other machine, or some other programs on that machine. We have developed a machineindependent model of program execution to characterize both machine performance and program execution. By merging these machine and program characterizations, we can estimate execution time for arbitrary machine/program combinations. Our technique allows us to identify those operations, either on the machine or in the programs, which dominate the benchmark results. This information helps designers in improving the performance of future machines, and users in tuning their applications to better utilize the performance of existing machines. Here we apply our methodology to characterize benchmarks and predict their execution times. We present extensi...