Industry reports that benefits of PLM are difficult to assess because the same benefit can be expressed as a function of time, cost, quality, or any combination. Based on a review of the PLM literature in an earlier study, a PLM Process Model and an initial list of PLM related metrics was generated and later confirmed through interviews with experienced PLM users. In the current study, the original PLM Process Model was refined and the list of metrics was subjected to an exploratory factor analysis in which specific metrics were found to be related to one of four factors: Inputs, Processes, Outputs, and Outcomes. Based on the results of this study, a Product Lifecycle Implementation Maturity Model was developed that serves as a program-level guide in helping to quantify PLM performance in support of meeting organizational strategic goals.