Step 1 - Devise a benchmarking programme that will benefit the course or programme that you are currently taking (apologies to anyone who is reading this for light entertainment rather than because it is required reading on their course). In doing so, decide whether you are going to benchmark against other courses at the same institution, competitor courses at other institutions or some other point of comparison. Also decide whether you are more interested in the performance of these other courses or the way they organize their processes, or both.
Step 2 - Identify the institutions and courses against which you are going to benchmark your own course.

Step 3 – Collect data on these other courses (visit them, send off for literature or visit their internet sites).
Step 4 – Compare your own course against these others and draw up a list of implications for the way your course could be improved.