Updated 8 Jan. 2015
The RAW SCORE (or total score) for each team is computed using SUBSC (Subscore) + WINVAL (Win Value) - LSVAL (Loss Value). There are no preseason values assigned to any teams so that all teams start from scratch each season. Comparisons are more reliable as teams play more games and no rankings are listed for the current season until after the 3rd or 4th week of games has been completed. Each value is described in more detail below. (The RAW SCORE value was known simply as SCORE prior to 1/8/2015.)
The FINAL column takes the RAW SCORE and adjusts it (using the same constant for all teams) to derive a number that fits within the range of values used for total scores calculated for team rankings previous to 1/8/2015. Either the RAW SCORE or FINAL value may be used to assess the ranking of a team; each one is simply based on a different scale.
The Subscore for each team is computed by adding together the GPVS, SOS, and PWR values. In the case of a tie in the total SCORE between two or more teams, the team with the higher Subscore is ranked above the other team(s).
GPVS: Game & Points Value Score
The Game & Points Value Score for each team is determined by taking the points a team has scored against its opponents as well as the points it has allowed its opponents to score and then comparing this to how all other teams have fared against those same opponents. For instance, if Team A played Team B and the final score was 30-10 (in favor of Team A) and Team B allows its opponents 21 points on average, then Team A would receive a positive value for that portion of the GPVS score. Additionally, if Team B scored an average of 18 points per game, then Team A would receive a positive value for that portion of the GPVS as well. The game between Team A and Team B would not be included when computing Team B's average points scored or allowed to compute Team A's GPVS score.
Each team receives a GPVS score for each game played. The average GPVS score is then calculated for the team's overall GPVS score in the rankings. Additionally, the total points scored minus points allowed percentage is computed for each team and added to this value, though it has very little influence on the overall GPVS score (never greater than a 0.500 addition).
Games versus lower division teams (FCS) are not included when calculating this value (except for total points scored versus total points allowed).
SOS: Strength of Schedule
The Strength of Schedule value for each team is computed by averaging the winning percentage of each team's opponents (FBS only) as well as the winning percentage of its opponents' opponents. The ratio of importance between the winning percentage of the team's opponents and its opponents' opponents is about 6:4. The actual games between a team and its opponents are not included in the SOS calculation. Therefore, if a team wins a game, its SOS value is not decreased. Conversely, if a team loses, its SOS value is not increased due to the loss. A team's overall SOS rank is listed along with its SOS value, though the SOS ranking itself is not used in calculating a team's overall ranking.
Games versus lower division teams (FCS) are not included when calculating this value.
PWR: Power Score
A team's Power Score takes into account the location of the game and the winning percentage of the opponent. If the winning percentage of the opponent is considered a constant in this value, a win on the road will increase the value the most, while a loss at home will decrease the value the most. The effector is highest to lowest based on the following: road win, neutral site win, home win, road loss, neutral site loss, home loss.
NOTE: Neutral sites are games played in stadiums that are not considered either of the teams' home stadiums (including bowl games) or an alternate stadium (such as Arkansas playing in Little Rock). Additionally, a team may be considered the home team rather than a neutral site team if it is playing in a stadium in its home state against a team that is not located in that state and is located several miles away (and the game is not traditionally played there). For example, Oklahoma versus Texas in Dallas is considered a neutral site game because it is a traditional game played between the two schools and they are both located relatively close to the city. However, if Washington State played against West Virginia in Seattle, I would consider it a home game for Washington State.
Victories versus lower division teams (FCS) do very little to improve this value. However, losses to FCS teams will greatly decrease this value beyond what a loss to an FBS team will.
WINVAL: Win Value
A team's Win Value is determined by adding the Subscore of an FBS team it has defeated to the highest Subscore value of all teams. If a team loses, it receives no Win Value for that game. The average Win Value is computed by dividing the total Win Value score by the number of games played against FBS and FCS opponents. Teams are rewarded for playing an FBS opponent rather than an FCS opponent. The more FCS opponents a team plays, the more it will diminish the team's overall Win Value. However, as a team plays more and more games against FBS opponents, the less impact the FCS game(s) will have.
LSVAL: Loss Value
A team's Loss Value is computed in the same manner as its Win Value, except that the Subscore is only used if the team lost to its opponent. Also, the Subscore of the opponent is subtracted from the highest Subscore value of all teams to create a Loss Value for the game. Losses against FCS opponents do contribute to this value, in that a fixed Subscore is provided for all FCS opponents. This Subscore is added to the total Loss Value and then divided by the number of games played against FBS teams. Teams benefit from high Win Values and low Loss Values.