Updated SP+ rankings for all 136 FBS teams
Briefly

Updated SP+ rankings for all 136 FBS teams
"What is SP+? In a single sentence, it's a tempo- and opponent-adjusted measure of college football efficiency that I originally created at Football Outsiders in 2008. SP+ is intended to be predictive and forward-facing. It is not a re9sume9 ranking (hence the lack of unbeatens near the top), so it does not automatically give credit for big wins or particularly brave scheduling -- no good predictive system does."
"SP+ strength of schedule is based on the expected win percentage an average top-five team (per SP+) would generate against each team's schedule. An SOS rating of .850, for instance, signifies that the average top-five team would be expected to win an average of 85.0% of its games, or 10.2 projected wins over a 12-game schedule. A lower expected win percentage signifies a harder schedule, so the lowest SOS rating ranks first."
SP+ is a tempo- and opponent-adjusted, predictive measure of college football efficiency designed to forecast future performance and emphasize sustainable aspects of play. The metric does not serve as a résumé ranking and therefore does not automatically reward big wins or bold scheduling. Early-season ratings rely heavily on preseason projections and special teams ratings, with those priors slowly phased out as the season progresses. SP+ strength of schedule expresses the expected win percentage an average top-five team would achieve against a given schedule. Résumé SP+ compares each team's scoring margin, capped at 50 points per game.
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