As planning for the next generation of high contrast imaging instruments (e.g. WFIRST, HabEx, and LUVOIR, TMT-PFI, EELT-EPICS) matures, and second-generation ground-based extreme adaptive optics facilities (e.g. VLT-SPHERE, Gemini-GPI) are halfway through their principal surveys, it is imperative that the performance of different designs, post-processing algorithms, observing strategies, and survey results be compared in a consistent, statistically robust framework. In this paper, we argue that the current industry standard for such comparisons -- the contrast curve -- falls short of this mandate. We propose a new figure of merit, the performance map, that incorporates three fundamental concepts in signal detection theory: the true positive fraction (TPF), false positive fraction (FPF), and detection threshold. By supplying a theoretical basis and recipe for generating the performance map, we hope to encourage the widespread adoption of this new metric across subfields in exoplanet imaging.