In this paper, we propose the first network performance measure that can be used to assess the efficiency of a network in the case of either fixed or elastic demands. Such a measure is needed for many different applications since only when the performance of a network can be quantifiably measured can the network be appropriately managed. Moreover, as we demonstrate, the proposed performance measure, which captures flow information and behavior, allows one to determine the criticality of various nodes (as well as links) through the identification of their importance and ranking. We present specific networks for which the performance/efficiency is computed along with the importance rankings of the nodes and links. The new measure can be applied to transportation networks, supply chains, financial networks, electric power generation and distribution networks as well as to the Internet and can be used to assess the vulnerability of a network to disruptions.