Watch the SECTION 2: The System online guitar lesson by Jeff Scheetz from Smart Practice For Guitar

I think any good practice system should include these things:

1) A way to set and organize your goals or vision for what you want to accomplish
2) A system to assess where you are and what you need to do next
3) A reliable method to schedule your practice time in a way that helps you get the most out of your time
4) A system to help you actually work on the material once you set down to practice
5) Tips and techniques to help keep practice interesting and fun

Throughout the following sections I'll help you develop your own practice system.