tomedunn
Explorer
I've put the bones of the system up on GitHub:
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GitHub - mikemearls/5e_point_encounters: A system for balancing encounters in 5e using point values
A system for balancing encounters in 5e using point values - mikemearls/5e_point_encountersgithub.com
The math is still early, so expect changes as I spin up some code to run a deeper analysis of the monsters and characters in the 5e SRD. Hit me up here with any questions or comments.
This is very similar to the encounter building system used in Pathfinder 2e, even to the point where monster point values are doubling every two levels. I ran an analysis of the PF2 encounter building rules and showed their baseline monster stats do double in combat power roughly every two levels.
However, a lot of that power comes from the fact that their attack bonuses and armor classes scale include their level in them. This isn't the case with monsters in DnD, which means their points value should scale slower than that. By my calculations they should double, roughly every four levels instead (past CR 5 at least).
There's still the question of how, or whether to account for the number of monsters. From my understanding, the PF2 rules get around this by how their critical hits work, which DnD 5e doesn't have. However, people generally seem to like the encounter building rules in Xanathar's Guide to Everything which doesn't adjust for the number of monsters, so maybe doing so isn't all that necessary. It certainly seems to cause more troubles than its worth based on how I see other people apply it, but from a mathematical perspective I find it quite elegant.