The new system claims to offer clients more than 50 different analysis tools to measure PR campaigns, and score the quality of a PR campaign with a single number.
It has been described by measurement and evaluation trade body AMEC as a 'big and bold step' in the movement against AVEs.
The move reflects growing industry consensus that AVEs are outdated and insufficient for measuring PR.
Last month, PRWeek reported that Ogilvy PR Worldwide is planning to roll out new global standards for measurement following trials by its Australian arm. PRWeek has also banned AVEs as a method of measurement in its industry awards.
AMEC's executive director Barry Leggetter said that Shine's move 'throws down the gauntlet' to other PR firms to take a look at their measurement and evaluation or 'risk being left behind'.
Leggetter added that agencies increasingly needed to 'tailor techniques to meet the needs of either the campaign or the client', rather than rely on a 'one-size-fits-all' approach.
Shine joint MD Richard Brett said: 'The whole industry needs to push away from AVEs.' He added that Shine would advise all its clients to migrate away from output and AVE measures.
However, he conceded that Shine would continue to use the old system if clients 'insisted on it'.
The agency's new system, branded as ERIC (Evaluating Results in Integrated Campaigns), follows a sixth-month review.
Part of the system can score the quality of a PR campaign in a single number, measuring the value of coverage across print, broadcast and online.
PR professionals met at an AMEC conference in Barcelona more than a year ago to agree the first global standard for PR measurement, and met again in Lisbon in June to discuss measurement priorities.