Model:

GFS (Global Forecast System) Global Model from the "National Centers for Environmental Prediction" (NCEP)

Updated:
4 times per day, from 3:30, 09:30, 15:30 and 21:30 UTC
Greenwich Mean Time:
12:00 UTC = 07:00 EST
Resolution:
0.25° x 0.25°
Parameter:
Lifted Index
Description:

The Lifted Index (LI) is defined as a rising parcel's temperature when it reaches the 500 millibars level (at about 5,500m or 18,000 feet asl), subtracted from the actual temperature of the environmental air at 500 mbar. If the Lifted Index is a large negative number, then the parcel will be much warmer than its surroundings, and will continue to rise. Thunderstorms are fueled by strong rising air, thus the Lifted Index is a good measurement of the atmosphere's potential to produce severe thunderstorms.

The Lifted Index (LI)
RANGE IN K
COLOR
AMOUNT OF INSTABILITY
THUNDERSTORM PROBABILITY
more than 11
BLUE
Extremely stable conditions
Thunderstorms unlikely
8 to 11
LIGHT BLUE
Very stable conditions
Thunderstorms unlikely
4 to 7
GREEN
Stable conditions
Thunderstorms unlikely
0 to 3
LIGHT GREEN
Mostly stable conditions
Thunderstorm unlikely
-3 to -1
YELLOW
Slightly unstable
Thunderstorms possible
-5 to -4
ORANGE
Unstable
Thunderstorms probable
-7 to -6
RED
Highly unstable
Severe thunderstorms possible
less than -7
VIOLET
Extremely unstable
Violent thunderstorms, tornadoes possible

GFS:
The Global Forecast System (GFS) is a global numerical weather prediction computer model run by NOAA. This mathematical model is run four times a day and produces forecasts up to 16 days in advance, but with decreasing spatial and temporal resolution over time it is widely accepted that beyond 7 days the forecast is very general and not very accurate.

The resolution of the model horizontally, it divides the surface of the earth into 20 kilometre grid squares; vertically, it divides the atmosphere into 64 layers and temporally, it produces a forecast for every 3rd hour for the first 240 hours, after that they are produced for every 12th hour.
NWP:
Numerical weather prediction uses current weather conditions as input into mathematical models of the atmosphere to predict the weather. Although the first efforts to accomplish this were done in the 1920s, it wasn't until the advent of the computer and computer simulation that it was feasible to do in real-time. Manipulating the huge datasets and performing the complex calculations necessary to do this on a resolution fine enough to make the results useful requires the use of some of the most powerful supercomputers in the world. A number of forecast models, both global and regional in scale, are run to help create forecasts for nations worldwide. Use of model ensemble forecasts helps to define the forecast uncertainty and extend weather forecasting farther into the future than would otherwise be possible.

Wikipedia, Numerical weather prediction, http://en.wikipedia.org/wiki/Numerical_weather_prediction(as of Feb. 9, 2010, 20:50 UTC).