As far as I am aware there aren't any industry standards. From experience they seem to differ slightly depending on who you talk to. Smashing Magazine recently did a good article about logical breakpoints for responsive design.
Understand what resolutions the potential users of the system will be using. This should help inform your break points.
My point of view:
It's unlikely you can cover all scenarios, so design for those that offer a usable solution for each segment of your users.
Remember to consider the future. if the site is going to be around in the future consider how device resolutions will change and either take those into account while designing , or provide a system that is adaptable.
Using a responsive grid system, like that of Foundation 4 (as mentioned by Courtney), along with break points can be a nice solution but it really depends on your specific requirements. Regarding responsive frameworks, personally I've used Foundation and Bootstrap. I found them both useful, but it really does depend on exactly what you are trying to achieve, as to whether this is the correct approach for your project.