This paper, combining a critical compilation with new calculations, provides revised comprehensive lists of recommended energy levels, observed spectral lines, and transition probabilities in the spectrum of quadruply ionized iron (Fe V). The new level optimization made in this work is based on critically assessed uncertainties of about 2000 wavelengths previously measured with grating spectrographs. For 80% of energy levels, relative uncertainties have been reduced by a factor of three on average, compared with previously reported uncertainties. For 65% of observed lines, uncertainties of the new Ritz wavelengths are smaller than those of observed wavelengths by a factor of four on average.