Make the Prime Rib Rub:

1. In a small bowl, mix salt, black pepper, garlic powder, onion powder, rosemary, thyme, smoked paprika, and mustard powder.
2. Stir until evenly combined. Store in an airtight container if making in advance.

Prepare the Prime Rib:

1. Remove the prime rib from the fridge and let it sit at room temperature for 1 hour.
2. Pat the roast dry with paper towels.
3. Rub olive oil over the entire surface of the meat.
4. Generously coat the prime rib with the prepared rub, pressing it into the meat to adhere.

Cooking the Prime Rib (Oven Method):

1. Preheat oven to 450°F (232°C).
2. Place the prime rib on a rack in a roasting pan, fat side up.
3. Roast for 20 minutes at 450°F to develop a crust.
4. Reduce the oven temperature to 325°F (163°C).
5. Continue roasting for 15 minutes per pound, or until the internal temperature reaches:
   • 120°F for rare
   • 130°F for medium-rare
   • 140°F for medium
6. Remove the roast from the oven and tent it loosely with foil.
7. Let it rest for 20–30 minutes before slicing to allow juices to redistribute.

Cooking the Prime Rib (Grill Method):

1. Preheat your grill to indirect heat (300°F–325°F).
2. Place the seasoned prime rib on the cooler side of the grill and cover.
3. Cook for 15 minutes per pound, monitoring the internal temperature.
4. Once 10°F below your desired doneness, sear over direct heat for 2-3 minutes per side.
5. Remove from the grill, rest for 20 minutes, then slice and serve.