The program review process described in this report was developed at Anchorage Community College (ACC) after 3 years of experimentation and adjustment. Following a brief overview of the factors that instigated the effort, the report sets forth the assumptions and definitions underpinning the review process. Next, a series of suggestions are presented for educators interested in developing a formative review process, followed by a schedule of review tasks and a statement on the composition of the review committee. The report then outlines the performance criteria in the assessment of program quality; i.e., clear program goals; goal-congruent, instruction-related activities; consistency of the program with students' educational intent; integration of the curriculum with that of other programs and the institution as a whole; satisfactory vertical mobility (i.e., articulation with other ACC or university programs); effective personnel utilization; cost effectiveness; and strategic advantage. The next section identifies program review outcomes which include a program review data sheet containing information on enrollment history, student demographics, staffing patterns, degrees/certificates patterns, demand for the program, student follow-up, grades, staff development, budget, equipment, facilities, related programs, accreditation, and advisory committee liaison; and a status report placing the program in a positive, conditional, probation, or terminal category. Finally, a program review manual provides additional detail on the process, staff responsibilities, and the data sheet. (AYC)