In its plan to combat the PhD shortage crisis, the Association to Advance Collegiate Schools of Business International (AACSB; 2003) has called for the development of PhD program rankings to serve as incentives for academic institutions to invest more in PhD programs, thereby counterbalancing the disproportionate influence of master of business administration (MBA) rankings on business schools. The author reports on the development of a unique multiattributes approach for objectively ranking PhD programs. The advantage of this approach is an inherently broader consideration for the indicators of quality and reputation of a program as measured by the accomplishments of its graduates. By combining multiple attributes into a ranking metric, this approach emphasizes research quality that is in line with the recommendation stated by the AACSB (2003). Also, because the multiattributes approach incorporates data that is readily available, PhD program rankings can be more efficiently updated annually. (Contains 2 tables.)