1. Make a list of what you want the students to accomplish through your assignment.
2. Organize your list from most important to least important.
3. Decide on an overall point value for the assignment.
4. Assign each item on your ranked list a percentage value out of 100 percent.
5. Multiply your total point value from step 3 by each item's assigned percentage to arrive at the point value for that item.
6. On a fresh sheet of paper, write the name for each item on your list in order from most to least important. Make sure to leave room in between each category.
7. Assign specific grading criteria for each main category from step six.
8. Distribute or display the rubric to the students when you are explaining the assignment.
9. Attach a copy of the rubric filled in with the student's scores to his/her graded work once it is completed.

Tips:

Definitely know what your categories will be before you make your assignment.
The upfront time in creating the rubric more than pays off in the reduced time it takes to grade the assignment.
Related Features:
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Kelly, M. (2005, December 3). Writing Rubrics for Grading. Rubic Revelation. Retrieved December 12, 2005, from http://712educators.about.com/library/howto/htrubric.htm