Take your prime rib out of the refrigerator at least two hours before you plan to cook it. This allows the meat to come to room temperature, which is the most important step for ensuring even cooking throughout the entire roast. If the meat is too cold, the outside will overcook before the center reaches the proper temperature.
In a small bowl, whisk together the olive oil, minced garlic, rosemary, thyme, parsley, salt, and black pepper. Stir until it forms a thick paste. This mixture will act as the flavor base for the entire roast and help create that signature holiday crust.
Pat the roast completely dry with paper towels. Rub the garlic herb paste all over the meat, making sure to cover the ends and the fat cap. Place the roast in a heavy roasting pan with the bone side down, which acts as a natural roasting rack.
Preheat your oven to 450 degrees Fahrenheit. Place the roast in the oven for 15 to 20 minutes. This high heat blast locks in the juices and starts the browning process for the herb crust. Watch closely to ensure the garlic does not burn.
Turn the oven temperature down to 325 degrees Fahrenheit. Pour the beef broth into the bottom of the pan to keep the environment moist. Continue roasting until a meat thermometer inserted into the thickest part of the beef reaches 120 degrees for rare or 130 degrees for medium rare. This usually takes about 15 minutes per pound.
Remove the roast from the oven and transfer it to a cutting board. Tent it loosely with foil and let it rest for at least 30 minutes. This step is non negotiable, as it allows the juices to redistribute so they do not run out when you slice the meat.