Based on the approach described in SPE 26957, we developed an accurate physics-based model for PDC bit rate of penetration prediction (ROP). The model relies solely on known bit and rock parameters, providing forecast accuracy within tens of percent. Unlike existing approaches, our model does not require calibration coefficients that can vary by several orders of magnitude. The developed method models bit wear and accounts for its impact on ROP. The method has been successfully validated using actual field data.