Public policies are structured by policy designs that communicate the key elements, linkages, and underlying logic through which policy objectives are to be realized. This paper operationalizes and integrates core concepts from the institutional analysis and development framework, including the institutional grammar, the rule typology, action situations, and levels of decision making, to provide a systematic approach for analyzing policy designs. The approach is illustrated through an application to the United States Department of Agriculture’s National Organic Program regulation, which outlines an unusual semi-voluntary regulatory program that relies on independent third-party organizations for Program administration. The conclusion identifies opportunities and a research agenda for the institutional analysis of policy designs.