The grading rubric for a C++ programming assignment totals 100 points and evaluates submissions based on specifications (60 points), readability (10 points), reusability (5 points), documentation (10 points), delivery/timeliness (up to 15 points off for late submissions), and efficiency (15 points). The specifications criteria focuses on the program working correctly and meeting all requirements, while efficiency considers optimized code without sacrificing readability or error handling.