Round tip roast, top round, and premium or choice rump roasts can all be roasted. Pikes Peak roast, eye of round roast, or select rump roast should be braised to break down the connective tissue they contain.
Insert a meat thermometer into the center of the meat (or use an instant-read thermometer). Place the roast on a roasting pan, fat side up, in a 325F (163C) oven. Roast 1 3/4 to 3 3/4 hours, depending on the size of the roast and the degree of doneness you prefer. To achieve the level of doneness you want, cook until the meat is 5 to 10 degrees below the desired temperature. The temperature for medium rare is 145F (63C), for medium 160F (71C), and for well done 170F (77C). When it is done, remove the roast and let it stand 15 to 20 minutes. The roast will continue cooking as it stands.
Heat oil in a heavy pan over the stovetop. Brown round roast on all sides. Lower heat and add cooking liquid and seasonings if desired. Cover, bring the liquid to a simmer, and cook over low heat on the stovetop or in the oven. Cook until the roast is fork-tender, 2 to 4 hours, depending on the size of the roast.