A method for preparing a femur and a tibia for receipt of a partial knee prosthesis. The method includes the following: positioning a femoral engagement member of a femoral drill guide proximate to the femur; positioning a tibial engagement member of the femoral drill guide proximate to the tibia; moving an adjuster associated with the femoral drill guide to translate at least one of the femoral engagement member or the tibial engagement member against the femur or tibia respectively to widen a joint space defined between the femur and the tibia; drilling holes in the femur using the femoral drill guide as a reference; coupling a tibial cut guide to the femoral drill guide; making a first cut in the tibia by referencing the femoral drill guide; and making a second cut in the tibia by referencing the tibial cut guide.