A power controlled sub-band assignment and power allocation among users in a multiband UWB system aims to reduce power consumption without compromising performance. The overall transmit power is minimized under the practical constraints, including packet error rate, transmission rate, and FCC regulations. To insure the system feasibility in variable channel conditions, an optimization scheme manages the assignment of UWB devices to respective channels subject to their suitability to the requested users' transmission rates. An inexpensive suboptimal approach reduces the complexity of the optimization procedure and achieves a comparable performance to those of the complex full search optimization routine. The suboptimal scheme obtains the feasible solutions adaptively when the channels assignment, initially calculated under the optimization criteria, is not feasible for the user's rate requirement.