Project Rapid Risk Assessment

Overview of the Rapid Risk Assessment (RRA)

If your project is experiencing high levels of defects, stakeholder dissatisfaction, budget overruns, or schedule delays, a comprehensive risk assessment can help identify the root causes of these issues. By pinpointing sources of variance and implementing targeted mitigations, you can get your project back on track.

Our RRA is a comprehensive project review that combines the best practices of an Independent Verification & Validation (IV&V) assessment, project risk assessment, and project assurance review. The IT project review is grounded in a 400-point, 35-category framework designed to evaluate every aspect of your project.

The RRA is completed in 3-4 weeks, depending on the complexity of the project, and includes the following steps:

  1. Defining the scope and goals of the assessment

  2. Establishing meaningful metrics with stakeholders

  3. Conducting interviews with key stakeholders and implementation teams

  4. Reviewing contracts and deliverables completed to date

  5. Assessing project management processes and methodologies

  6. Analyzing implementation processes and practices

  7. Evaluating technology, tools, and supporting processes

  8. Reviewing schedules, budgets, and staffing plans

  9. Examining risk management processes and their effectiveness

Why Perform an RRA

By leveraging our Rapid Risk Assessment, your organization gains a clear path to improve your project’s trajectory, improve its outcomes, and ensure delivery success.

  • Early project readiness planning

  • Minimize Uncertainty

  • Stay on Budget

  • Boost Efficiency

  • Enhance Stakeholder Confidence

  • Ensure Project Compliance with Standard Implementation Practices

Outcomes of the RRA

The RRA delivers actionable insights to help your project succeed. Key benefits and deliverables include:

  • Identification of risks and issues: A detailed analysis of risks affecting your project.

  • Risk analysis: Prioritization of risks based on likelihood and potential impact.

  • Mitigation recommendations: Clear, prioritized guidance for addressing risks.

  • Metrics dashboard: A draft, Excel-based dashboard for tracking process improvements and project health.

  • Comprehensive final report: An in-depth document summarizing findings, risks, and recommendations.

  • Presentation of findings: A structured presentation to stakeholders to ensure alignment and understanding.

Click the buttons below to learn more about our Rapid Risk Assessments and how your projects can benefit from one.