--- sourceDocument: Australia Governance, Risk, and Compliance sourceDocumentLink: https://servicenow-prod.fluidtopics.net/r/governance-risk-compliance Release : - australia ft:locale : - en-US ft:publication_title : - Australia Governance, Risk, and Compliance ft:clusterId : - grc bundleId : - grc workflow : - Technology --- # Risk assessment project # Risk assessment project {#ariaid-title1} * Release version: Australia * * Updated March 12, 2026 * * ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 2 minutes to read Summarize ![AI sparkle icon](https://servicenow.com/docs/portal-asset/ai-sparkle-icon) Summarized using AI This content was generated using new OpenAI-powered functionality. Results are provided on an as is basis and are not guaranteed to be accurate or complete. ## Summary of Risk Assessment Project A Risk Assessment Project is designed to evaluate multiple risks and controls simultaneously, particularly within workshop-based RCSA (Risk and Control Self-Assessment) environments. This approach replaces manual data entry and fragmented workflows by enabling efficient data collection, collaborative stakeholder input, and automated reporting. It streamlines coordination, accelerates processes, and enhances data accuracy by providing a unified workspace for reliable risk evaluation. Note that this functionality is exclusively supported in Risk Workspace. Show full answer Show less ## Key Features * **Simultaneous Assessments:** Evaluate multiple risks and controls at once, saving time on data collection. * **Automated Error Handling:** Reduces errors and inconsistencies with comprehensive error summaries prior to finalization. * **Collaborative Participation:** Involves all necessary stakeholders, minimizing unnecessary interactions. * **Streamlined Navigation:** Seamlessly navigate between different stages of assessments without switching screens. * **Detailed Reporting:** Generates comprehensive summary reports on assessment outcomes. * **Unified Sign-off Process:** Simplifies the approval of all risks within the project. * **Reference Access:** Provides sidebar access to reference information related to each assessed risk. ## Key Outcomes The Risk Assessment Project enhances efficiency and accuracy in evaluating risks, leading to better-informed decision-making and alignment with organizational goals. It allows for continuous reassessment to adapt to new insights or changing conditions and facilitates smooth transitions by enabling reassignment of assessors across multiple projects. ## Personas Involved * **Project Owner:** Manages project setup, stakeholder identification, and scope definition. * **Assessor:** Conducts evaluations of risks and controls and formulates risk response strategies. * **Approver:** Reviews assessments and provides final approval or rejection. ## Roles Required * **Risk Assessment Project Reader:** Read-only access to projects. * **Risk Assessment Project User:** Ability to create and manage their own projects. * **Risk Assessment Project Manager:** Full management capabilities for all risk assessment projects. ## Workflow of Risk Assessment Project The workflow involves creating a risk assessment project to define the context and stakeholders, performing assessments in both stacked and grid views, reassessing completed projects for alignment with organizational goals, and allowing for reassignment of assessors as needed. You can perform assessments on multiple risks and controls simultaneously by creating a risk assessment project. Risk assessment project enables assessors to review multiple risks and controls to understand their potential impact, likelihood, and associated mitigation strategies. ## Overview of a risk assessment project {#risk-assessment-project__section_o4b_3yh_2dc} A Risk assessment project is a structured process designed to assess multiple risks and controls simultaneously, particularly within workshop-based RCSA (Risk and Control Self-Assessment) environments. It replaces manual data entry and fragmented workflows by enabling efficient data collection, collaborative input from stakeholders, and automated reporting. A Risk assessment project simplifies coordination, speeds up processes, and improves data accuracy by providing a unified workspace for evaluating risks collectively and reliably. Note: Assessment of multiple risks and controls is supported only in Risk Workspace. ## Benefits of a risk assessment project {#risk-assessment-project__section_jpq_3j3_2dc} The following are the key benefits of a risk assessment project: * Simplifies the RCSA process by enabling multiple risks and controls to be assessed at the same time, which saves time on manual data collection. * Reduces the chances of errors and inconsistencies by using automated error handling and providing comprehensive error summaries before finalizing assessments. * Reduces unnecessary back-and-forth interactions among stakeholders by involving all required participants in the assessment project. * Enables navigation between different stages of risk assessments and access multiple risks and controls simultaneously, without switching screens. * Provides detailed summary reports on the assessment results. * Simplifies the process of signing off on all the risks together within the project. * Enables access to reference information related to each risk in the sidebar panel. {#risk-assessment-project__ul_l2v_rj3_2dc} ## Personas involved {#risk-assessment-project__section_q3d_tzh_2dc} The following personas are involved with the risk assessment project: Project owner : The project Owner creates and manages the risk assessment project. It includes setting up the project context, identifying relevant stakeholders, and defining the scope of risks that must be assessed. Assessor : The project assessor performs assessment on multiple risks and controls within the risk assessment project. They analyze each risk, evaluate the effectiveness of existing controls, and create risk response strategies. Approver : The Project Approver reviews the completed risk assessments and provides the final sign-off on the project. They ensure that all scoped risks have been assessed and either approve or reject the risk assessment. ## Roles required {#risk-assessment-project__section_pbz_z23_2dc} The following roles are required for a risk assessment project: * Risk assessment project reader \[sn_risk_advanced.risk_asmt_project_reader\]: Provides read-only access to the risk assessment projects. * Risk assessment project user \[sn_risk_advanced.risk_asmt_project_user\]: Provides the ability to create risk assessment projects and update or delete only the projects created by the user. * Risk assessment project manager \[sn_risk_advanced.risk_asmt_project_manager\]: Provides the ability to create, update, and delete any risk assessment projects. {#risk-assessment-project__ul_ocm_hwk_ddc}For more information, see [Roles installed with the GRC Risk Workspace](https://servicenow-prod.fluidtopics.net/hFajmPNesPDxT0pH9uOobA "The GRC: Risk Workspace application installs the roles for Operational risk manager and IT risk manager for the users to perform their respective tasks."). * **[Workflow of risk assessment project](https://servicenow-prod.fluidtopics.net/IfcRv8pOdzJErOB0nVgBwg)** The risk assessment project workflow is a structured process to assess multiple risks and controls simultaneously using Risk Workspace. * **[Create a risk assessment project](https://servicenow-prod.fluidtopics.net/sYR5FjBvcDHEy03vgEhWDw)** Create a risk assessment project to perform assessments on multiple risks and controls simultaneously using Risk Workspace. You can define the project context, including the assessable entity, Risk assessment methodology (RAM), project name, description, and identify and add stakeholders. * **[Perform assessment on a risk assessment project in stacked view](https://servicenow-prod.fluidtopics.net/W78F6KyXYkqaWT7qJQqcxA)** Perform assessments on multiple risks and controls simultaneously in a risk assessment project using Risk Workspace. You can assess inherent risks, effectiveness of controls, residual risks, and target risks. You can define risk responses that enable you to manage and mitigate the risks identified during the risk assessment process. * **[Perform assessment on a risk assessment project in grid view](https://servicenow-prod.fluidtopics.net/yJfok7dvAIbz_hLEArxENw)** Perform assessments on multiple risks and controls simultaneously in a risk assessment project using the grid view. You can assess inherent risks, effectiveness of controls, residual risks, and target risks. You can define risk responses that enable you to manage and mitigate the risks identified during the risk assessment process. * **[Reassess a risk assessment project](https://servicenow-prod.fluidtopics.net/tIMhT2pHhX7ygAzQOiZbXQ)** Reassess a risk assessment project to assess any completed risk assessment project. It verifies that risks are reviewed and updated to reflect new insights or changing conditions, maintaining alignment with organizational goals. * **[Reassign assessor for a risk assessment project](https://servicenow-prod.fluidtopics.net/qFgdrynJPSkRXGx39ZMvJQ)** Reassign assessors for multiple in-progress risk assessment projects simultaneously to minimize disruptions during stakeholder transitions. **Related concepts** * [Workflow of risk assessment project](https://servicenow-prod.fluidtopics.net/IfcRv8pOdzJErOB0nVgBwg "The risk assessment project workflow is a structured process to assess multiple risks and controls simultaneously using Risk Workspace.") **Related tasks** * [Create a risk assessment project](https://servicenow-prod.fluidtopics.net/sYR5FjBvcDHEy03vgEhWDw "Create a risk assessment project to perform assessments on multiple risks and controls simultaneously using Risk Workspace. You can define the project context, including the assessable entity, Risk assessment methodology (RAM), project name, description, and identify and add stakeholders.")