--- sourceDocument: Australia Governance, Risk, and Compliance sourceDocumentLink: https://www.servicenow.com/docs/r/australia/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 in AI Risk and Compliance {#ariaid-title1} Release version: Australia Updated September 10, 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 in AI Risk and Compliance A risk assessment project in AI Risk and Compliance is a structured process that allows you to assess multiple risks and controls related to an AI asset simultaneously. It is especially useful in workshop-based Risk and Control Self-Assessment (RCSA) environments. This approach replaces manual data entry and fragmented workflows by offering a unified workspace that supports efficient data collection, collaborative stakeholder input, and automated reporting, resulting in faster, more accurate risk evaluations. Show full answer Show less ## Key Features * Enables simultaneous assessment of multiple risks and controls, streamlining the RCSA process. * Automated error handling with comprehensive error summaries to minimize inconsistencies and errors before finalizing assessments. * Facilitates collaboration by involving all necessary participants within the same project, reducing unnecessary communication delays. * Allows easy navigation across different assessment stages and access to multiple risks and controls without switching screens. * Provides detailed summary reports of assessment results for informed decision-making. * Simplifies collective sign-off on all risks within the project. * Offers quick access to reference information related to each risk via a sidebar panel. ## Roles and Personas Successful execution of a risk assessment project involves distinct personas and roles: * **Project Owner:** Creates and manages the project, defines scope, and identifies stakeholders. * **Assessor:** Performs detailed assessments of risks and controls, evaluates controls, and develops mitigation strategies. * **Approver:** Reviews and provides final approval or rejection for the risk assessments, ensuring completeness. Key roles to assign for permissions include: * Risk assessment project reader -- read-only access. * Risk assessment project user -- can create and manage own projects. * Risk assessment project manager -- full permissions to create, update, and delete any projects. Note: These roles must be assigned manually to users to enable proper project management capabilities. ## Practical Implications for ServiceNow Customers By using the risk assessment project feature in AI Risk and Compliance, you can significantly improve the efficiency and accuracy of your risk assessments related to AI assets. This capability helps reduce manual workload, ensures comprehensive stakeholder involvement, and provides clear, actionable insights through detailed reporting. Assigning the appropriate roles ensures secure and effective collaboration. Overall, it supports a more organized, transparent, and faster risk assessment process that aligns with enterprise governance and compliance requirements. You can perform assessments on multiple risks and controls simultaneously by creating a risk assessment project for an AI asset. This feature enables assessors to review multiple risks to understand their potential impact, likelihood, and associated mitigation strategies. ## Overview of a risk assessment project {#risk-assessment-project-airc__section_hdb_zmc_jhc} A Risk assessment project is a structured process designed to assess multiple AI asset 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. ## Benefits of a risk assessment project {#risk-assessment-project-airc__section_lfp_qmc_jhc} 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-airc__ul_l2v_rj3_2dc} ## Personas involved {#risk-assessment-project-airc__section_g55_smc_jhc} 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-airc__section_xxf_w4c_jhc} 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-airc__ul_ocm_hwk_ddc} Note: You must assign these roles manually to users to get the appropriate permissions for managing risk assessment projects. **Related concepts** * [Workflow of risk assessment project in AI Risk and Compliance](https://www.servicenow.com/docs/pOua3mWwj0msLJIH7YLFCw "The risk assessment project workflow is a structured process to assess multiple risks and controls of an AI asset simultaneously.") **Related tasks** * [Create bulk risk assessment](https://www.servicenow.com/docs/yJSyiJhz3WbWQ1d62LT6iQ "Create a bulk risk assessment project to perform assessments on multiple risks and controls simultaneously using the AI Risk and Compliance workspace. You can define the project context, including the assessable entity, Risk assessment methodology (RAM), project name, description, and identify and add stakeholders.") * [Perform bulk assessment in stacked view](https://www.servicenow.com/docs/eZPIIjCMO7kadtCeGYLvhQ "Perform assessments on multiple risks and controls simultaneously in a risk assessment project using AI Risk and Compliance 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 bulk assessment in grid view](https://www.servicenow.com/docs/qpTItEslOoaWriCGBs6swQ "Perform assessments on multiple risks and controls simultaneously in a risk assessment project in the grid view using AI Risk and Compliance 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.")