Risk assessment project in AI Risk and Compliance

  • Release version: Australia
  • Updated March 12, 2026
  • 2 minutes to read
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    Summary of Risk assessment project in AI Risk and Compliance

    A risk assessment project in AI Risk and Compliance enables simultaneous evaluation of multiple risks and controls associated with an AI asset. Designed to support workshop-based Risk and Control Self-Assessment (RCSA) environments, it replaces manual and fragmented processes with a unified, collaborative workspace. This structured approach improves efficiency, data accuracy, and reporting by streamlining data collection and stakeholder involvement.

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    Key Features

    • Assess multiple risks and controls concurrently, saving time and effort.
    • Automated error handling and comprehensive error summaries reduce inaccuracies before finalizing assessments.
    • Collaborative involvement of all relevant stakeholders minimizes unnecessary communication loops.
    • Seamless navigation across different assessment stages and risks without switching screens.
    • Access to reference information for each risk via a sidebar panel.
    • Detailed summary reports on assessment outcomes.
    • Simplified collective sign-off process for all risks within the project.

    Personas Involved

    • Project Owner: Creates and manages the project scope, context, and stakeholder identification.
    • Assessor: Performs assessments on multiple risks and controls, evaluates controls, and develops response strategies.
    • Approver: Reviews completed assessments and provides final approval or rejection.

    Roles Required

    To manage risk assessment projects, users must be assigned appropriate roles manually:

    • Risk assessment project reader: Read-only access to projects.
    • Risk assessment project user: Can create and modify projects they own.
    • Risk assessment project manager: Full privileges to create, update, and delete any risk assessment projects.

    Practical Impact for ServiceNow Customers

    By leveraging risk assessment projects, organizations can conduct comprehensive AI risk evaluations more efficiently and accurately. This leads to better risk understanding, improved compliance workflows, and streamlined stakeholder collaboration. Assigning the correct roles ensures secure and proper management of the assessments. Overall, this feature enhances your AI risk management processes by delivering faster, more reliable, and easily auditable assessments.

    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

    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

    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.

    Personas involved

    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

    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.
    Note:
    You must assign these roles manually to users to get the appropriate permissions for managing risk assessment projects.