Integrated Risk Assessment (IRA)
EVM Terms
Reviewed by forProject Technology - updated Sep 2026
Quick definition: An Integrated Risk Assessment (IRA) is an analysis that combines a program's separate technical, schedule, and cost risk assessments into a single probabilistic view of overall program cost.
Rather than looking at technical, schedule, and cost risks in isolation, an IRA brings them together so their combined effect on program cost can be seen as one probability distribution. This gives management a more realistic picture than adding up separate, disconnected risk estimates, and it's closely tied to schedule-specific techniques like a Schedule Risk Assessment.
Why it matters
Risks rarely act independently -- a schedule slip often drives cost growth, and a technical problem can drive both. Integrating the assessments avoids underestimating overall program risk by treating these interactions as separate, unrelated numbers.
Also known as
N/A
Used in
Program risk management and cost estimating
FAQ
How is an IRA different from a Schedule Risk Assessment?
A Schedule Risk Assessment focuses specifically on schedule risk and its effect on dates; an IRA combines technical, schedule, and cost risk into one overall cost distribution.
What does an IRA produce?
A single probabilistic distribution of estimated program cost, reflecting the combined effect of technical, schedule, and cost risks.
Definition maintained by forProject Technology.
© 2026 forProject Technology, Inc.
© 2026 forProject Technology, Inc.
