Abstract: Disclosed are a method and system for assessing the status of a project that remove subjectivity from the status reporting by implementing an algorithm to calculate red, yellow, green status of each of a multitude of keys and the overall project. The assessment uses a series of questions based on risk management, project management, system engineering, architecture, and testing disciplines to probe projects and solicit objective responses with scores and a conversion of the score into a red, yellow, green status. The advantage to this solution is that a consistent standard is provided, eliminating the accidental or purposeful exclusion of key details in status reporting that frequently result in a more optimistic status than what reality should reflect.