RAG stands for Red, Amber, and Green. It is a system that is used to classify and report the status of a project or task. In a RAG system, the status of a project or task is typically represented by one of three colors:
Red: The project or task is at risk of not meeting its objectives or is experiencing significant problems or delays.
Amber: The project or task is progressing as expected, but there are some issues or risks that need to be monitored or addressed.
Green: The project or task is on track and is meeting its objectives.
The RAG system is a simple and effective way to communicate the status of a project or task and to highlight any areas that may require attention or intervention. It is often used in conjunction with a project dashboard or other reporting tool to provide a high-level overview of a project's progress.