A Technology Readiness Assessment (TRA) is a systematic, metrics-based process that assesses the maturity of, and the risk associated with, critical technologies to be used in Major Defense Acquisition Programs (MDAPs). It is conducted by the Program Manager (PM) with the assistance of an independent team of subject matter experts (SMEs). It is provided to the Assistant Secretary of Defense for Research and Engineering (ASD(R&E)) and will provide part of the bases upon which he advises the Milestone Decision Authority (MDA) at Milestone (MS) B or at other events designated by the MDA to assist in the determination of whether the technologies of the program have acceptable levels of risk—based in part on the degree to which they have been demonstrated (including demonstration in a relevant environment)—and to support risk-mitigation plans prepared by the PM. The plan for conducting a TRA is provided to the ASD(R&E) by the PM upon approval by the Component Acquisition Executive (CAE).
A TRA is required by Department of Defense Instruction (DoDI) 5000.02 for MDAPs at MS B (or at a subsequent Milestone if there is no MS B). It is also conducted whenever otherwise required by the MDA.
Instructions for conducting TRAs are contained in "Technology Readiness Assessment (TRA) Guidance", April 2011, revision posted 13 May 2011, prepared by the ASD(R&E): http://www.acq.osd.mil/rd/publications/index.html