Ensuring maximum safety while enhancing economic benefit is one of most important goal of In the of US Light Water Reactor Sustainability (LWRS) program. Optimization of the safety margins will provide best practice to achieve this goal which can also lead to cost reduction. Under the LWRS framework, the Risk-Informed Systems Analysis (RISA) Pathway has been focusing on the optimization of safety margin and minimization of uncertainties to ensure both safety and economics at the highest level. One of the important activities of the pathway is to deploy risk-informed analysis tools to related nuclear industry to support precise representation of safety margins and factors that contribute to cost and safety. The tools therefore need highest technical maturity so that industry can use immediately with strong credibility. The tools should have a capability to support risk-informed decision making for both probabilistic and deterministic elements of safety. The RISA Pathway, therefore, have been performing a comprehensive assessment of technical maturity and verification and validation (V&V) status of selected tools to improve adaptability to the industry. The technical maturity assessment includes three work scope: (a) define requirements based on risk-informed concept; (b) investigate and review development and V&V status for technical maturity assessment; and (c) identify technical gap and propose improvement to meet RISA toolkit requirements. The Requirement Traceability Matrix (RTM) concept was used to capture the requirements from user and developer of the project and/or software. The importance of each requirements was evaluated by Phenomena Identification and Ranking Technology (PIRT) which systematically gathers information and ranks the importance of the information. Finally, degree of the maturity was measured by Technology Readiness Level (TRL) for estimating the maturity of the technologies during the development and acquisition phase of certain technology. This paper summarizes development of assessment method and technical evaluation of multi-purpose probabilistic risk analysis tool RAVEN.