Assessing the impacts of projects that affect aquatic resources is an integral part of regulatory programs. The time, resource, and technical requirements of existing assessment methods often prohibit their routine use by regulatory staff. Consequently, many evaluations are based on area affected and best professional judgment. In this paper, we present a Rapid Impact Assessment Method (RIAM) that can be used to assess impacts to aquatic resources in a manner that is scientifically defensible, yet easy to implement by regulators, planners, and resource managers. The RIAM provides a framework for assessing impacts while allowing for specialization of evaluation criteria based on the habitat type, region of interest, and specific regulatory, planning, or management goal. Site-specific impacts are assessed by comparing the conditions present at each site prior to project implementation to conditions present after implementation of the project. A set of evaluation criteria is defined to reflect the important ecological characteristics to be evaluated. Each project site is given a pre-and post-project rating for each evaluation criterion, ranging from A for site conditions similar to those present at reference sites to E for the most degraded condition. Impact scores for each criterion, ranging from -4 to +4, are based on the difference between the pre-and post-project rating levels at each site. We demonstrate the application of the R/AM by using it to assess the impacts of projects permitted under Section 404 of the Clean Water Act on the following six evaluation criteria: endangered species habitat, structural diversity of habitat, spatial diversity of habitat, open space habitat, linear contiguity of habitat, and adjacent habitats. In the future, the method developed in this study can be used as a predictive tool to help monitor impacts on an ongoing basis.