Real Time Assessment is a term used in various fields, for example, in education, banking and taxation. It means ongoing, continual assessment in all instances. Here's a bit more detail of what the phrase means in two different fields:
Real Time Assessment in Education
In education, real time assessment means course work, essays and other assignments are used to evaluate students' progress rather than end-of-year exams. Assessments takes place across the academic year and this means the stress of exam time is much lessened.
Real Time Assessment in Taxation
In taxation, real time assessment means that businesses must complete ongoing assessment and pay their revenues little-by-little throughout the year as oppose to in one go at the end of the year. One benefit of this is that the accumulation of complicated calculations is avoided as taxes are sorted out steadily throughout the year.