Buchanan was appointed by the Reds to carry out an independent review of its high performance rugby system after their worst-ever Super 12 campaign of just three wins from 11 matches and 10th placing.
Queensland have already lost several leading players led by Wallabies lock Nathan Sharpe to the Western Force and have the unwanted distinction of being the worst attacking side in a single Super 12 season.
Buchanan and PEP Management director Peter Phair will conduct extensive interviews with members of the Queensland Rugby Union (QRU) board through to schoolboy coaches, before handing over their report.
QRU chief executive Theo Psaros said Buchanan's report would help establish a long-term development program for Queensland rugby ahead of next year's inaugural Super 14 season.
"The purpose of this consultancy is not to solve the immediate challenge of winning Super 14 in the short term but to set strong foundations for a successful future," Psaros said.
"The recommendations will provide a strategic framework to take Queensland Rugby forward and to make the Reds a highly competitive team in the Super 14 series."
PEP Management has conducted similar reviews for the Australian Institute of Sport, the Queensland Academy of Sport and the Australian cricket team over the past year.