Lagan Valley MP Sir Jeffrey Donaldson is considered the front-runner to replace Edwin Poots as the next DUP leader.
He lost out to Mr Poots in the DUP's first ever leadership contest, but he would be considered best placed to unify the party after the recent turmoil.
Based on the pace of change after Arlene Foster was ousted, a new party leader could be in place in just over a fortnight.
Mr Poots was elected leader in a contest in which only the party's 28 MLAs and eight MPs were permitted to vote.
If there is more than one contender, another party leadership contest could follow the same format.
However, party officers may consider widening the electorate to include DUP peers, councillors or party members.
This could give a new leader a greater mandate and avoid the internal divisions of the past two months which were exposed after Mr Poots' razor-thin victory over Sir Jeffrey.
The leadership contest vote would then be ratified at a meeting of the party executive held at a later date.
While Mr Poots has nominated Paul Givan as First Minister and appointed a new Stormont Executive team, a new leader could decide to reshuffle their frontbench.
Mr Givan's resignation would trigger a seven-day time frame for the DUP and Sinn Féin to re-nominate to their respective Executive posts of first and deputy first minister.
If either party failed to re-nominate, a properly functioning executive would not be able to be formed and the UK government would assume a legal responsibility to call a snap Assembly election.
