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Written by lotus
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Saturday, 30 July 2005 |
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Page 13 of 22
5. Risk Management Tools
The primary functions for the risk management tools are to assist in the assessment
of risks, to assure that risk assessments address all pertinent aspects of the
program and to provide specific means of overcoming the underlying bases for
the risks. The WBS, SOW and Proposal are recommended as structures for assessing
risks. Make-or-buy decisions, development tests and engineering analyses are,
of course, means of mitigating the risks by overcoming inexperience and/or a
lack of knowledge of specific issues.
The key to assessing risks is to identify any and all aspects of the program
with some degree of newness. If this goal is accomplished then virtually all
risks have been identified. The recommended review process is to have every
functional element of the organization and the primary support organizations
review every WBS element, every SOW paragraph and every proposal paragraph.
Each reviewing organization will provide an item-by-item summary identifying
items of on impact, items of concern and items that definitely involve new aspects.
Normally, these reviews are performed by the appropriate organizations as "homework"
prior to the program manager's Risk Reviews.
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Last Updated ( Saturday, 08 April 2006 )
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