DoD Risk Management

How are things going?

  • Communicate risks to affected stakeholders
  • Monitor risk plans
  • Review status through event driven technical reviews and a Risk Management Board
 

What can go wrong?

  • Study the WBS and SOW
  • Examine lessons learned
  • Review IPT's areas of responsibilities
  • Ask "why" multiple times

How big is the risk?

  • Consider the likelihood of the root cause occurrence
  • Identify possible consequences in terms of cost, schedule, performance

What will you do about it?

  • Eliminate the root cause
  • Control the root cause or consequence
  • Transfer the risk
  • Assume the level of risk

Risk has three components:

  • A future root cause
  • A probabilty (likelihood) of the future root cause occurring
  • The consequence (or effect) of the future occurrence
  
 

How is the planned risk mitigation being implemented?

  • Determine what planning, budget, and requirements changes are needed
  • Provide a coordination vehicle with management and other stakeholders
  • Document changes
     

View DoD Risk Reporting Matrix