This Risk Management Plan (RMP) presents the process for implementing
proactive risk management as part of the overall management of the XYZ
program. Risk management is a program management tool to assess and mitigate
events that might adversely impact the program. Therefore, risk management
increases the probability/likelihood of program success. This RMP will:
- Serve as a basis for identifying alternatives to achieve cost, schedule,
and performance goals,
- Assist in making decisions on budget and funding
- Provide risk information for Milestone decisions, and
- Allow monitoring the health of the program as it proceeds.
The RMP describes methods for identifying, analyzing, prioritizing, and
tracking risk drivers; developing risk-handling plans; and planning for
adequate resources to handle risk. It assigns specific responsibilities for
the management of risk and prescribes the documenting, monitoring, and
reporting processes to be followed.
This is the second edition of the Risk Management Plan for the XYZ program.
The initial plan concentrated on the tasks within the Concept Refinement (CR)
and Technology Development (TD) Phases leading to Milestone B; this plan
concentrates on the tasks and activities of the System Integration part of the
System Development and Demonstration (SDD) Phase. Subsequent updates to this
RMP will shift focus to the later acquisition phases. There are changes in
every area of the plan; they include refinement of the risk identification
process. The PMO Risk Management Coordinator has been identified and training
of IPT members has commenced.