2.4.1 Characteristics of Acquisition
Acquisition programs tend to have numerous, often interrelated, risks. They are not always obvious; relationships may be obscure; and they may exist at all program levels throughout the life of a program. Risks are in the PMO (program plans, etc.); in support provided by other Government agencies; in threat assessment; and in prime contractor processes, engineering and manufacturing processes, and technology. The interrelationship among risk events may cause an increase in one because of the occurrence of another. For example, a slip in schedule for an early test event may adversely impact subsequent tests, assuming a fixed period of test time is available.
Another important risk characteristic is the time period before a risk future event occurs; because time is critical in determining risk-handling options. If an event is imminent, the PMO must resort to crisis management. An event that is far enough in the future to allow management actions may be controllable. The goal is to avoid the need to revert to crisis management and problem solving by managing risk up front.
An event's probability of occurrence and
consequences/impacts may change as the development process proceeds and
information becomes available. Therefore, throughout the development phase,
PMOs should reevaluate known risks on a periodic basis and examine the program
for new risks.