This technique suggests an approach to risk planning; the process of developing and documenting an organized, comprehensive approach. It also suggests interactive strategy and methods for identifying and tracking risk drivers, developing risk-handling plans, performing continuous assessments to determine how risks have changed, and planning adequate resources. The risk planning technique is applicable to all functional areas in the program, especially critical areas and processes. Using the acquisition strategy as a starting point results in the development of a program risk management strategy, from which flows a management plan that provides the detailed information and direction necessary to conduct an effective management program. This risk management plan provides the PM with an effective method to define a program, one that fixes responsibility for the implementation of its various aspects, and supports the acquisition strategy.
The technique should first be used in the Concept and Technology Development (CTD) Phase following the development of the initial acquisition strategy. Subsequently, it may be used to update the management plan on the following occasions: (1) whenever the acquisition strategy changes, or there is a major change in program emphasis; (2) in preparation for major decision points; (3) in preparation for and immediately following technical audits and reviews; (4) concurrent with the review and update of other program plans; and (5) in preparation for a PMO submission.
The PMO risk management coordinator, if assigned,
develops the risk management plan based on guidance provided by the PM, and
coordinating with the Program Level IPT. To be effective, the PM must make
risk management an important program management function and must be actively
involved in the risk planning effort. Planning requires the active
participation of essentially the entire PMO and contractor team.