2.2 RISK MANAGEMENT STRATEGY
The basic risk management strategy is intended to identify critical areas and risk events, both technical and non-technical, and take necessary action to handle them before they can become problems, causing serious cost, schedule, or performance impacts. This program will make extensive use of modeling and simulation, technology demonstrations, and prototype testing in handling risk.
Risk management will be accomplished using the integrated Government-Contractor IPT organization. These IPTs will use a structured assessment approach to identify and analyze those processes and products that are critical to meeting the program objectives. They will then develop risk-handling options to mitigate the risks and monitor the effectiveness of the selected handling options. Key to the success of the risk management effort is the identification of the resources required to implement the developed risk-handling options.
Risk information will be captured by the IPTs in a risk management information system (RMIS) using a standard Risk Information Form (RIF). The RMIS will provide standard reports, and is capable of preparing ad hoc tailored reports. See Annex B for a description of the RMIS and RIF.
Risk information will be included in all program
reviews, and as new information becomes available, the PMO and contractor will
conduct additional reviews to ascertain if new risks exist. The goal is to be
continuously looking to the future for areas that may severely impact the