RISK MANAGEMENT and RM Tools 2 May 2007 INCOSE – Newport News, VA Chapter

2 2 May 2007 RISK MANAGEMENT

3 2 May 2007 Risk Management Focus PM / project risk Operational Risk Mgt ORM R&E Technical Risk (Grounding Bulletins)

4 2 May 2007 Why Risk Management? Cost Schedule Technical Performance

5 2 May 2007 Comprehensive Risk Management Planning and Organizing RMP Risk Mgt Plan Risk Board Process Policy and Guidance NAVAIRINST A RM Guide for DoD Acquisition Tools & Training Integrated and Stand-Alone Risk Mgt Tools NAVAIR Class Desk training DAU

6 2 May 2007 Evolution of Risk Management Ancient Risk Management 20 th Century Risk Mgt 21 th Century Risk Mgt

7 2 May 2007 RISK TOOLS

8 2 May 2007 Consequence vs. Likelihood Mnemonics

9 2 May 2007 Risk Project Summary Home Page

10 2 May 2007 Risk Item Description

11 2 May 2007 Initial Risk Assessment

12 2 May 2007 Risk Mitigation Plans

13 2 May 2007 View Risk Details

14 2 May 2007 Risk Summary Reports

15 2 May 2007 Risk Reports by Team or Category

16 2 May 2007 Risk Tool Benefits Risk Item database provides single source for risk item workflow tracking Enable 1 or more mitigation strategy plan and implementation tracking Facilitate Risk Board Review Reports –Standardized –Ad Hoc

17 2 May 2007 Risk Board Reports – Watch List

18 2 May 2007 Risk Board Reports – No Mitigation Plan

19 2 May 2007 Benefits of RiskExchange Implementation of RiskExchange in PMA has provided several benefits in the Risk Management Program –Consistent data and severity analysis across the PMA –Improved configuration management of risk reporting –Centralized database for risk management information Provides better accessibility to data Reporting and search tools Fosters cross IPT communication –Web-based application is easy to deploy Access on or off-base Little to no training required John Kovach, Northrop Grumman NAVAIR PMA Support

20 2 May 2007 Conclusions Risk Management makes good business sense Any tool is better than no tool SERC and NSERC provide turn-key access to web-based Risk Management Tools with database administration support and training

21 2 May 2007 Law of Unanticipated Consequences

22 2 May 2007 Questions? Scott McLellan Director of Aviation Programs Linkage between program requirements and risk management can help avoid unintended end results!