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Enhance Program Management
Manage Risk and Change
Risk is inherent and change is inevitable in most human endeavors. Understanding that eliminating risk is simply not feasible, successful program managers focuses on anticipating, identifying and mitigating risks. Leading practices in performance-based management include planning for and addressing risk and change with a focus on impacts to goals, objectives, and overall success. Ideally, you and your contractor will collaborate on risk and change management planning at the beginning of the program life cycle to afford the best opportunity to identify, assess, and mitigate risks well before events occur. Program risks generally fall into four categories: technical, program stability, programmatic, and cost and schedule risks. An effective Risk Management Plan (RMP) not only identifies risks in these areas, but it also addresses each risk's probability of occurrence, impact, and level. Risk management planning includes identifying, analyzing, and planning responses to potential risks. Developing an RMP is a recommended best practice for all programs. Moreover, major programs (those that require submission of OMB Circular A-11 Exhibit 300s) require an RMP for each of 19 categories of risk. The DoD 5000 Series also mandates a structured approach to managing risk as part of the program management framework in the Defense context. An effective RMP covers the following topics:
The presence of risk and change within your program does not automatically signal failure. Environmental, political, financial, and regulatory factors all impact the work of your program team. Early and thorough planning, regular monitoring, and objective evaluation can help minimize the negative impact of risk and change and enable your program to continue to support the agency's mission. |
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