ABSTRACT
Risks associated with programs meeting requirements and schedules are unavoidable, and so it is important to plan accordingly. One way to do this is by doing a risk assessment, which recognizes, quantifies, and tracks each risk until it is mitigated or overcome by events. Risk assessment starts with and continues through all phases of the program life cycle. Aspects of risk assessment flow into the evaluation of every change to functional requirements, into allocation of the changes, as well as into implementation of the changes. Once the likelihood of a risk occurring and the risk impact scoring have been defined, they are multiplied together to obtain a “summary score.” One of the risks identified is commonality of units, terms, and dates. Not all risks can be identified at the start of a program. The original risk assessment was overcome by the events, necessitating a new business model and assessment of new risks associated with it.
