Abstract

Risk Management: The Practitioner's Perspective

Mark C. Stelling
Raytheon Space and Airborne Systems

Dr. Azad Madni, SDPS Fellow
Intelligent Systems Technology, Inc.

Abstract

Risk management is a discipline that, on the one hand, commands substantial attention and, on the other, is frequently misunderstood. In this paper, we delve into some of the reasons why this is so. Specifically, we present key perspectives on risk, the key differences between risks and issues, the possible ways of dealing with risk, the importance of a sound, resource-loaded Integrated Master Schedule in risk mitigation, and an effective risk management lifecycle that has been successfully adopted on major acquisition programs. We conclude with suggestions for risk management practitioners in government and industry.

From:

Stelling, M. and Madni, A.M., Proceedings of the Ninth World Conference on Integrated Design and Process Technology (IDPT 2006), San Diego, CA, June 25-30, 2006.