Some Project Risk Management Links
A few web links
are given below that point to useful documents or web sites.
Dr. Edmund H. Conrow and Dr.
Robert N. Charette, “Opportunity Management:
Be Careful What You Ask For,” Defense AT&L, Defense
Acquisition University, March-April, 2008. pp. 16-19. The article critically evaluates opportunity
management (OM). The article discusses
that good risk management (RM) is not negative—it is positive and seeks to
identify alternatives, increase program success, etc. Risk management works with project management and systems
engineering to balance cost, performance, schedule, and risk. However, there is no universal definition of
opportunity, and OM adds another layer of bureaucracy, competes for scarce
resources, and opportunities always contain risk yet this is rarely analyzed or
discussed “up front.” While OM may be
helpful prior to program initiation, analyzing low risks, and in the
sustainment phase, it cannot be universally applied, as can risk
management. Go to the following URL to
download this article:
Opportunity Management: Be Careful What You Ask For
Defense Acquisition University
"Risk Management Guide for DoD Acquisition," Fifth Edition, Version
2.0, June 2003. The DAU/DSMC risk
management guide is the single best introductory document on project risk
management as applied to Department of Defense projects that exists. The
material contained in this guide is also directly applicable to a wide variety
of commercial projects, including those far from the defense sector. (Dr.
Edmund H. Conrow is a contributing author of this document.) Go to the following URL to download the
current version of the guide:
Risk Management Guide for DoD Acquisition, Fifth Edition, Version 2
Defense Acquisition
University, "U. S. Department of Defense Extension to (the Project
Management Institute): "A Guide to the Project Management Body of
Knowledge" (PMBOK® Guide), First Edition, Version 1, June 2003.
The Defense Extension includes
enhancements to the Project Management Body of Knowledge Guide, including a number
of upgrades to the Risk Management Chapter 11 (as well as other Guide
chapters), plus five new chapters on systems engineering management, software
acquisition management, logistics management, test and evaluation management,
and manufacturing management. (Dr. Edmund H. Conrow is the primary author of
the risk management chapter (11) of this document.) Go to the following URL to download the current version of the
guide:
U.S. DoD Extension to PMBoK ® Guide
Dr. Robert N. Charette, Laura Dwinnell, John McGarry, “Understanding the
Roots of Process Performance Failure,” CrossTalk, The Journal of Defense
Software Engineering, August 2004, pp.
18-24. This article summarizes how the results
of a Department of Defense (DoD) cross-program systemic analysis help provide
insight into the causes of recurring process shortfalls in DoD programs. The article (which I highly recommend)
discusses how risk management, systems engineering, and project management
processes are often not well implemented on DoD programs. (For example: “We
have found that many best practices such as IPTs, risk management, or
measurement are not being implemented properly on DoD programs, and as a result
may cause more problems than they solve.”
“Risk management is performed on most programs, but we found that
it is mainly for show. Risks are not communicated and the identified risks
frequently do not influence program decision making. management chapter (11) of
this document.) Go to the following URL
to download this article:
Understanding the Roots of Process Performance Failure
Air Force Space and Missile
Systems Center, "Systems Engineering Primer & Handbook," Third
Edition, July 2005. This Systems Engineering
handbook is written to provide SMC personnel with fundamental systems
engineering concepts and techniques as they apply to space, launch, and ground
control systems and the SMC environment. The intended audience includes the
project officer, junior systems engineer, an engineer in another discipline
that must perform Systems Engineering functions, or the experienced engineer
who needs a suitable reference. The
authors recognize that systems engineering subject matter is very broad and
that approaches to performing systems engineering vary greatly. This exposition
is not intended to cover them all. It addresses general concepts and common
processes, tools, and techniques that are mostly familiar to SMC. It also
provides information on recommended systems engineering practices and pitfalls
to avoid. Many references are provided for the reader to consult for more
in-depth knowledge. (Dr. Edmund H. Conrow is the primary author of the
risk management section of this document.)
The file
provided is the 1 July 2005 update which includes corrections vs the initial
printing of 29 April 2005. Two separate
URLs are provided for download.
Defense Acquisition University Systems Engineering Community of Practice:
Air Force SMC Systems Engineering Primer & Handbook, Third Edition, 2005
Click on the ZIP
file (AFSMC_SEP&H_Third_Edition_2005.zip) and download it to your
computer. Expand the ZIP file to yield
the underlying PDF file.
Software
Engineering Institute:
Air Force SMC Systems Engineering Primer & Handbook, Third Edition, 2005
Clicking on this
link will download the PDF file directly.
Defense Acquisition
University, "Systems Engineering Fundamentals," January 2001. The Fundamentals of Systems Engineering currently
available reflects the 5000 series changes as of January 2001. Topics include
the systems engineering process; system analysis and control; and planning for,
organizing, and managing systems. The guide provides a basic, conceptual-level
description of Systems Engineering as it relates to the development and life
cycle management of a system--including basic concepts, problem-solving, tools
to balance the process, and issues integral to the Systems Engineering
effort. Go to the following URL to
download the document:
System Engineering Fundamentals (January 2001)
Edmund H. Conrow, et. al.,
"Risk Management Critical Process Assessment Tool," Air Force Space
and Missile Systems Center, Second Edition, 14 August 1998. The second
edition of the risk management CPAT is compatible with the DoD "Risk
Management Guide for DoD Acquisition," and contains recommended language
for the Statement of Objectives, Proposal Preparation Instructions for Section
L, and Evaluation Factors for Award (Section M) for risk management in the
RFP/proposal/source selection process. The risk management CPAT also includes
questions for evaluating post-award risk management performance. You may
download the file directly from Air Force Space and Missile Systems Center:
Risk Management Critical Process Assessment Tool, Version 2
If the AFSMC web site is down, you may
download the file in Zip format (4rskcpv2.zip) by clicking on the following
link within the www.risk-services website:
Risk Management Critical Process Assessment Tool, Version 2
Real Options Valuation web site.
Real Options Valuation
is a software, training, and consulting firm specializing in state-of-the-art
decision and risk analysis tools and techniques such as Real Options Analysis,
Monte Carlo Simulation, Forecasting, Optimization, Statistics and Risk
Modeling. Our products include Risk Simulator, a risk analysis,
simulation, forecasting and optimization software; Real Options SLS, a
flexible and customizable strategic real options software; and Employee
Stock Options Valuation Toolkit, a 2004 FAS 123 valuation software. We also
provide consulting and training services, as well as a Training DVD set for
individual study.
Real Options Valuation, Inc. Web Site
Decisioneering web site. Decisioneering is a key source for risk analysis
software and solutions. Go to the following URL to jump to Ed Conrow listing on
Decisioneering, then visit other portions of this web site:
Edmund H. Conrow, Consultants Corner Decisioneering
Palisade web site. Palisade is a key source for risk analysis software
and solutions. Go to the following URL to jump to Palisade and scroll down to
Ed Conrow listing, then visit other portions of this web site:
Edmund H. Conrow, Consultants Directory Palisade
Risk World web site. Risk World, which "covers news and views on risk
assessment and management," contains a lot of risk management-related
information. Although much of this information is associated with health,
insurance, and safety, rather than project risk management, there is
nevertheless much useful information for the practitioner on this site. Go to
the following URL to jump to Risk World:
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Links to Project Risk Management Services |
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Risk Management Links |
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Second Edition of Dr. Conrow's Risk Management Book with Reviews |
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Risk Management e-Interview by International
Council on Systems Engineering |
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Links to Other Services |
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