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A Practical Approach for Managing Risk

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Abstract

Although most programs and organizations implement some type of risk management approach, preventable failures continue to occur. Many of these approaches tend to be bureaucratic and time-intensive, which can consume valuable program resources. Most programs would benefit by improving, or in some cases replacing, their current risk management practices.    

The SEI Mission Success in Complex Environments (MSCE) project team develops practical and innovative methods and tools for measuring, assessing, and managing program risks. The team is currently developing Mosaic, a suite of methods that can be used to manage risk across the life cycle and supply chain. In contrast to traditional risk management approaches, Mosaic methods:

  • are straightforward and easy-to-apply
  • provide a success-oriented approach to risk management
  • ensure that an adequate breadth of risk factors are considered
  • are applicable in multi-system and multi-enterprise environments
  • provide results that enable effective decision making        

Mosaic enables decision makers to more effectively engage in the risk management process, navigate through a broad tradeoff space (including performance, reliability, safety, and security considerations), and strategically allocate their limited resources when and where they are needed the most. This presentation will present an overview of the Mosaic approach for managing risk and highlight twenty questions that all program managers should be able to answer about their programs' risks.

About the Speaker

Christopher J. Alberts Christopher J. Alberts
Audrey J. Dorofee Audrey J. Dorofee

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