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Technical Note

Common Elements of Risk

  • April 2006
  • By Christopher J. Alberts
  • This technical note begins to define a foundation for effective risk management by identifying the basic elements of risk and exploring how these elements can affect the potential for mission success.
  • Publisher: Software Engineering Institute
    CMU/SEI Report Number: CMU/SEI-2006-TN-014
  • Abstract

    Traditionally, responsibility for completing a mission and the resources needed to pursue it aligned with organizational boundaries. However, key drivers in the business environment, such as the globalization of business and the fast pace of technological change, have resulted in increased outsourcing and partnering among organizations. It is now common for multiple organizations to work collaboratively in pursuit of a single mission, which creates a degree of programmatic and process complexity that can be difficult to manage effectively. In today's business environment, management and staff must be able to deal with intricate and unclear interrelationships and dependencies among technologies, data, tasks, activities, processes, and people. Mission success in these complex environments requires people to sort through the inherent complexity when making important decisions. Effective risk management that is based on a solid conceptual foundation is an essential part of this decision-making process. This technical note begins to define this foundation by identifying the basic elements of risk and exploring how these elements can affect the potential for mission success.

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Cite This Report

SEI

Alberts, Christopher. Common Elements of Risk. CMU/SEI-2006-TN-014. Software Engineering Institute, Carnegie Mellon University. 2006. http://resources.sei.cmu.edu/library/asset-view.cfm?AssetID=7899

IEEE

Alberts. Christopher, "Common Elements of Risk," Software Engineering Institute, Carnegie Mellon University, Pittsburgh, Pennsylvania, Technical Note CMU/SEI-2006-TN-014, 2006. http://resources.sei.cmu.edu/library/asset-view.cfm?AssetID=7899

APA

Alberts, Christopher. (2006). Common Elements of Risk (CMU/SEI-2006-TN-014). Retrieved December 04, 2016, from the Software Engineering Institute, Carnegie Mellon University website: http://resources.sei.cmu.edu/library/asset-view.cfm?AssetID=7899

CHI

Christopher Alberts. Common Elements of Risk (CMU/SEI-2006-TN-014). Pittsburgh, PA: Software Engineering Institute, Carnegie Mellon University, 2006. http://resources.sei.cmu.edu/library/asset-view.cfm?AssetID=7899

MLA

Alberts, Christopher. 2006. Common Elements of Risk (Technical Report CMU/SEI-2006-TN-014). Pittsburgh: Software Engineering Institute, Carnegie Mellon University. http://resources.sei.cmu.edu/library/asset-view.cfm?AssetID=7899

BibTex

@techreport{AlbertsCommonElements2006,
title={Common Elements of Risk},
author={Christopher Alberts},
year={2006},
number={CMU/SEI-2006-TN-014},
institution={Software Engineering Institute, Carnegie Mellon University},
address={Pittsburgh, PA},
url={http://resources.sei.cmu.edu/library/asset-view.cfm?AssetID=7899} }