A risk assessment methodology and Excel tool for acquisition programs
Implementing risk management principles to manage large defense acquisition programs is a priority for the U.S. defense acquisition community. To assist those decisionmakers responsible for identifying the risk associated with major weapons programs, RAND researchers developed a methodology and acco...
| Main Authors: | , , |
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| Format: | eBook |
| Language: | English |
| Published: |
Santa Monica, CA
RAND
2013, 2013
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| Subjects: | |
| Online Access: | |
| Collection: | JSTOR Open Access Books - Collection details see MPG.ReNa |
| Summary: | Implementing risk management principles to manage large defense acquisition programs is a priority for the U.S. defense acquisition community. To assist those decisionmakers responsible for identifying the risk associated with major weapons programs, RAND researchers developed a methodology and accompanying Excel, information-based risk tool (the "Assessor Tool"). The Assessor Tool offers an Office of the Secretary of Defense (OSD)-level approach to the evaluation and measurement of system integration risk. That is, it is meant for assessors, such as OSD personnel, who may not be especially familiar with the specific program under evaluation but still may need to make judgments about the program's risk. It is based on a tractable and comprehensive set of questions that can help evaluate integration risk at each point in the acquisition process. More specifically, the tool enables users to see how well integration risk is being managed by providing a standards-based valuation of integration issues that can lead to cost growth, schedule growth, and program performance. The users' manual for the Assessor Tool is available in a companion document, An Excel Tool to Assess Acquisition Program Risk (by Lauren A. Fleishman-Mayer, Mark V. Arena, and Michael E. McMahon, TL-113-OSD, 2013). The Assessor Tool and its methodology may also be generalizable to an entire set of information-based risk assessment applications. Overall, the methodology and tool have many strengths, including being based on well-grounded theories, allowing for reproducibility and traceability, and the extensive flexibility to be used to evaluate risk for many different types of programs. To provide a benchmarking and validation of the risk scores calculated by the tool, future work could include the tool's validation by tracking its output against a program's performance |
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| Item Description: | "RAND National Security Research Division.". - "This research was conducted within the Acquisition and Technology Policy Center of the RAND National Defense Research Institute"--Preface. - Title from title screen (viewed on October 24, 2013) |
| Physical Description: | 44 pages |
| ISBN: | 0833080601 9780833080608 |