Inproceedings,

Continuous Risk Management at NASA

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Applied Software Measurement / Software Management Conference, San Jose, California, (February 1999)

Abstract

NPG 7120.5A, "NASA Program and Project Management Processes and Requirements" enacted in April, 1998, requires that "The program or project manager shall apply risk management principles…" The Software Assurance Technology Center (SATC) at NASA GSFC has been tasked with the responsibility for developing and teaching a systems level course for risk management that provides information on how to comply with this edict. This risk management structure of functions has been taught to projects at all NASA Centers and is being successfully implemented on many projects. The course was developed in conjunction with the Software Engineering Institute at Carnegie Mellon University, then tailored to the NASA systems community. This presentation will briefly discuss the six functions for risk management: (1) Identify the risks in a specific format; (2) Analyze the risk probability, impact/severity, and timeframe; (3) Plan the approach; (4) Track the risk through data compilation and analysis; (5) Control and monitor the risk; (6) Communicate and document the process and decisions. Finally, the presentation will give project managers the information needed to implement Continuous Risk Management successfully at a cost they can afford.

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