Risk Management II (APPEL-RM II)
This course is designed for NASA's technical workforce, including systems engineers and project personnel who seek to develop the competencies required to succeed as a leader of a project team, functional team, or small project.
This two-day course builds on the knowledge of NASA's approach to managing risk provided in RM I. It provides an opportunity to evaluate and practice application of the Risk Informed Decision Making (RIDM) and Continuous Risk Management (CRM) in the context of NASA projects and programs.
Attendees use a threaded case study to perform all elements of the risk management process within a systems engineering context and following the guidance in the NASA Risk Management Handbook (NASA/SP-2011-3422 V1.0). Analysis and discussion of each step prepares attendees for determination of the key considerations for application on projects and programs in their home organization.
The course design integrates two complimentary risk management processes: Risk Informed Decision Making (RIDM) and Continuous Risk Management (CRM).
Upon completion of this course participants will be able to:
- Describe a process for reconciliation of divergent stakeholder objectives.
- State risk models appropriate for selected Performance Measures.
- Explain a probabilistic evaluation of alternative solution performance projections.
- State the content of a Technical Basis for Deliberation (TBfD) for inputs to decision analysis.
- Evaluate performance commitments for selected alternatives given stakeholder risk tolerances.
- Clearly state for the decision-maker the advantages and disadvantages of alternatives from a risk informed decision making perspectives.
- Design the RIDM process into the requirements management baseline development.
- Assess identified risks to determine their tactical and strategic importance to prioritize for management action.
- Compare and contrast the differences between individual and aggregate risks.
- Use a graded approach to develop workable models for aggregate performance risks.
- Examine risk drivers for identified risks and their impact on the integrated risk model.
- Apply risk planning methods and techniques to develop specific risk handling actions.
- Evaluate tracking data to determine whether risk responses are implemented and effecting the anticipated changes in targeted risk drivers and performance risk Assess the impact of specific risks to program objectives.
- Recommend documentation and reporting characteristics for risks.
- Describe the advantage, use, and application of database tools for the capture, tracking, and reporting of risks.
Competencies and Technical Areas Addressed
- Technical Risk Management
- Stakeholder Management
- Risk Management I (RMI)
- Review of the NASA Risk Management Handbook Version 1.0, published November 2011.
This course is registered by the Project Management Institute (PMI) for 15 Professional Development Units (PDUs). PMI Course ID: APPEL - RM II