Understanding Risk Management in the DoD

Abstract

Although the Department of Defense's (DoD's) current risk management direction presents a comprehensive and robust approach to identifying, assessing, and managing risk, it does not adequately emphasize the interface between risk management and contract administration. In essence, a well- crafted, risk-appropriate contract can temper the sensitivity between technical risk and the probability of cost and schedule overruns, while a poorly crafted contract can actually increase the probability of cost and schedule overruns. By better linking sound risk management practices with sound contract administration practices, the DoD stands to continue being the bellwether federal agency for pushing the state-of-the-art in effective risk management.

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Document Details

Document Type
Technical Report
Publication Date
Jan 01, 2003
Accession Number
ADA423516

Entities

People

  • Mike Bolles

Organizations

  • Defense Acquisition University

Tags

Communities of Interest

  • Weapons Technologies

DTIC Thesaurus Topics

  • Acquisition
  • Business Administration
  • Case Law
  • Contract Administration
  • Contractors
  • Contracts
  • Defense Systems
  • Governments
  • Management Personnel
  • Military Acquisition
  • Procurement
  • Risk
  • Risk Analysis
  • Risk Management
  • Standards
  • United States
  • Weapon Systems

Readers

  • Aviation Safety Risk Assessment.
  • Defense Acquisition Program Management
  • Economics