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Started: 5/13/2019 3:24 PM
Picture Placeholder: JOANNE MACDONALD-MORROW
JOANNE MACDONALD-MORROW
Risk Management

What is the purpose of a risk statement and what three components should be included?

Picture Placeholder: JOANNE MACDONALD-MORROW
  • JOANNE MACDONALD-MORROW
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JOANNE MACDONALD-MORROW

What is the purpose of a risk statement and what three components should be included?

25/13/2019 3:24 PM5/13/2019 3:24 PMNoAsk the Community
44.7353113425926
10/20/2017 12:10 PM
Posted: 5/13/2019 6:28 PM
Picture Placeholder: BRIAN VANCE
BRIAN VANCE

The purpose of a risk statement is to determine a concise description of risk.  It must capture the activity or event that is causing conscern or a potential negative impact to the program, followed by the description of the expected consequence to the program.  The three components that must be included are conditions, consequence and timing.  ​

Picture Placeholder: BRIAN VANCE
  • BRIAN VANCE
/_layouts/15/images/person.gif" alt="Picture Placeholder: BRIAN VANCE" />
BRIAN VANCE

The purpose of a risk statement is to determine a concise description of risk.  It must capture the activity or event that is causing conscern or a potential negative impact to the program, followed by the description of the expected consequence to the program.  The three components that must be included are conditions, consequence and timing.  ​

JOANNE MACDONALD-MORROW6705/13/2019 6:28 PM5/13/2019 6:28 PM
7/31/2018 4:23 PM
Posted: 7/11/2019 2:35 PM
Picture: ADAM STROUP
ADAM STROUP
From the DoD Risk, Issue, and Opportunity Management Guide for Defense Acquisition Programs, para. 3.2.3, Risk Statement.  A good risk statement contains two elements: the potential event and the associated consequences. If known, the risk statement should include a third element:  an existing contributing circumstance (cause) of the risk.  Risk statements should define the potential event that could adversely affect the ability of the program to meet cost, schedule, and performance objectives. A structured approach for specifying and communicating risk helps prevent vague or inconsistent risk statements.  

Multiple approaches exist in writing a risk statement. As an example, an “if–then” format presents the possible risk event or condition (“if”) and the potential outcome or consequence(s) (“then”).  When possible, programs should use a single approach for consistency and should present each risk in a clear, concise statement. The risk statement should not include a potential risk mitigation strategy, other solution, or other extraneous information.  Personnally, I don't like the If-Then format although a few iterations of the RIO Guide ago, it was preferred.  
Picture: ADAM STROUP
  • ADAM STROUP
http://myad.dau.mil:80/User%20Photos/Profile%20Pictures/astroup_MThumb.jpg?t=63628988073" alt="Picture: ADAM STROUP" />
ADAM STROUP
From the DoD Risk, Issue, and Opportunity Management Guide for Defense Acquisition Programs, para. 3.2.3, Risk Statement.  A good risk statement contains two elements: the potential event and the associated consequences. If known, the risk statement should include a third element:  an existing contributing circumstance (cause) of the risk.  Risk statements should define the potential event that could adversely affect the ability of the program to meet cost, schedule, and performance objectives. A structured approach for specifying and communicating risk helps prevent vague or inconsistent risk statements.  

Multiple approaches exist in writing a risk statement. As an example, an “if–then” format presents the possible risk event or condition (“if”) and the potential outcome or consequence(s) (“then”).  When possible, programs should use a single approach for consistency and should present each risk in a clear, concise statement. The risk statement should not include a potential risk mitigation strategy, other solution, or other extraneous information.  Personnally, I don't like the If-Then format although a few iterations of the RIO Guide ago, it was preferred.  
JOANNE MACDONALD-MORROW6707/11/2019 2:35 PM7/11/2019 2:35 PM
7/11/2019 2:31 PM

 

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