Description:In this seminar we will discuss Risk Management, Issue Management, and Opportunity Management, and how they can be integrated into the Program Office.
Each program has a risk profile that changes over time. Think of the risk profile as a graph of the amount of uncertainty about a program’s outcomes. As we progress through the phases of a program—defining requirements, conducting trade studies, defining concepts and preliminary designs, completing detailed designs, building prototypes and conducting tests—what we really are doing is removing uncertainty from the program. That uncertainty encompasses the performance of the product, its cost and how much time is needed to develop and produce the product. We can be surprised at any point in this process. Some surprises can be handled in stride, and some may lead to major setbacks and a restructuring or even cancellation of the program. It is our job to anticipate those surprises, assess their likelihood and their impacts and, most of all, do something either to prevent them or, if they do occur, to limit their impacts.
With RM, you want to plan for as much as possible but be prepared for the unexpected, and always look for not just problems, but opportunities.
We’ll touch on opportunities throughout the day… RM isn’t just about planning for the bad stuff, but should include looking at possible opportunities and the risks associated with those opportunities.
Mr. Darren Rhyne, Professor of Engineering Management, DAU Capital and Northeast Region
After a 20-year career in space technology program management and intelligence career fields in the U.S. Air Force, with his last assignment at DAU, Professor Rhyne has taught Systems Engineering and Science & Technology courses at DAU as a civilian since 2012. He also teaches DAU's Risk Management Workshop (WSM 002) and Systems Engineering Planning Workshop (WSE 005) plus moderates the Science and Technology Management Community of Practice. He has a BS in Mechanical Engineering with a Minor in History from North Carolina State University and a MS in International Relations with National Security Concentration from Troy University. Darren lives on a hobby farm in central Pennsylvania with his wife of 26 years, many animals, and his children and grandchildren. He volunteers as a board member for the Union County PA Historical Society and the Mifflinburg Buggy Museum.
Connect with Darren on LinkedIn: Linkedin.com/in/Darren-rhyne-93204417
Additional Sources for further study:
DAU Systems Engineering Brainbook Risk Management page https://www.dau.edu/tools/se-brainbook/Pages/Management%20Processes/Risk-Management.aspx
CACQ 004 Introduction to Risk, Issue, & Opportunity Management Credential https://icatalog.dau.edu/onlinecatalog/CredentialConceptCard.aspx?crs_id=7
PMT 0170 Risk Management OLT (8 hrs / 8 CLPs) https://icatalog.dau.edu/onlinecatalog/courses.aspx?crs_id=12362
WSM 002 Risk Management Workshop (7 CLPs) https://icatalog.dau.edu/onlinecatalog/courses.aspx?crs_id=1630
DAU Webcast: Effectively Evaluating Risk through Factors (source selection) https://www.dau.edu/events Webcasts - Effectively Evaluating Risk through Factors