Risk Management

Risk Management Independent Verification & Validation Program IVV 09-9 Revision: B Effective Date: February 19, 2009 DOWNLOADED AND/OR HARD COPY UNCONTROLLED Verify that this is the correct version before use. APPROVAL SIGNATURES Greg Blaney (original signature on file) IMS Representative DATE 02/19/2009 Revision Basic A B REVISION HISTORY Description of Change Author Initial Release Kenneth Costello Update terminology changed due to reKenneth engineering process Costello Changed “IV&V Facility” to “IV&V Stephanie Program” Ferguson Effective Date 01/24/2008 04/07/2008 02/19/2009 Document IVV QM IVV 16 NPR 1441.1 S3001 S3002 REFERENCE DOCUMENTS Title IV&V Quality Manual Control of Records NASA Records Retention Schedules Guidelines for Risk Management Risk Board Charter CHECK THE MASTER LIST at http://ims.ivv.nasa.gov VERIFY THAT THIS IS THE CORRECT REVISION BEFORE USE 1 of 6 Risk Management Independent Verification & Validation Program IVV 09-9 Revision: B Effective Date: February 19, 2009 1.0 Purpose The purpose of this system level procedure (SLP) is to establish a consistent and documented method of performing risk management within the NASA IV&V Program. The goals of risk management are to:    Identify factors that are likely to impact NASA IV&V Program/Project objectives in the areas of performance (quality), schedule, and cost Determine mitigation approaches to limit the impact of the identified factors Communicate factors and approaches for mitigation 2.0 Scope The guidelines in this document apply to risk management within the NASA IV&V Program, to include all Functional Organizations. Risk management is a means to anticipate, mitigate, and control risks, and to focus resources where needed to increase the overall success of the NASA IV&V Program. 3.0 Definitions and Acronyms Official NASA IV&V roles and terms are defined in the Quality Manual. Specialized definitions identified in this SLP are defined below. 3.1 Acronyms IMS NPR PITS QM RMS NASA IV&V Management System NASA Procedural Requirement Project Issue Tracking System Quality Manual Risk Management System CHECK THE MASTER LIST at http://ims.ivv.nasa.gov VERIFY THAT THIS IS THE CORRECT REVISION BEFORE USE 2 of 6 Risk Management Independent Verification & Validation Program IVV 09-9 Revision: B Effective Date: February 19, 2009 4.0 Process Flow Diagrams The following diagrams depict processes described in this document, and the responsibilities and actions that shall be performed by process participants. Any information supplemental to the depicted processes will appear after the diagrams. 4.1 Risk Responsibility IV&V Program Manager Functional Lead Functional Lead Functional Lead Functional Lead Project Lead Project Lead Project Lead Project Lead Project Lead Project Lead Project Lead Project Lead The IV&V Program Manager has overall responsibility for the execution of the NASA IV&V Program. Risk information is communicated at Senior Leadership meetings to assure that Risk Mitigation Planned Approaches are effective for dealing with risks. The Functional Lead has the overall responsibility of ensuring that risks are identified, documented, tracked, and approved within his or her respective Functional Organization Risk Board. For specific membership and administration, see S3002, Risk Board Charter. The Functional Lead is responsible for developing and maintaining a monthly Top Risk List. The Functional Lead is also responsible for managing his or her Functional Organization’s top risks, and for providing infrastructure and resources for risk management support. CHECK THE MASTER LIST at http://ims.ivv.nasa.gov VERIFY THAT THIS IS THE CORRECT REVISION BEFORE USE 3 of 6 Risk Management Independent Verification & Validation Program IVV 09-9 Revision: B Effective Date: February 19, 2009 The Project Lead is responsible for identifying, analyzing, monitoring, and communicating risks in regard to his or her projects. The Risk Management Team is the primary risk advisory body to the NASA IV&V Program for assessing risk and mitigation procedures. The Risk Management Team owns the risk management process and provides training on the implementation of that process. The Risk Management Team collects metrics to understand how well the process is working, and to identify any potential improvements in the process. CHECK THE MASTER LIST at http://ims.ivv.nasa.gov VERIFY THAT THIS IS THE CORRECT REVISION BEFORE USE 4 of 6 Risk Management Independent Verification & Validation Program 4.2 Risk Management PROJECT LEAD RISK MANAGEMENT TEAM IVV 09-9 Revision: B Effective Date: February 19, 2009 FUNCTIONAL LEAD RISK BOARD IV&V PROGRAM RISK REVIEW Develops Strategy Identifies Risks Analyzes and Prioritizes Risks NO NO Concurs with Risks YES Concurs with Risks YES NO High Priority Risks YES Reviews Risks NO YES Develops Risk Mitigation and Contingency Plans NO NO NO Concurs with Plan(s) YES Approves Plan(s) YES Reviews Plan(s) YES Communicates, Controls, Tracks Risks Assess Risk for Inclusion in Lessons Learned Database The goal of risk management is to manage risks at the level where budget and resources can be managed. For specific information regarding risk management, see S3001, Guidelines for Risk Management. CHECK THE MASTER LIST at http://ims.ivv.nasa.gov VERIFY THAT THIS IS THE CORRECT REVISION BEFORE USE 5 of 6 Risk Management Independent Verification & Validation Program 5.0 Metrics IVV 09-9 Revision: B Effective Date: February 19, 2009 Any metrics associated with this SLP are established and tracked within the NASA IV&V Metrics Program. 6.0 Records The following records will be generated and filed in accordance with this SLP and IVV 16, Control of Records, and in reference to NASA Procedural Requirement (NPR) 1441.1, NASA Records Retention Schedules. Record Name Risk Risk Board Action Item Spreadsheet Concurrence Checklist Risk Board Minutes Original Vital Y Y Y Y N N N N Responsible Person Project Lead Risk Management Team Risk Management Team Risk Management Team Retention Requirement Destroy when 7 yrs old (1/26.5A) Destroy when 7 yrs old (1/26.5A) Destroy when 7 yrs old (1/26.5A) Destroy when 7 yrs old (1/26.5A) Location PITS RMS Shared Network Drive Shared Network Drive Shared Network Drive CHECK THE MASTER LIST at http://ims.ivv.nasa.gov VERIFY THAT THIS IS THE CORRECT REVISION BEFORE USE 6 of 6