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U.S. Military Program Management by Rene G. Rendon, Gregory A. Garrett

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CHAPTER11

Understanding Risk Management in Department of Defense

By Mike Bolles

Although 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, DoD stands to continue being the bellwether federal agency for pushing the state ...

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