Actions for A risk assessment methodology and Excel tool for acquisition programs
A risk assessment methodology and Excel tool for acquisition programs / Lauren A. Fleishman-Mayer, Mark V. Arena, and Michael E. McMahon
- Author
- Mayer, Lauren A.
- Published
- Santa Monica, CA : RAND, 2013.
- Physical Description
- 1 online resource (44 pages)
- Additional Creators
- Arena, Mark V., McMahon, Michael E., Rand Corporation. National Security Research Division, Acquisition and Technology Policy Center, Rand Corporation, and United States. Department of Defense. Office of the Secretary of Defense
Access Online
- www.jstor.org , Open Access
- Restrictions on Access
- Open Access Unrestricted online access
- Contents
- Introduction -- Assessor tool methodology -- An example application of the risk assessor tool -- Further applications -- Conclusion.
- Summary
- Implementing risk management principles to manage large defense acquisition programs is a priority for the U.S. defense acquisition community. To assist those decisionmakers responsible for identifying the risk associated with major weapons programs, RAND researchers developed a methodology and accompanying Excel, information-based risk tool (the "Assessor Tool"). The Assessor Tool offers an Office of the Secretary of Defense (OSD)-level approach to the evaluation and measurement of system integration risk. That is, it is meant for assessors, such as OSD personnel, who may not be especially familiar with the specific program under evaluation but still may need to make judgments about the program's risk. It is based on a tractable and comprehensive set of questions that can help evaluate integration risk at each point in the acquisition process. More specifically, the tool enables users to see how well integration risk is being managed by providing a standards-based valuation of integration issues that can lead to cost growth, schedule growth, and program performance. The users' manual for the Assessor Tool is available in a companion document, An Excel Tool to Assess Acquisition Program Risk (by Lauren A. Fleishman-Mayer, Mark V. Arena, and Michael E. McMahon, TL-113-OSD, 2013). The Assessor Tool and its methodology may also be generalizable to an entire set of information-based risk assessment applications. Overall, the methodology and tool have many strengths, including being based on well-grounded theories, allowing for reproducibility and traceability, and the extensive flexibility to be used to evaluate risk for many different types of programs. To provide a benchmarking and validation of the risk scores calculated by the tool, future work could include the tool's validation by tracking its output against a program's performance.
Implementing risk management principles to manage large defense acquisition programs is a priority for the U.S. defense acquisition community. To assist those decisionmakers responsible for identifying the risk associated with major weapons programs, RAND researchers developed a methodology and accompanying Excel, information-based risk tool (the ѓ́ʻ⁺ѓAssessor Toolѓ́ʻ⁺ѓє́ћThe Assessor Tool offers an Office of the Secretary of Defense (OSD)-level approach to the evaluation and measurement of system integration risk. That is, it is meant for assessors, such as OSD personnel, who may not be especially familiar with the specific program under evaluation but still may need to make judgments about the programѓ́ʻ⁺ѓє́#x9C;s risk. It is based on a tractable and comprehensive set of questions that can help evaluate integration risk at each point in the acquisition process. More specifically, the tool enables users to see how well integration risk is being managed by providing a standards-based valuation of integration issues that can lead to cost growth, schedule growth, and program performance. The usersѓ́ʻ⁺ѓє́#x9C; manual for the Assessor Tool is available in a companion document, An Excel Tool to Assess Acquisition Program Risk (by Lauren A. Fleishman-Mayer, Mark V. Arena, and Michael E. McMahon, TL-113-OSD, 2013). The Assessor Tool and its methodology may also be generalizable to an entire set of information-based risk assessment applications. Overall, the methodology and tool have many strengths, including being based on well-grounded theories, allowing for reproducibility and traceability, and the extensive flexibility to be used to evaluate risk for many different types of programs. To provide a benchmarking and validation of the risk scores calculated by the tool, future work could include the toolѓ́ʻ⁺ѓє́#x9C;s validation by tracking its output against a programѓ́ʻ⁺ѓє́#x9C;s performance. - Report Numbers
- RAND/RR-262-OSD
- Subject(s)
- United States. Department of Defense—Appropriations and expenditures
- United States. Department of Defense—Procurement—Costs—Evaluation—Methodology
- United States. Department of Defense
- Systems integration—Risk assessment—Methodology
- Weapons systems—United States—Costs—Forecasting
- TECHNOLOGY & ENGINEERING—Military Science
- Expenditures, Public
- United States—Armed Forces—Weapons systems—Costs—Evaluation—Methodology
- United States
- Genre(s)
- ISBN
- 9780833084804 (electronic bk.)
0833084801 (electronic bk.)
0833080601
9780833080608 - Note
- "RAND National Security Research Division."
"This research was conducted within the Acquisition and Technology Policy Center of the RAND National Defense Research Institute"--Preface.
Title from title screen (viewed on October 24, 2013). - Bibliography Note
- Includes bibliographical references (pages 25-26).
View MARC record | catkey: 27977167