Risk Management Toolkit

Process Assets

Standard Process

Definitions:
Timeframe

Risk Management home

Definition's page

Process Assets
Standard Process
  • Definitions
  • Steps of Process
  • Tailoring Guidelines

    • Compliance

  • Self Assessment
  • Compliance Process
  • CMMI Risk Management Goals
  • Risk Review

    Policy

  • AF Policy Directive 90-9: Operational Risk Management, 1 April 2000
  • AFI 90-901: Operational Risk Management, 1 April 2000
  • AFMC Instruction 90-902: Operational Risk Management, Dec 2007

    Support Assets
    Procedures

  • Affinity Diagrams
  • Brainstorming
  • Risk Plotting
  • Risk Statements

    Taxonomies

  • Individual
  • Consolidated
  • Risk Areas

    Tools & Techniques

  • RiskNav
  • Risk Matrix
  • Risk Radar
  • Cost Risk and Uncertainty - Chapter 14, GAO Cost Estimating and Assessment Guide, Mar 09

    Training

  • Risk Process Orientation
  • Detailed Risk Process
  • Facilitator Training

    Examples

  • Sample Risk Management Plan
  • Process Lessons Learned

    		•   

    Note: Timing is generally used in ARM as a tie breaking mechanism. ORM does not identify a time window.

    Timeframe Suggested Definition
    Near Earliest risk occurrence is within 180 days of present date
    Midterm Earliest risk occurrence is between 181 and 365 days of present date
    Far Earliest risk occurrence is beyond 365 days of present date

    Timeframe Ratings and Definitions
    A timeframe is assessed for each identified risk. Risk timeframe refers to the time during which a risk, if it occurs, will impact the project. This rating is assessed according to the project-defined guideline in the following table.

    Rating Interpretation Equivalent Numerical Value
    Short A risk is short-term if the project will be impacted by the risk, if it occurs, in the next 30 days. Defaults: 0.65, 0.83, 0.95
    Range: 0.65 < Allowable Value < 1
    Medium A risk is medium-term if the project will be impacted by the risk, if it occurs, in the next 30 to 60 days. Defaults: 0.35, 0.50, 0.60
    Range: 0.35 < Allowable Value < 0.65
    Long A risk is long-term if the project will be impacted by the risk, if it occurs, beyond the next 60 days. Defaults: 0.05, 0.18, 0.30
    Range: 0 < Allowable Value < 0.35

    Reference: Garvey, Paul R., "Implementing a Risk Management Process for a Large Scale Information System Upgrade - A Case Study", INCOSE Insight, May 2001, p.7.



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