WBB's Thought Leadership

Case Study: Navy: Risk Management Program for PEO LCS Mission Module Program (PMS 420)

August 12

CHALLENGE:

  • To identify potential risks to the Program Executive Office, Littoral Combat Ships (PEO LCS) Mission Module program for the Navy, both technical and non-technical in nature.
  • Initiate and track necessary action to manage potential risks before they can become problems that negatively impact program cost, schedule, and performance objectives.

SOLUTION:

  • Maintain database of program risks in web-based application (Risk Exchange) to maintain risk data and manage all aspects of risk from initial identification, through mitigation, to retirement.
  • Schedule, prepare the brief,  and facilitate monthly Risk Management Board meetings where program risks (cost, schedule, performance) and mitigation plans (actions and timelines for risk reduction) are briefed to Program Office leadership for review, approval, and, when necessary, reallocation of resources.

CLIENT RESULTS:

  • Structured, recurring process to review program risks, actions taken, and achieved effects.  Provides the basis for re-allocation of resources in a balanced manner to achieve program cost, schedule, and performance objectives.
  • 2013 Performance:
    • Risks in Portfolio: 63 / month
    • 26 Nr Risks Retired
    • 41 New Risks Added

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