Applying Risk Management: From Theory to Practice (APPEL- RMTP)

Upon completion of this course, participants will be able to:

• Demonstrate understanding of the close interconnections among the management of risk and the pursuit of the organizational objectives.
• Describe the need for, and benefits of, an integrated and cross-organizational implementation of RM.
• Select and apply RM processes and steps that fit the type of objective and execution activity being addressed.
• Identify applicable RIDM and CRM processes for Programmatic and Institutional Domain activities at various stages of initiation and execution.
• Construct a mission/activity objectives hierarchy, and identify performance measures and imposed constraints for key mission objectives.
• Conduct Activity-Planning RIDM.
• Identify possible mission alternatives and set the risk-informed mission analysis framework.
• Execute a risk analysis of expected mission performance.
• Define mission/activity risk posture with recommended risk tolerances.
• Compare risk profiles, recommend an alternative, and document the rationale.
• Conduct CRM.
• Develop risk statements using a standardized format.
• Analyze and rank individual risks, using both probabilistic and heuristic approaches.
• Aggregate individual risks in order to determine the aggregate risk to an affected objective, using both probabilistic and heuristic approaches.
• Propagate aggregate risk from lower levels to higher levels of an objectives hierarchy, using a heuristic approach.
• Conduct Activity-Execution RIDM using both probabilistic and heuristic approaches.
• Propagate risk from programs, projects, centers, and facilities to the Agency level.