Risk Management

It has been acknowledged that the implementation of convergence can create extraordinary efficiencies or unexpected inefficiencies. It takes trained and experienced professionals to help organizations meet the new demands of convergence. Convergence creates unanticipated risk to organizations that may not be aware of hidden pitfalls that can become insurmountable issues later.

According to the DoD, risk is a measure of future uncertainties in achieving program performance goals and objectives within defined cost, schedule and performance constraints. Risk includes at a minimum: technology maturity, supplier capability, infrastructure design maturity, network implementation reliability, and key performance parameter achievement. Risk management addresses the potential variation in planned approaches mapped against expected outcomes. Contingency requirements in all governmental agencies demand risk management planning and implementation.

ConvergeITS principals have deep experience with risk management methodologies. We envision risk management as the overarching process for any organization, program, or component project that encompasses identification, analysis, mitigation planning, mitigation plan implementation, and tracking. Our principals have proven track records implementing risk management plans.

The ConvergeITS risk methodology is a best-value cost approach which includes four (4) major focus areas in the development of a risk management plan (RMP). This includes: (1) Definitions, (2) Risk Management Strategy and Approach, (3) Organizational Responsibilities, and (4) Risk Management Process and Procedures. There are four (4) overarching strategic functions in the ConvergeITS risk management methodology: (1) Risk Planning, (2) Risk Analysis/Assessment, (3) Risk Handling, and (4) Risk Monitoring, as well as the requirements for a Risk Management Information System (RMIS).

The ConvergeITS risk management strategy is designed to ensure the government and contractor teams identify both technical and non-technical critical areas and risk events. Our approach is to align an organization for continuously identifying and measuring the unknowns; developing mitigation options; selecting, planning, and implementing appropriate risk mitigations; and tracking the implementation to ensure successful risk reduction.

The unanticipated risk that convergence creates is approached by ConvergeITS principals through developing strategies with leadership for rapid and efficient implementation. Successful risk management depends on collaborative knowledge gleaned from assessments of all aspects of the program coupled with appropriate mitigations applied to the specific root causes and consequences.