Track 3: An Integrated Approach to Risk Management and Risk Assessment

This paper describes the work performed by the Air Force Aeronautical Systems Center (ASC) Integrated Risk Management (IRM) team in implementing the DoD risk management structure1. It also describes the implementation of the Aeronautical Systems Center's Integrated Risk Assessment (IRA) approach. This paper discusses the three parts of an integrated risk assessment: the Technical Assessment, the Schedule Assessment and the Cost Estimate. It covers their interaction and interrelationship and the tools used in accomplishing each of the three parts. The highlights of several different risk assessments performed at ASC are presented to show contrasting implementations of the IRA approach.