Team Risk Mgt

Team Risk Management

Team risk management means that all stakeholders in the success of a project are involved in the process of continuous risk management. This does not necessarily mean that all risks are shared with all stakeholders. For many reasons, not the least commercial confidentiality, it is often necesssary to maintain several virtual risk registers with access controls defining privileges.

The principal element of the Team Risk Management Approach is that all stakeholders take part in the risk management process. The Carnegie Mellon University/Software Engineering Institute CMU/SEI have identified the nine principles of Team Risk Management as follows (from their document CMU/SEI-94-SR-1)

Principle		Effective risk management requires:
1	Routine and continuous processes	A continuous vigilance characterized by routine risk identification and management activities throughout all phases of the life cycle of the program.
2	Systematic and adaptable methodology	A systematic approach that is adaptable to the program’s infrastructure and culture
3	Proactive strategies	Proactive strategies that involve planning and executing program activities based upon anticipating future events
4	Integration into program management	That risk management be an integral and vital part of program management.
5	Systems perspective	That software development be viewed in within the larger systems-level definition, design, and development.
6	Value of Individual perception	The individual voice which can bring unique knowledge and insight to the identification and management of risk.
7	Open Communications	A free flow of information at and between all program levels through formal, informal, and impromptu communication and consensus-based processes.
8	Forward-looking search for uncertainties	Thinking towards tomorrow, anticipating potential outcomes, identifying uncertainties, and managing program resources and activities while recognizing these uncertainties.
9	Shared product vision	A shared vision for success based upon commonality of purpose, shared ownership, and collective commitment.