M3 Playbook > Phase 1: Readiness > 1.4 Establish Customer Risk Processes
1.3 Establish Customer Governance Structure and Processes
1.5 Develop Life Cycle Cost in the Business Case
1.4 : Establish Customer Risk Processes
Program Management
Objective
Establish a plan to manage and identify risks that supports risk mitigation throughout the implementation.
View Lessons LearnedRecommended Best Practices
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Customer
Establish risk management process, roles / responsibilities for identifying and mitigating risk
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Customer
Develop and employ mitigation strategies continuously throughout Phase 1
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Customer
Update RAID Log (Risks, Actions, Issues, Decisions) biweekly throughout Phase 1 with activities / status
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Customer
Regularly report new and ongoing risks/issues in leadership meetings and thru reports/dashboards
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Customer
Update Risk Management Plan as needed
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Customer
Document actions and decisions in the RAID log
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Customer
Assess risk regularly
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Customer
Update the Project Business Case
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Customer
Complete the Investment Readiness Checklist
1.4 Lessons Learned
- Assign a risk manager early and clearly define risk management roles and responsibilities
- Train implementation team on identifying risks, documenting mitigation plans, and escalating effectively to leadership
Stakeholders
Recommended stakeholders, inputs, & outputs may vary by implementation; however, agencies that contributed to this Playbook reported these factors as increasing the likelihood of success.Customer
- Executive Sponsor
- Business Owner
- Program Manager
- Risk Manager
- PMO Lead
- PMO Team
Inputs
- Program Charter
- Governance Plan
- Program Management Plan
- Initial Master Schedule
- Project Business Case
