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M3 Playbook > Phase 2: Selection > 2.4 Maintain and Execute Risk Processes

2.4 Maintain and Execute Risk Processes

Program Management

Task Activities

  1. Customer

    Maintain and update Risk Management Plan, as necessary

  2. Customer

    Maintain and update Risks, Actions, Issues, and Decisions (RAID) Log with new risks, changes to existing risks, status of risk mitigation activities, and action item resolution and decisions continuously (at a minimum of every two weeks) throughout Phase 2

  3. Customer

    Develop and employ mitigation strategies continuously throughout Phase 2

  4. Customer

    Report on new risks/issues and ongoing risk/issue mitigation activities in governance meetings and Status Reports/Dashboards, informing QSMOs as necessary

  5. Customer

    Perform Risk Assessment

2.4 Best Practices

  • Hold regular risk management meetings and include risk management in status reporting and escalation procedures
  • Document risks and issues in RAID Log in order to clearly communicate risks

Stakeholders

Customer

  • Executive Sponsor
  • Business Owner
  • Program Manager
  • Risk Manager
  • PMO Lead
  • PMO Team
  • IV&V Team

Inputs

Outputs

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