A formal risk management process for instrumentation projects at the Anglo-Australian Observatory

Details A formal risk management process for instrumentation projects at the Anglo-Australian Observatory A formal risk management process for instrumentation projects at the Anglo-Australian Observatory

Jul 2010

adsabs.harvard.edu/cgi-bin/nph-data_query?bibcode=2010spie.7738e..57o&link_type=abstract

Modeling, Systems Engineering, and Project Management for Astronomy IV. Edited by Angeli, George Z.; Dierickx, Philippe. Proce

Astronomy and Astrophysics

Astronomy

Scientific paper

Risk management is a dynamic activity that takes place throughout the development process from the concept phase to the retirement phase of the project. The successful management of risk is a critical part of the instrumentation development process at the AAO. The AAO has a risk management process based on the AS/ISO standard for risk management. Brainstorming sessions are conducted with the project team. Potential project risks are identified by the team and grouped into the categories of technical, political, operational, logistical, environmental, and safety. A risk matrix is populated with details of each risk. The risk is then ranked based on the consequence and likelihood according to the scale of Low, Moderate, Significant, and High. The level of risk is evaluated; mitigation control mechanisms are identified, and assigned to a specific team member for resolution. Risk management is used as a management tool for the HERMES project. The top 5 risks are identified, and management efforts are then concentrating on reducing these risks. Risk management is also used during the development process as a trade study tool to evaluate different design options and assist senior management to make informed decisions.

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