Why is there pressure to do risk management more systematically?
Recent Congressional action as well as DoD policy emphasizes the requirements to improve acquisition practices and the management of risks. • The Information Technology Acquisition Reform act of 1996 (also known as the Clinger-Cohen Act) specifies: ” Design Of Process. – In fulfilling the responsibilities assigned under section 3506(h) of title 44, United States Code, the head of each executive agency shall design and implement in the executive agency a process for maximizing the value and assessing and managing the risks of the information technology acquisitions of the executive agency.” • DoD Directive 5000.1 “Defense Acquisition” (March 15, 1996, incorporating Change 1, May 21, 1999) requires a “…streamlined management structure and event-driven management process that emphasizes risk management and affordability and that explicitly links milestone decisions to demonstrated accomplishments,” and goes on to require (in Section 4.1.4), “PMs [Program Managers] and other acquisition
