Abstract

Risk is generally defined as the measure of the potential inability to achieve overall program objectives within defined cost, schedule, and technical constraints. What is missing from this definition are risks associated with failing to identify and capture evolving user, system, and technical requirements, which are often driven by evolving end‐user or marketplace demands. Ignoring these evolving needs introduces risks, meaning you may be developing an obsolete product or one that only partially meets end‐user needs. There are many different flavors of risk management, but each of these includes considerations for defining and assessing risk (including the likelihood it will occur and the potential impact if it does), determining how to decide which risks to mitigate and how to do so, and risk monitoring. This chapter focuses on managing three types of risks to systems engineering and …

Date

October 8, 2023

Authors

Michael Orosz

Journal

Systems Engineering for the Digital Age: Practitioner Perspectives

Pages

463-470

Publisher

John Wiley & Sons, Inc.