5.0 MEASURING RM EFFECTIVENESS
Normally the focus on risk management within NASA has
been assuring programs and projects comply with risk
management standards set by NASA headquarters. As
mentioned previously, NASA has adopted the Continuous
Risk Management methodology developed by Carnegie-
Mellon University. However, compliance in a risk
management model does not in itself ensure that an
effective risk management system will actually occur. One
significant measure of effectiveness is whether the right risk
information gets to the right decision maker at the right
time. Even when someone in the organization becomes
aware of a risk item that may be serious, will that
information get into the risk database and will it get to the
right decision-maker? Will it get there quickly and
accurately? Will the decision-maker understand its
relevance and will it be synthesized with all the other risks
in the system?
In Continuous Risk Management, it is recognized that
communication is the “hub” of the paradigm wheel, and is akey enabler for effective risk management. This element of
Continuous Risk Management focuses on getting people to
communicate effectively about risks. Risk management
effectiveness is determined by the participation of people in
an organization, and by the speed and fidelity of
communications between those people, and not necessarily
by compliance in risk management requirements.
What has been found to be true is that there are four areas of
this communication throughput that are important in
measuring effectiveness: