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non-diversifiable risk.

Program Risk Management Tools

In program risk management, it is important to select a tool that supports the risk management process steps outlined in Figure 1 in the SEG’s Risk Management topic article. The other articles in this topic area provide additional information on each of the process steps. Many tools that support the implementation of program risk management are available. Many tools also can be used to support the management of project, enterprise, and system-of-systems risks.

MITRE-Developed Tools

RiskNav®

RiskNAV® (RiskNav is a registered trademark of The MITRE Corporation) is a well-tested tool developed by MITRE to facilitate the risk process and help program managers handle their risk space. RiskNav lets you collect, analyze, prioritize, monitor, and visualize risk information in a collaborative fashion. This tool provides three dimensions of information graphically: risk priority, probability, and mitigation/management status.

RiskNav, originally produced for the U.S. government, is designed to capture, analyze, and display risks at a project or enterprise level. RiskNav is currently deployed throughout numerous and MITRE sponsors.

Since January 2005, the Technology Transfer Office at MITRE has licensed RiskNav technology to commercial companies. Current licensees include KEYW Corporation (Risk Mitigation Tool) and NMR Consulting. The Technology Transfer Office will support the tool for contractor and other government acquisition and will ensure that proper licensing forms are obtained and signed by new users. There is no cost for government usage. This formal procedure is not needed if MITRE is hosting a risk management effort.

RiskNav presents the risk space in tabular and graphical form. The tabular form, shown in Table 1, presents key information for each risk and allows the risk space to be filtered and sorted to focus on the most important risks. The information in the tables and figures is artificial and for illustrative purposes only. It does not represent real programs, past or present.