FORMAL RISK MANAGEMENT AWARD FEE DETERMINATION (AFD) Sample Clauses

FORMAL RISK MANAGEMENT AWARD FEE DETERMINATION (AFD). RATING CRITERIA a. The contractor has established and implemented a project Risk Management Plan. The plan and infrastructure (tools, organizational assignments, and management procedures) have been agreed to by the Government Program Office (GPO) and the contractor has placed the plan under configuration management (CM). b. The contractor senior management has established reporting mechanisms and employee incentives in which all members of the project staffs are encouraged to identify risks and potential problems and are rewarded when risks and potential problems are identified early. c. The contractor has designated and assigned a senior member of the technical staff as risk officer to report directly to the program manager and has been chartered with independent identification and management of risks across the program and has been granted the authority needed to carry out this responsibility. d. Risk identification is accomplished in facilitated meetings attended by project personnel most familiar with the area for which risks are being identified. Risk identification includes risks throughout the life cycle in at least these areas: cost, schedule, technical, staffing, external dependencies, supportability, maintainability, and programmatic. Risk identification is updated at least monthly. Identified risks are characterized in terms of their likelihood of occurrence and the impact of their occurrence. e. The contractor risk officer updated the risk data and database on the schedule defined in the Risk Management Plan. All risks intended for mitigation and any others that are on the critical path and their status against the mitigation strategy are summarized. Newly identified risks go through the same processes as the originally identified risks. Excellent (85-100) All acceptable criteria, plus: Risk identification is accomplished in facilitated meetings attended by project personnel most familiar with the area for which risks are being identified and personnel familiar with problems from similar projects in this area in the past participate in these meetings. Risk mitigation activities are included in the project's task activity network. Each medium-impact and high-impact risk is described by a complete Risk Control Profile. Periodically updated estimates of the cost and schedule at completion include probable costs and schedule impact due to risk items that have not yet been resolved. The contractor provided for the direct distribution of the Formal ...
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Related to FORMAL RISK MANAGEMENT AWARD FEE DETERMINATION (AFD)

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