Common use of Risk Assessment and Management Clause in Contracts

Risk Assessment and Management. The Contractor shall perform risk assessment and management. The Contractor shall use its own established Risk Management Program; however, the Risk Management Program shall at a minimum contain the following: Risk management shall be a continuous process, analyzing program risks and individual mitigation plans on a sufficiently frequent basis to be proactive in preventing major Program problems. Major problems include, but are not limited to, not meeting delivery dates and nonconformance to specifications and drawings. The analysis shall identify the risks associated with each area, assess the probability of occurrence, identify the impact of each risk on the overall program, and develop and implement risk mitigation plans for identified risks. The risk analysis shall use metrics from the Contractor’s Risk Management Program. Risk analysis status and metrics shall be reported in the Contractor’s Progress, Status and Management Report in accordance with CDRL A005 and presented during Program and Technical Reviews.

Risk Assessment and Management. The Contractor contractor shall perform risk assessment and management. The Contractor contractor shall use its own established Risk Management Program; however, the Risk Management Program shall at a minimum contain the following: Risk management shall be a continuous process, analyzing program risks and individual mitigation plans on a sufficiently frequent basis to be proactive in preventing major Program problems. Major problems include, but are not limited to, not meeting delivery dates and nonconformance to specifications and drawings. The analysis shall identify the risks associated with each area, assess the probability of occurrence, identify the impact of each risk on the overall program, and develop and implement risk mitigation plans for identified risks. The risk analysis shall use metrics from the Contractorcontractor’s Risk Management Program. Risk analysis status and metrics shall be reported in the Contractorcontractor’s Progress, Status and Management Report in accordance with CDRL A005 A006 and presented during Program and Technical Reviews.