Paper (47): The Missing Link – Risk Identification.
Abstract: All risk management standards, guides and process descriptions note that risk identification is a key component of a robust risk management framework. Further, an effective risk identification process should identify all types of risks from all sources across the entire scope of the program/enterprise activities. However, no document or solution provides sufficient guidance for identifying a comprehensive set of risks – a risk management baseline. Further, risk identification as it is practiced today is a subjective, ad hoc, non-comprehensive and non-repeatable process resulting in continuing failures and overruns in all types of programs.
A large analysis of hundreds of programs, their risks and outcomes was performed to address this shortcoming. A common set of risks emerged from this study, called the Risk Identification Analysis. This analysis, its conclusions, and the tool developed from those conclusions, Program Risk ID, are discussed in this paper.
Biography: Laurie Wiggins is the CEO and Founder of Sysenex Incorporated, a systems engineering company. She led her company in the development of Program Risk ID, a first to market risk identification software capability for product and service development and modification. An entrepreneur and an engineer, she has established two other companies including a space payload services firm, ToSpace Inc. and was a co-founder of New Leaf Global, an environmental company.
Ms. Wiggins has 28 years of experience in engineering and business development. As a systems engineer, formerly with The Boeing Company, she has experience on several successful development programs including Space Station Freedom, the Sea Launch launch vehicle and satellite accommodations, flown space experiments, Next Generation US air traffic control systems and software development. She has worked with the National Geographic Society and World Vision International on strategic planning for carbon credit programs. She has assisted numerous clients in obtaining new business via proposal writing. Ms. Wiggins is a consultant to firms in the aerospace and IT industries resulting in a broad experience base. Her strategic systems perspective enables her unique problem identification and solution skills, and enhances her ability to bring seemingly disparate elements together to create innovative solutions. In addition to her technical skills, she has a solid business perspective focused on customer satisfaction.