The Risk Management Board (RMB) is responsible for overseeing the Risk Management Process in an organization. They report to the Program Manager (PM) and key Stakeholders. The RMB is comprised of risk professionals, subject matter experts, and stakeholders. They usually examine the work of the Risk Integrated Product Team and evaluate, prioritize and report program risks.

 

Tasks that should be accomplished by the Risk Management Board include: [1]

• Evaluate program risk assessments in accordance with the Risk Management Plan (RMP).
• Evaluate and continually assess the program for new root causes, address the status of existing risks, and manage risk mitigation activities. The root causes to be identified and analyzed are those that jeopardize the achievement of significant program requirements, thresholds, or objectives.
• Evaluate and prioritize program risks and appropriate risk mitigation strategies for each identified root cause, and estimate funding requirements to implement risk mitigation plans. Be prepared to request required risk mitigation support. Implement and obtain user acceptance of risk mitigation in accordance with program guidance per the program RMP.
• Report risk information, metrics, and trends, using a Risk Matrix to the Program Manager or Stakeholders

AcqLinks and References:

• [1] DoD Risk Management Guidebook – Section 8 – Aug 06 (Outdated)

Updated: 6/19/2018