GP-B Post-Flight Analysis—Final Report - Gravity Probe B - Stanford ...

5.4.3 Risk Management ApproachThe risk management process (Figure 5-3) is a continual process that assesses both the evolving state of theprogram (technical, cost, schedule) and the progress against active risk mitigation activities. The riskmanagement process begins by identifying potential program risks.Figure 5-3. For each risk, an assessment is completed by the identifying team or personRisk mitigation plans are developed and executed for risks comprised of one or more of the following strategies(1) avoidance: requirements relaxation and/or elimination; (2) control: testing, training, procedures, marginallocation, second source, parallel design; (3) acceptance: monitor only; and (4) transfer: move the risk toanother area. Mitigation plans are implemented by the affected team, who establish monitoring methods whichensure that new problems are identified and resolved.Program risk is monitored by the Risk Steering Group chaired by the Stanford program manager and includesparticipation from Lockheed Martin program manager, MSFC resident manager, and other senior managers onthe GP-B program.5.4.4 Risk Metric and ItemsFormal GP-B risk management was started in October 2000. A metric showing the rate at which risk items wereidentified and closed is shown in Figure 5-4. All risk items were either closed or accepted prior to launch.134 March 2007 Chapter 5 — Managing Anomalies and Risk