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Risk Management

Introduce the concept of risk management

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Risk Management

CPT J. Craig

SG 190

Purpose

Introduce the concept of risk management

Outline

What is Risk Management?

Why Risk Management?

Key Definitions

The Risk Management Process

Risk Management Integration

Summary

Conclusion

What is Risk Management?

Originally for high-risk complex activities (Space, Aviation)

Applicable to all Army operations at all levels

Systems based concept

Not a Science; not "Common Sense"

Why Risk Management?

Preserve combat power

Because it works!

Korean cold weather example

Dramatic decrease in accidents Army-wide

FY 96 Accident Rates

Key Definitions

Hazard

Risk

Probability

Severity

Risk Assessment

Risk Management

Residual Risk

Gambling

The Process

The Process

Compressible, flexible

Level of detail depends on:

Time available

Level of risk

Control all risks that can be controlled

Accept no unnecessary risks

Make decisions at appropriate level

Risk Management Integration

Embed RM in all Army does

Incorporates AAR

Were controls communicated?

Were controls implemented?

Was Risk Management effective?

Risk Management Integration Plan

Draft dated 24 Dec 97

Summary

What Risk Management is

Why Risk Management is important

Definitions

The Risk Management process

Risk Management Integration

Conclusion

"Risk management helps us preserve combat power and retain the flexibility for bold and decisive action. Proper risk management is a combat multiplier that we can ill afford to squander...."

General Reimer