Overview

The SEI has been conducting research and development in various aspects of risk management for more than 20 years. Over that time span, many solutions have been developed, tested, and released into the community. In the early years, we developed and conducted Software Risk Evaluations (SREs), using the Risk Taxonomy. The tactical Continuous Risk Management (CRM) approach to managing project risk followed, which is still in use today—more than 15 years after it was released. Other applications of risk management principles have been developed, including CURE (focused on COTS usage), ATAM® (with a focus on architecture), and the cyber-security-focused OCTAVE®. In 2006, the SEI Mission Success in Complex Environments (MSCE) project was chartered to develop practical and innovative methods, tools, and techniques for measuring, assessing, and managing mission risks. At the heart of this work is the Mission Risk Diagnostic (MRD), which employs a top-down analysis of mission risk.

Mission risk analysis provides a holistic view of the risk to an interactively complex, socio-technical system. The first step in this type of risk analysis is to establish the objectives that must be achieved. The objectives define the desired outcome, or "picture of success," for a system. Next, systemic factors that have a strong influence on the outcome (i.e., whether or not the objectives will be achieved) are identified. These systemic factors, called drivers, are important because they define a small set of factors that can be used to assess a system's performance and gauge whether it is on track to achieve its key objectives. The drivers are then analyzed, which enables decision makers to gauge the overall risk to the system's mission.

The MRD has proven to be effective for establishing confidence in the characteristics of software-reliant systems across the life cycle and supply chain. The SEI has the MRD in a variety of domains, including software acquisition and development; secure software development; cybersecurity incident management; and technology portfolio management. The MRD has also been blended with other SEI products to provide unique solutions to customer needs.

Although most programs and organizations use risk management when developing and operating software-reliant systems, preventable failures continue to occur at an alarming rate. In many instances, the root causes of these preventable failures can be traced to weaknesses in the risk management practices employed by those programs and organizations. For this reason, risk management research at the SEI continues. The SEI provides a wide range of risk management solutions. Many of the older SEI methodologies are still successfully used today and can provide benefits to your programs. To reach the available documentation on the older solutions, see the additional materials.

The MSCE work on mission risk analysis—top-down, systemic analyses of risk in relation to a system's mission and objectives—is better suited to managing mission risk in complex, distributed environments. These newer solutions can be used to manage mission risk across the life cycle and supply chain, enabling decision makers to more efficiently engage in the risk management process, navigate through a broad tradeoff space (including performance, reliability, safety, and security considerations, among others), and strategically allocate their limited resources when and where they are needed the most.

Finally, the SEI CERT Program is using the MRD to assess software security risk across the life cycle and supply chainAs part of this work, CERT is conducting research into risk-based measurement and analysis, where the MRD is being used to direct an organization's measurement and analysis efforts.

Spotlight on Risk Management

Library

A Practical Approach for Managing Risk

Most programs would benefit by improving, or in some cases replacing, their current risk management practices. The SEI Mission Success in Complex Environments (MSCE) project team develops practical and innovative methods and tools for measuring, assessing, and managing program risks....

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