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Successful Acquisition Risk Management: A Concept,
COAST GUARD WASHINGTON DC
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Risk analysis is a mathematical field based in gambling, investments and certain types of insurance life, health and accident. Attempts to adapt analogous rationales and analytic methods to public and environmental safety issues with risky technological projects like dams, nuclear power plants and marine shipments of hazardous substances have sometimes been of dubious value. The author, based on experience in maritime safetypollution risk analysis, has recently been advocating a shift from a focus on risk assessment and risk acceptance analysis towards risk management. The purpose of this paper is to adapt that same reasoning to acquisition risk analysis. It may or may not be true that some acquisition risk analysis studies are misdirected at non-existent decisions or at decisions that do not depend on the degree of risk. Similarly, it may or may not be true that some acquisition risk managers fail to realize their true and productive role in the risk management process. Finally, it is possible that the Deming management philosophy underlying his quality control concepts can be adapted to aid more effective DoD systems acquisition risk management. Author
APPROVED FOR PUBLIC RELEASE