A methodology for integrated risk management of multidisciplinary program

After studying risk management practices in several programs and analyzing the root causes for their ineffectiveness, it is found that the major problems lie with ad-hoc approaches rather than an integrated approach for risk management especially in the early phases of a multidisciplinary program. Our methodology is based on standard risk model, which is strengthened by use of 6 sigma tools. It integrates the prevention and contingency plans with the program action issues register, schedule and cost. The resultant framework is found to be useful in managing risks.