Risk Management in Korea Space Launch Vehicle - I Program

The risk management is an organized method for identifying and measuring risk and for selecting, developing, and implementing options for the handling of risk. The risk management covers all programmatic and technical factors which affect the system development performance, cost, and schedule. While technical issues are primary concern for systems engineering, the three elements (performance, cost, and schedule) must be balanced for a successful risk management process. This paper proposes the risk management process for the Korea Space Launch Vehicle-I (KSLV-I) program using computer-aided systems engineering tool, Cradle. The risk management process of KSLV-I program is similar to the general risk management process, but it has its own specific features to manage large-scale complex characteristics of KSLV-I program