The role of the risk management database in the risk management process

The role of the risk management database is to help document and communicate risk information. In this regard, standardized risk management databases lead to a common understanding of risk management information. While risk information is similar from program to program, program characteristics, such as the organizational components, program goals and objectives, and major program threats, require significant variations in the risk management process. To support aspects of the risk management process other than documentation and communication (e.g., identification, analysis, handling, tracking), the risk management database should be tailored to meet the needs of the program. This paper examines each step in the risk management process and discusses how the risk management database should be tailored to facilitate process execution.