Organizational Risk and Opportunity Management: Concepts and Processes for NASA's Consideration

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Organizational Risk and Opportunity Management: Concepts and Processes for NASA's Consideration

Dezfuli, Homayoon / Benjamin, Allan / Everett, Christopher

The focus of this report is on the development of a framework and overall approach that serves the interests of nonprofit and Government organizations like NASA that focus on developing and/or applying new technology (henceforth referred to as organizations like NASA). These interests tend to place emphasis on performing services and achieving scientific and technical gains more than on achieving financial investment goals, which is the province of commercial enterprises. In addition, the objectives of organizations like NASA extend to institutional development and maintenance, financial health, legal and reputational protection, education and partnerships, and mandated milestone achievements. This report discusses the philosophical underpinnings of OROM for organizations like NASA, the integration of OROM with existing management processes, and the nature of the activities that are performed to implement OROM within this context. The proposed framework includes a set of core principles that would be essential to any successful OROM approach, along with some features that are currently under development and are continuing to evolve. The report is intended to foster discussion of OROM at NASA in order to reach a consensus on the optimum approach for the agency.