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Term

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Definition

An organized, systematic decision-making process that efficiently identifies, analyzes, plans, tracks, controls, communicates, and documents risk to increase the likelihood of achieving program/project goals. (Definition from source document: NPR 8735.2, Management of Government Quality Safety and Mission Assurance Surveillance Functions for NASA Contracts, NPR7150.2B - Appendix A.) Risk management includes Risk-Informed Decision Making and Continuous Risk Management in an integrated framework. This is done to foster proactive risk management, to better inform decision making through better use of risk information, and then to more effectively manage implementation risks by focusing the Continuous Risk Management process on the baseline performance requirements emerging from the Risk-Informed Decision-Making process. (Definition from source document: NPR 8000.4, Agency Risk Management Procedural Requirements.) (Source: NPR 7150.2A - Appendix A)

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