New Risk Management Model

  1. New definition of risk
  2. Risk is caused by stakeholders who lack expertise and are making decisions
  3. Risk cannot be moved effectively by contract
  4. Risk can only be mitigated by an expert vendor
  5. Testing of the new approach has resulted in expert vendor reduces project risk to 1%
  6. In lieu of expert vendor, risk management structure has been developed that resulted in similar results [without expert vendor]