What is a risk mitigation strategy?
Risk mitigation plans and activities reduce the likelihood that sources of risk will emerge and negatively impact a program such as EA. Actions that mitigate risk (lower uncertainty) include strengthening executive support for the EA program, solidifying budgets, not being the first adopter of EA tools and documentation techniques, ensuring there are trained back-ups on the EA team, and using a detailed EA implementation methodology to guide the overall program. Additionally, basic program management skills address potential problems of key personnel turnover, cost and schedule overruns, performance issues, and stakeholder acceptance. Overcoming issues related to technology compatibility among EA products is achieved through the use of commercial tools that are based on open standards, and which are mature and have significant market share. Risk identification and mitigation is not a one-time activity, it is an ongoing management review item that will assist in making an EA program successful.