What is meant by managing risk?
Risk is related to uncertainty, and in applied form is the potential source(s) for the failure or underperformance of a program or project. The management of risk involves lowering or eliminating the uncertainty that desired outcomes will not be realized. There are several types of risk that relate to the implementation and maintenance of an EA program, including: Financial. Implementing an EA involves establishing current and future views of enterprise resources, an EA Management Plan, and updates to this information at regular intervals. Like any implementation project, establishing the initial set of EA information will require start-up funding that is more than what will be required for the periodic updates. \nEven after the EA is established, cuts in an EA maintenance budget can severely affect the program, to the point of making the EA information eventually become of little or no use if it becomes too out of date. \nLack of Acceptance. EA represents a new way of looking at enterprise resources by providing an integrated view of strategy, business, and technology that supports the consolidation or re-engineered of these resources to produce additional value. Former approaches to program management that supported systems level planning will be replaced with EA level planning that is promoted through the EA program. \nThis will most likely create some tensions between program level stakeholders, EA stakeholders, and other affected groups. Loss of Key Personnel. EA is an emerging area of professional practice that requires architects, analysts, developers, and programmers. Each of these skill sets is important to the program and the loss of members of the EA team with those skills can create delays in program implementation, as well as effect implementation costs. Schedule Delays. As with all implementation projects, the documentation of current and future EA views as well as the creation of the initial EA Management Plan is approached as a project that has milestones and a specific schedule for completion. \nDelays to the schedule can come from many sources and depending on the point at which a delay occurs during EA implementation, and how long the delay is, the effect can go from being negligible to being catastrophic for the EA program. Documentation Tools. One of the greatest challenges for a Chief Architect is to develop current and future views of the EA that are rich in detail, easy to access, and which can support modeling and decision-making types of queries. The capabilities of EA tools and supporting applications at present are such that intuitive and informative management views of EA information are difficult to produce with these tools. Further, because more than one software application is normally required in an EA program, tool integration is an issue that must be dealt with. As new commercial tools are introduced a Chief Architect has to consider what the effect will be on overall documentation if that product does not integrate with other tools.