Risk management capability maturity model for complex product systems (CoPS) projects

Abstract

AbstractThis paper aims at conceptualizing and developing a multilevel framework for the Risk Management Capability Maturity Model (RM‐CMM), specifically for Complex Product Systems (CoPS) projects. CoPS is a special class of projects, which are high‐value, technology‐ and engineering‐intensive products or systems that are typically used to produce consumer goods and services. The embedded and inherent complexity in terms of task and human relations in CoPS projects can be a major source of risk and can contribute to persistent project challenges, failure, and impairment. There is a need to build a progressive risk management capability to deal with the unique characteristics of these complex projects. The proposed CoPS‐RM‐CMM model defines two broad layers in systems “security” and organizational “robustness.” The understanding of complexity inherent in CoPS projects is drawn from the science of complexity and emergence, which provides additional insights into the management of both predictable and emergent risk in CoPS implementation. The proposed model is also built upon a change management framework, which addresses the risk planning and control processes, organizational and people contexts, and technology contents of CoPS. © 2008 Wiley Periodicals, Inc. Syst Eng