TECHNOLOGY RISK ASSESSMENT AS PART OF RISK MANAGEMENT PROCESS
TECHNOLOGY RISK ASSESSMENT AS PART OF RISK MANAGEMENT PROCESS

Summary/Abstract: Risk management process should include “comprehensive analysis of technology, cost and schedule risk” as well as recommendation “the adequate scrutiny is undertaken by responsible body or PM on technology feasibility, maturity and overall technical risk.” Technology Readiness Levels (TRLs) is an accepted way to describe and measure technology maturity of components, subsystem and of the complex system itself. Through its development complex system with its components need to reach essential technology readiness levels. Technology Readiness Assessment (TRA), as one of the aspects of risk management process, trough the process of defining Critical Technology Element (CTE) and its needed TRL to be included into system, helps us to assess overall technology risk of a complex system. The paper provides overview of TRLs, pros and cons for using it and measures to overcome it, explain how to define CTE and impose the need to include other readiness levels in risk management process, for example, manufacturing or integration readiness levels. In addition, the paper presents a process of assessing hardware technology maturity for EWI components (Explosive Waste Incinerator for the incineration of ammunition elements), which should be a useful tool for application in “technology readiness assessment” driven approach for risk management.

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