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Risk Management Implementation in a Product Team Environment

The implementation of a project‐wide risk management effort, in a project environment which uses product teams as the principal organization structure, requires a special management approach for effective results. Discussed herein are the practical experiences encountered in applying risk management to a two billion dollar wind tunnel design and construction project with a multiple set of project teams differentiated by technology specialties, corporate cultures and widely dispersed geographical locations. Lessons learned are summarized for use in future applications of risk management in a complex multidimensional project matrix environment.