Risk Management in Major International Projects at Fermilab and CERN

Fermilab and CERN manage multi-billion dollar portfolios of projects at the cutting edge of science and technology, with significant contributions from partners around the world. We describe the risk management methodologies that are used to effectively manage risk opportunities, threats, and uncertainties that can impact the technical, cost, and schedule goals of the projects. Specific examples are used to illustrate typical challenges, various risk analysis approaches, and risk best practices.