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M3 Framework Introduction M3 Framework Overview M3 Phase 0 - Assessment M3 Phase 1 - Readiness M3 Phase 2 - Selection M3 Phase 3 - Engagement M3 Phase 4 - Migration M3 Phase 5 - Operations M3 Resources
M3 Playbook > Phase 4: Migration
4.2 Maintain and Execute Risk Processes
4.1 Monitor and Control Program Execution
4.3 Develop O&M Governance
Image Map Phase 0: Assessment Phase 1: Readiness Phase 2: Selection Phase 3: Engagement Phase 4: Migration Phase 5: Operations
Objective: Execute risk management processes to identify and mitigate risks and issues throughout the migration.

Phase 4 GuidanceLegend - Customer, Provider, Shared
Activities
1. Maintain and update Risk Management Plan as necessary (S)
2. Develop and employ mitigation strategies continuously throughout the migration (S)
3. Maintain and update Risks, Actions, Issues, and Decisions (RAID) Log with new risks and status of risk mitigation at a minimum of every 2 weeks throughout the migration (S)
4. Report on new risk and ongoing risk mitigation activities in governance meetings and Status Reports/Dashboards (S)
5. Perform M3 Risk Assessment (S)

Inputs
• Governance Structure and Process
• Status Reports/Dashboards
• Independent Verification and Validation (IV&V) Plan
• Risk Management Plan
• RAID Log

Outputs
• Risk Management Plan
• RAID Log
• M3 Risk Assessment
Stakeholders
• Executive Sponsor (C, P)
• Business Owner (C, P)
• Program Manager (C, P)
• Risk Manager (C, P)
• PMO Lead (C, P)
• PMO Team (C, P)

Best Practice
• Maintain a risk management function within the PMO to coordinate all risk management activities across the customer and provider before migration
• Hold regular risk management meetings and include risk management into status reporting and escalation procedures. Include documentation of risks in RAID Log in order to facilitate communication of risks
• Maintain risk management roles and responsibilities for customer and provider team members and executives, and train team members on identifying and mitigating risks