***COMPLETION OF SYS 118, INTRODUCTION TO LIFE CYCLE RISK MANAGEMENT, IS HIGHLY RECOMMENDED BEFORE ATTENDING THIS COURSE*** This course covers the basics of acquisition/program risk and how to effectively manage risk throughout a program's life cycle to achieve program goals within cost and schedule constraints. New DoD and Air Force regulations and guidance related to Life Cycle Risk Management (LCRM) are covered. The five-step LCRM process is introduced and tools and techniques associated with this process are explained. Students work in simulated Integrated Product Teams on a real-world acquisition exercise to apply these techniques to help reinforce the concepts and importance of program risk management.