You have discussed with your customer the need to develop a collaborative team of Government and contractor personnel. Why is this an important part of risk management?

Is it: 1. To implement a life cycle management program that will result in a total cost reduction.

2. In order to assess and manage potential risks under the contact and ultimately reduce the risks under the contract

3. To assign risk management responsibilities to the contractor, thereby reducing the potential consequences to the Government

4. To identify which acquisitions should have a risk management program