the probability of failing to achieve a particular outcome, and the consequences of failing to achieve that outcome. Risk from a lawyer's standpoint: Does this contract adequately describe all essential work / expectations, is there a schedule and is it enforceable? What are our remedies, if any? Requiring activities and frequently contracting officers want to get an acquisition on contract as quickly as possible; sometimes too quickly. Thus, contracting officers and acquisition attorneys will frequently have to carefully review the overall acquisition to identify risks to cost, schedule and performance and recommend mitigation measures to decrease these risk areas. Risk from an investor's perspective: What is my expected payoff? The larger the expected payoff, the larger the associated risk, and vice versa. An investor who is a shareholder in a contracting company will seek to carefully balance the expected payoff with the associated risk, and he is incentivized to seek a large payoff, as long as the risk is acceptable. This perspective is unique in the sense that risk represents both opportunity and danger to the investor, while it only represents danger to the Program Manager and the Lawyer. In other words, there is a misalignment in the perception of risk between the Program Manager, the Lawyer, and the Investor. It is ultimately the Investor who owns the contracting company, and this misalignment will have an effect on the Investor's behavior and the stock's performance. Requirement overbundling Cost, schedule and performance risk can be increased by over-bundling of a requirement into a single acquisition exercise. Over-bundling dries up the possible vendor base that might otherwise compete for a requirement. Thus, it is critical that an evaluation of the potential vendors who might compete for the overall work statement / deliverables be accomplished. This analysis will frequently require splitting up a requirement into different components. The bundling of a requirement also has a detrimental effect on the SSCs and CLIN structure, making it difficult to use in source selection, price evaluation and contract administration. Northern Missouri congressman Sam Graves introduced draft legislation in 2014 intended to address some of the shortcomings of excessively bundled contracts. Overbundled requirements frequently suffer from very vague requirements and work statements, particularly in service contracts. In service contracts, the CLIN structure is priced on a per person per hour basis rather than on the service work deliverables themselves. Government or contractor ability to prepare cost or