In Resolution 2011.03.18.07 the Board directed the Board Governance Committee to recommend to the Board a working group to oversee the development of a risk management framework and system for the DNS as it pertains to ICANN's role as defined in the ICANN Bylaws.
At its meeting on 28 October 2011, the ICANN Board approved the membership of the Working Group as recommended by the Board Governance Committee in Resolution 2011.10.28.11.
The members of the working group are Bill Graham - Chair, Patrik Fälström, Roelof Meijer, Ram Mohan, Ray Plzak, Bill Woodcock, and Suzanne Woolf.
The DNS Risk Management Framework Working Group held a public workshop in Prague on Thursday 28 June 2012 at 10:30-12:00. A staff assessment for the working group was posted as materials for that session. It is also linked here [PDF, 404 KB].
On 16 July, 2012, following the public workshop in Prague, ICANN published a Request for Proposals for DNS Risk Management Framework Consultant, calling for an expert consultant to assist with the development of a DNS Risk Management Framework. The announcement is available here. The deadline for responses is 31 August 2012, 23:59 UTC.
Following the RFP, Westlake Consulting was selected to develop the DNS Risk Management Framework. They were introduced to the community during the public meeting of the working group in Toronto. Westlake then prepared a draft framework which was published and discussed at the Beijing meeting. The working group has now received a draft Report which will be discussed with the community in Durban.
At the Buenos Aires meeting, the Board passed a resolution closing the working group and directing staff to implement the DNS Risk Management Framework. http://www.icann.org/en/groups/board/documents/resolutions-21nov13-en.htm#2.c. Oversight of this effort has now transitioned to the Board.