The Joint Light Tactical Vehicle (JLTV) Family of Vehicles (FoV) is the central component of the Army’s long-term Tactical Wheeled Vehicle (TWV) strategy. The program’s objective is to balance critical weight and transportability restrictions within performance, protection, and payload requirements of the United States Army and Marine Corps. One of the challenges faced by the JLTV program is the need to balance the “Iron Triangle” of performance, protection, and payload while managing the disparate requirements of the domestic services and international partners. The JLTV team developed processes to manage the cost, performance, and schedule risks associated with each of the three contractors participating in the Technology Development phase. This paper will describe the risk management processes and tools developed on the JLTV program to manage and mitigate these contractor risks and extract those that could impact the entire program.