The High Stakes And Costs Of Aircraft Training

Therefore, the risk process places a high emphasis on risk workshops, initial risks, and how risks are identified throughout the course of the project. The next two sections describe different methods of identifying risks.

Turning a 767 into a KC-46A Tanker includes building each tanker with the latest and most advanced technology and capable of meeting or exceeding the Air Force's needs for transport of fuel, cargo, passengers, and patients. It includes advanced technology systems that meet the demanding mission requirements of the future, including a digital flight deck featuring Boeing 787 Dreamliner electronic displays and a flight control design philosophy that places aircrews in command rather than allowing computer software to limit combat maneuverability. The NewGen Tanker also features an advanced KC-10 boom with an expanded refueling envelope, increased fuel offload rate and flyby-wire control system] (Boeing, 2011, Media, p. 28).

Risk or threat is common and found in various fields of daily life and business. This concept of risk is found in various stages of development and execution of a project. Risks in a project can mean there is a chance that the project will result in total failure, increase of project costs, and an extension in project duration which means a great deal of setbacks for the company. The process of risk management is composed of identifying, assessing, mitigating, and managing the risks of the project. It

ATC has many functioning sub-units acting in concert to complete a common goal, but for the purposes of this paper, we will focus on the HC-144 platform. The HC-144 program is currently short seven personnel (E-4 to E-6) according to what the PAL requires any unit to support four aircraft. If

Risk management needs to be an ongoing process, occurring throughout the project, because of the ever-changing aspect of risk. ATOM process includes both major and minor reviews to maintain the vigilance required when dealing with project risk. Major reviews are designed to occur at key points in the project to review the status of the risks and to evaluate the actions taken. Reviews evaluate the effectiveness of the risk plan and make changes to that plan to keep up with the changes in the risks. The major review is scheduled for major milestone points in the project, identified as part of the risk. management plan. The risk register should have all the current information about the risks when the review begins. In addition, the project manager will provide information with regards to the project status and the review point. The risks will be reviewed with regards to their status, changes in probability or impact, and the actions described for the risks. Any new risks will be assessed and actions will be identified. Because risk needs to be monitored throughout the project and not just at major points, our process would contain provisions for minor reviews too. Minor reviews are designed to fill the gap between the initial risk assessment and the major review and to be ongoing throughout the project. It carries out the reviews of the major review on a less-detailed scale. After a review of both, an updated risk register is produced. Updates to the project plan to better manage potential risks may also be an outcome of the review. We will have risk review meetings also. Performance measurement system for our project would track the following metrics:

The simulators needs to be build and produce the fidelity as if a operator would be walking into a real world environment. A operator would not like to train on a simulator and have a button that is needed for checklist item situated in a different location that is not correct to a real aircraft cockpit. (Rehmann, Mitman, & Reynolds, 1995)

The project manager working with the project team and project client will ensure risks are actively identified, analyzed and managed throughout the life of the project. Risks will be identified as early as possible to minimize their impact. This can be done using several ways like

risks and determine the likelihood and consequence of that risk occurring during the project. The

During the planning process, the project team needs to identify probable issues that may arise in the future of the project while, developing a response plan and dedicate needed resources to mitigate issues before the project fails. The team needs to review documents inputs such as the project charter, project plans, assets, and environmental factors. The project team then uses analytic techniques or tools, expert judgment and meetings to develop a risk management plan. “Risk is always present and spans all parts of the project both external as internal, and therefore it does affect other constraints.” (Wysocki, pps 13-14, 2014). It is also important to note to

Risk identification process will include and conduct within the project team, evaluation environmental factors, project scope and culture of the organization. Detail review and attention will be provide to the constraints, work break down structures, project documents, cost estimates and other this project related documents. A Risk Management recording document will be developed and electronically stored in the organization database.

The risk management plan is to identify possible negative and positive risks that are unforeseen before and during the project duration. The risks associated with this project can be as little as permit issue to as big as hazardous material abatement and handling. The positive risk can be addressed and over checked for cutting corners and missed work packages. The risk planning must be composed of stakeholders and project team leaders including the project manager. The plan will involve the appropriate team members to address positive and negative risks by using their experience, and skills. The management plan will include instruction with dealing with contractor issue that can possibly put constraints on the project. There will meetings with project team to brainstorm the risks and discuss the impact of those identified risks and how they can resolve them if they do surface. The plan should be part of the decision tree making, especially for very large projects.

“Risk management provides a structured way of assessing and dealing with future uncertainty” (Cooper, Grey, & Raymond, 2005, p. 4). The main participants for the elaboration of the risk management team can include the following (PMBOK, 2008): A Project Manager, Project Team Members, Stakeholders, any employee within the business who is asked to manage the risk, and others as determined

Risk Assessment: List the risks associated with the successful completion of your project, your assessment of their severity and likely effects and your suggestions for their mitigation.

Setting up a project makes it necessary that risks that are likely to affect the business are determined. The characteristics of the risks are to be documented. Participants in the risk management process vary, and they include personnel such as end users, customers, risk management team, project team, outside experts, stakeholders and other project managers (Piazza-Waggoner, Adams, Goldfarb, & Slater, 2002). The risk identification process is therefore supposed to be interactive. The project team for example forms the first interaction, primary stakeholders and the entire project team forms the second interaction. To reduce the level of biases, it is important to have the third interaction; third persons need to form the third interaction.

Having identified the risks and grouped them according to severity, the first trade-off the manager has to make is the decision to forego managing the less severe risks and focus on those which pose the most severe threat to the project. More significant risk may include risks which require the entire redesign of the project, whereas less severe risk may include those which cause little or no material changes to the project. Since the less severe risks are likely to cause little or no material changes to the project and use less resources, it is reasonable to trade-off these risks in favour of managing the more severe risks. On the other hand, these risks will remain and continue to pose a threat to the project, therefore they should be recorded in the risk register and dealt with as secondary risks. Risk response strategies should then be implemented to deal with both the severe and less severe risks which have been previously identified and analysed (Elkington & Smallman, 2002).