Risk Abuse in the Enterprise

Chad R. White

Risk Abuse in the Enterprise

Chad R. White

Research output: Thesis › Master's Thesis

Abstract

Risk Management and, more specifically, risk "abuse" in aerospace programs are examined. The value of each risk item considered in a program is directly linked to the ability to reduce wasted effort and time.

The working hypothesis of this thesis is that not all risk items are formally reported and/or followed through the formal risk process. It is also believed that risk levels are often under or overestimated. This results in an improper monitoring of the health of the program, and potential hidden costs to the customer. Corrective actions are recommended.

This study has been performed as a part of a larger effort conducted by the Lean Aerospace Initiative. The present student studied risk abuse at a large aerospace company and teamed with a PhD candidate from Massachusetts Institute of Technology (MIT) who studied Risk Management in the Enterprise Organization.

Original language	English
Qualification	Master of Science in Systems Engineering
Awarding Institution	Loyola Marymount University
Supervisors/Advisors	Oppenheim, Bohdan W., Advisor
State	Published - Apr 1 2007
Externally published	Yes

Access to Document

http://digitalcommons.lmu.edu/etd/325

Cite this

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title = "Risk Abuse in the Enterprise",

abstract = "Risk Management and, more specifically, risk {"}abuse{"} in aerospace programs are examined. The value of each risk item considered in a program is directly linked to the ability to reduce wasted effort and time. The working hypothesis of this thesis is that not all risk items are formally reported and/or followed through the formal risk process. It is also believed that risk levels are often under or overestimated. This results in an improper monitoring of the health of the program, and potential hidden costs to the customer. Corrective actions are recommended. This study has been performed as a part of a larger effort conducted by the Lean Aerospace Initiative. The present student studied risk abuse at a large aerospace company and teamed with a PhD candidate from Massachusetts Institute of Technology (MIT) who studied Risk Management in the Enterprise Organization.",

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N2 - Risk Management and, more specifically, risk "abuse" in aerospace programs are examined. The value of each risk item considered in a program is directly linked to the ability to reduce wasted effort and time. The working hypothesis of this thesis is that not all risk items are formally reported and/or followed through the formal risk process. It is also believed that risk levels are often under or overestimated. This results in an improper monitoring of the health of the program, and potential hidden costs to the customer. Corrective actions are recommended. This study has been performed as a part of a larger effort conducted by the Lean Aerospace Initiative. The present student studied risk abuse at a large aerospace company and teamed with a PhD candidate from Massachusetts Institute of Technology (MIT) who studied Risk Management in the Enterprise Organization.

AB - Risk Management and, more specifically, risk "abuse" in aerospace programs are examined. The value of each risk item considered in a program is directly linked to the ability to reduce wasted effort and time. The working hypothesis of this thesis is that not all risk items are formally reported and/or followed through the formal risk process. It is also believed that risk levels are often under or overestimated. This results in an improper monitoring of the health of the program, and potential hidden costs to the customer. Corrective actions are recommended. This study has been performed as a part of a larger effort conducted by the Lean Aerospace Initiative. The present student studied risk abuse at a large aerospace company and teamed with a PhD candidate from Massachusetts Institute of Technology (MIT) who studied Risk Management in the Enterprise Organization.

M3 - Master's Thesis

T3 - LMU/LLS Theses and Dissertations

ER -