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The document discusses the risks involved in the development of the Comet aircraft. It identifies technical, commercial, and execution risks. The technical risks were increased due to new technologies and designs being developed too quickly. Commercial risks stemmed from the goal of beating competitors to market. Execution risks resulted from new methods and technologies not being fully understood during production. The key risk was that design and testing were rushed in an effort to be first to market, which likely led to failures that ultimately grounded the Comet fleet. Proper risk management could have identified issues and led to a successful rollout.
The document discusses the risks involved in the development of the Comet aircraft. It identifies technical, commercial, and execution risks. The technical risks were increased due to new technologies and designs being developed too quickly. Commercial risks stemmed from the goal of beating competitors to market. Execution risks resulted from new methods and technologies not being fully understood during production. The key risk was that design and testing were rushed in an effort to be first to market, which likely led to failures that ultimately grounded the Comet fleet. Proper risk management could have identified issues and led to a successful rollout.
The document discusses the risks involved in the development of the Comet aircraft. It identifies technical, commercial, and execution risks. The technical risks were increased due to new technologies and designs being developed too quickly. Commercial risks stemmed from the goal of beating competitors to market. Execution risks resulted from new methods and technologies not being fully understood during production. The key risk was that design and testing were rushed in an effort to be first to market, which likely led to failures that ultimately grounded the Comet fleet. Proper risk management could have identified issues and led to a successful rollout.
Running head: RISK MANAGEMENT IN THE DEVELOPMENT OF THE COMET 1
Risk Management in the Development of the Comet
William Taylor Pittman PJM380-1 Project Management Tools Colorado State University Global Campus Professor Michael Laverty June 6, 2014
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Risk management in the development of the Comet Introduction From the article, little is known about the Havillands companies risk assessment on and during the development of the comet. For the purposes of this case analysis, we will assume no risk analysis took place in any of the phases associated with design and production. Risk management, if it had been implemented into the comets development may have highlighted many potential issues.
Risks for the Comet Various types of risk were present in the development of the Comet. Here, we will examine the technical, commercial, and expectation risks associated with the project. Technical. We will first consider the technical risk. With designing any new airframe, there is already an inherent technical risk associated with producing a new product. This risk was amplified by two factors. First, the technical risk was increased with the planes new design, including many new technologies. Technologies not familiar to those in charge of implementation into a project are at a higher risk for failure from improper utilization. There is also an associated higher risk with new technologies sourced from outside vendors. The technical risk was next amplified by the speed at which the project was undertaken, in the design phase. This speed up in time caused less time to be spent in the design phase, leaving room for failure
Commercial. Facing competition from boing, Havillands goal was to introduce its new aircraft as quickly as possible With any new product to be sold there is an associated commercial risk. This baseline commercial risk is associated with a products viability in the market place as well as dealing with competition. Havillands goal was to beat their competitor RISK MANAGEMENT IN THE DEVELOPMENT OF THE COMET 3
Boing to the market place with their new fifty passenger jet. It is advantageous for a company producing a new product to get to the market first. This establishes a foothold in the market, enables no competition, and provides the producing company with one-hundred percent market share. Although Havilland produced their jet first and eliminated the largest factor in the commercial risk, the rate of design and production caused inferior quality and testing. Execution. The execution risk associated with the comets production was caused by two factors. The new technologies and methods of construction were unknown to those performing production. With less understanding of what youre working with comes more risk in its implementation. The most obvious added risk to the Comet project is the increase in execution risk associated with the speeding up of production. This speed increase in production most likely directly influenced final quality of the Comet aircraft. Critical Error in the Development of the Comet.
Given that a modified version of the Comet was successfully used by the British government in anti-submarine warfare suggests that the problems with the Comets operation were design oriented and solve-able. With more time, the British government made a successful fleet of Comet aircraft. If Havilland had devoted more time to the design and testing of the aircraft, a successful application to the market may have taken place. Failure is the price we pay for technological advancement. In technology, finding are made through research and development, as well as mistakes. The mistakes and failures made when implementing new technologies should always be thoroughly documented as we can learn from them.
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Conclusion. If Havilland had implemented risk assessment and mitigation strategies, a successful application of the Comet to the air fleet comprised of many commercial airlines could have been realized. The speed at which design took place ultimately caused the failure of the project. This is a valuable example how not considering the appropriate risks can prove to be disastrous.
Qualitative Risk Matrix
Insignificant Moderate Major Severe Rare Unlikely Commercial Possible Execution Likely Technical Almost Certain P r o b a b i l i t y