Risk Factor Analysis— A New Qualitative Risk Management Tool John P. Kindinger, Probabilistic Risk and Hazards Analysis Group, Los Alamos National Laboratory John L. Darby, Probabilistic Risk and Hazards Analysis Group, Los Alamos National Laboratory Introduction Project risk analysis, like all risk analyses, must be implemented using a graded approach; that is, the scope and approach of the analysis must be crafted to fit the needs of the project based on the project size, the data availability
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I. Problems: A. Macro 1. Culture Resistance To Change – Currently the Director of Accounting and the Production Manager are against the proposal because of the high risk, the uncertain results, and the need for new machinery for the current production line. Without all the management in agreement it can prevent the company from remaining competitive or adapting to a changing environment. 2. The Organization needs to remove the fear of failure and provide a climate that supports the risk that
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Wengart Aircraft Case 1. What are the macro and/or micro level problems? 2. What are the potential causes (please support your view)? 3. What are your recommendations? The macro problems include top management not thoroughly understanding, implementing or communicating TQM to their employees. This caused negative rumors to develop. Larsen also said that he was too busy which indicates that the company does not have management buy-in on the TQM project. The micro problems include the quality
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Wengart Aircraft Problems Macro There is a lack of understanding of TQM and how to implement it. Management did not fully commit to TQM; management looked at the TQM as a production issue and focused its leadership to solve the problem with its Vice President (VP) of production. It also failed to recognize that TQM is an organization wide effort and must be enforced, encouraged and supported from Top management in word, deed and philosophy at every opportunity. Training, is knowledge and
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Pricing: Overall, Porsche is strongly positioned to differentiate themselves and produce vehicles at a profitable, competitive price. Technology sharing with the Volkswagen group allows for efficient cost competitive production that should become even more efficient over time, and current assets help keep fixed costs down. One major weakness at this point is the dilution of brand image. Although Porsche was saved from bankruptcy by the introduction of down-market or recession models such as
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Case Analysis Wengart Aircraft Case Week 5 At its core, Total Quality Management (TQM) is a management approach to long-term success through customer satisfaction (Brown, 2011, p. 344). TQM is an organization-wide change movement towards streamline work-groups and structure. In a TQM effort, all members of an organization participate in improving processes, products. One of the large problems facing Wengart Aircraft is total quality management (TQM) is not being communicated clearly and
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WENGART AIRCRAFT: BRIEFING NOTES Source: Harvey, D. & Brown, D. (2001). An experiential approach to Organisation Development (6th. Ed.). Upper Saddle River: Prentice-Hall. President Ralph Larsen of Wengart Aircraft has become increasingly concerned about profits. Though he is not fearful of a company takeover, he does feel an obligation to maximize shareholders' return on their investment. He and about a dozen top executives receive sizable stock bonuses, so it is to their advantage to obtain
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airline industry is so saturated that there is hardly space for a newcomer even to squeeze its way in. The biggest for this is the cost of entry. The airline industry is one of the most expensive industries, due to the cost of buying and leasing aircrafts, safety and security measures, customer service and manpower. Another major barrier to entry is the brand name of existing airlines and it is really difficult to lure customers out of their existing brands. On the other hand, a newcomer could enter
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Individual Reflection Paper Before beginning our analysis of the airline industry, I had made some assumptions based solely on my experience as a customer. Some of which were verified but others turned out to be false. Seeing that there are minimal competitors, I assumed that it would be a difficult market to enter which was verified in our study showing the airline industry is an oligopoly. Another pre-conceived notion about the industry that proved to be correct was how fuel cost drove airfare
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station and affords far greater flexibility in employment of aircraft. Air-to-Air refuelling can be used to enhance the capabilities of virtually all types of aircraft. The IAF has recently acquired air-to-air refuelling capability with the induction of IL-78 Flight Refuelling Aircraft (FRA) in its inventory. 2. The induction of the FRA would result in a considerable increase in the duration of fighter flights. Flights of fighter aircraft, which were earlier restricted to approx. 2 ½ to 3 hours
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