Risk Assessment and Management in Aviation Industry

PROJECT MANAGEMENT

PROJECT MANAGEMENT 1
Introduction
The main aim of this report is to apply a concept and theory on an organisation. In this
report, Singapore Airlines and Qantas have been taken into consideration in order to
analyse their risk strategy and plan. Both the companies are operating under the same
industry that is aviation industry.
At the beginning of this report, the risk assessment strategy will be discussed. After
this the discussion is made on risk management plan. At the last, recommendation
will be mentioned in order to overcome the risk.
Risk Assessment Strategy
The organisation access the risk with the different strategies and those are beneficial
for the companies.
Qantas
Strategic Map
It is essential for the company to develop an appropriate plan in order to operate
effectively in the industry. Strategic map helps the company to work as per the maps
and in the aviation industry map is an essential part for the business. It also helps to
evaluate the position and performance of the company, if the performance is not
accurate then the chances of facing the risk is high (Dwyer 2018).
Risk scorecard
Risk scorecard is a strategy that helps to evaluate the risk which is faced by the
company. The company faces the physical risk such as damage to their buildings, or

PROJECT MANAGEMENT 2
a computer system failure. Qantas faces the risk while changing network that is why,
risk scorecard is a table which is developed by the companies in order to evaluate the
performances (Almeida, Heitor, Kristine, and Ryan 2018)
Singapore Airline
Strategic tools
It has been seen that the Singapore Airline faces the external risk such competitive
challenges, or economic uncertainty. The company has to analyse the external factor
by using the strategic tools (Wiengarten, Frank, Paul, Humphreys, Cristina, and
Ronan McIvor 2016). The strategic tools help to evaluate the risk and threats related
to the external environment of the organisation (Matulevičius, Raimundas, Alex
Norta, Chibuzor Udokwu, and Rein Nõukas 2017).
Balances scorecard
The company has to adopt the balance scorecard in order to determine the mission and
vision with the actual actions. The organisation faces the physical risk such as human
resource. This tool helps to evaluate the mission and vision with its actual
performance and then it is easy for the company to identify the obstacles (McNeil,
Alexander, Rüdiger Frey, and Paul Embrechts. 2015).
Strategy/ Plan
Qantas
The Qantas faces the complex threat from individual and organisations globally. The
company adopts the strategic steps to minimise the risk. It adopts the different step for
operation safety as well as people safety