Managing Risk at Qantas Airline: Policies, Procedures, and Factors

This report provides an analysis of risk management at Qantas Airline, covering the identification of current policies, processes, and procedures. It examines the scope of risk management within the airline, considering factors such as political, financial, social, legal, and technological influences. The report identifies critical success factors for effective risk management, including employee satisfaction and productivity. It also details the stakeholders involved, both internal (employees) and external (clients, suppliers, and audit agencies), and explores communication processes with stakeholders through conferences and emails. Furthermore, the report describes the level of support required for risk management, emphasizing the importance of government and internal stakeholder participation for implementing approaches and enhancing safety awareness. The report concludes with references to relevant academic sources.

Running head: MANAGING RISK
Managing Risk
Name of the Student:
Name of the University:
Author’s Note:

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Table of Contents
1. Identification of the current risk management policies processes and procedures in context of
Qantas Airline..................................................................................................................................3
2. Scope of the risk management.....................................................................................................3
3. Impact of different factors on risk management..........................................................................3
4. Critical success factor..................................................................................................................4
5. Identification of the stakeholders.................................................................................................4
6. Communication process with the stakeholders............................................................................4
7. Description of the support level for risk management.................................................................5
References........................................................................................................................................6

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1. Identification of the current risk management policies processes and procedures in
context of Qantas Airline
Qantas airline has undertaken specific safety policies and procedures in order to manage
the risk. However, it is important for the aviation industry to take good steps for risk
management (Yilmaz and Flouris 2017). Identification of risk and hazards in the workplace is a
vital process o such organization to manage risk. Therefore, analysis, control and monitoring the
risk are the major processes of such organization. Protection of airspace and reduction of
dangerous goods are undertaken by this organization to reduce risk. This organization follows
Australian Transport Safety policy ATSB). Among such risk management procedures
identification of the risk is considered as the strength while maintenance only ATSB policy is
considered as the weakness of such organization. However, this organization needs to follow
more policies of the airline government to reduce risk.
2. Scope of the risk management
Establishment of an efficient organizational framework can be done by managing risk
(Wada et al. 2017). However, in the context of Qantas airline identification of the hazards in the
workplace leads this organization to understand the background of the risk. Development of the
effective framework is considered as the scope of risk management as a safe working culture
enhances the organizational performance by providing a healthy environment to the stakeholders.

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3. Impact of different factors on risk management
Political factors like the introduction of new government rule often lead the organization
to change their risk management policy. Lack of proper financial resources hampers the risk
management process (Kleymann and Seristö 2017). Social factors like the lifestyle of people
influence the risk management process. Legal factors force the organization to change their risk
operation approach. Technological and policy allows the organization to implement the new
methodology to manage risk in the workplace.
4. Critical success factor
A safe and effective working culture causes employee satisfaction. This also leads the
organization to get more productivity, which ensures the success of the risk management
process.
5. Identification of the stakeholders
Internal stakeholders of Qantas airline refer to their employees while external
stakeholders refer to clients, supplier and audit agency. The internal stakeholders face their
safety issue in the aviation industry while the external stakeholders face issues during their
inspection due to lack of proper data (Davies and Delaney 2017).
6. Communication process with the stakeholders
Conducting conference and by using e-mail the organization can communicate with their
stakeholders (Yilmaz and Flouris 2017). This will enable the organization to deliver key

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messages by using delivery strategy. This also encourages the stakeholders to give more input in
their work.
7. Description of the support level for risk management
Qantas airline needs government support and support from the internal stakeholders.
However, government support will enable such organization to implement their risk management
approach without any legal issue (Wada et al. 2017). Therefore, the participation of the internal
stakeholders in risk management will enhance the safety awareness by sharing safety information
in the workplace. In order to get the government support, such organization can send the
application for their new risk management approach for its approval. Therefore, by providing the
guideline to the employees this organization allows the employees to understand the importance
of risk management in the workplace.

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References
Davies, J.M. and Delaney, G., 2017. Can the aviation industry be useful in teaching oncology
about safety?. Clinical Oncology.
Kleymann, B. and Seristö, H., 2017. Managing strategic airline alliances. Routledge.
Wada, M., Delgado, F. and Pagnoncelli, B.K., 2017. A risk averse approach to the capacity
allocation problem in the airline cargo industry. Journal of the Operational Research
Society, 68(6), pp.643-651.
Yilmaz, A.K. and Flouris, T., 2017. Resource Dependency Risk Management. In Corporate Risk
Management for International Business (pp. 49-64). Springer Singapore.