The Titanic Risk Assessment Case Study

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User Generated

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furrxn81

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Writing

Course

Project Risk Management

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DETAILS: This assignment is focused on applying what you have learned so far regarding risk to assess a case study - the Titanic. Most of us are familiar with the Titanic and the tragedy associated with its ultimate sinking due to the impact with an iceberg. As with Week 2, we are using a historical project that ended tragically to study and assess risk. Often, we do learn a great amount from looking at failed projects. In this case, you will look at the Titanic tragedy through the lens of a project manager.

Although we all tend to focus on the end result - the sinking of the ship, for this assignment, you will need to take a few steps back and start with the beginning of the project to see what was done right and what could have been done better. We will focus primarily on "risk" and "risk assessment," but you need to put on that critical-thinking hat and carefully analyze the entire project lifecycle from inception to planning to execution to the hand off to the customer and ultimately ending with the terrible tragedy. This bears repeating - don't get so caught up in the end reuslt (the sinking), but look at the entire lifecycle as this tragedy was the result of everthing that led up to it - the good, the bad, and the ugly.

You will need to use the case study video provided above along with your assigned readings/videos, learning modules, and additional research as sources of information

EQUIRED ACTIONS:

Watch the Titanic case study video (see above) and then respond to all of topics and questions listed below. Submit your response as an MS - 800-1000 words (be thorough but succinct - - in other words work on saying more with less).
You may choose to respond by answering each question individually OR in a more holistic manner. Regardless or your approach, you MUST address ALL of the questions and topics and it must be clear to the reader what you are addressing.
Your response must be created in MS Word format. Use appropriate APA style/structure for this assignment including the use of headings, sections, references, and proper formatting for a paper. Please consult Purdue's Online Writing Lab (OWL) website or your APA guide to assist you. See: OWL APA Style Guide for assistance.
Please use at least two references for this assignment to support your responses outside the assigned readings/videos and supplemental materials already provided. When citing resources, don't forget to use in-text citations and reference citations at the end using proper APA style.

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TOPICS & QUESTIONS TO ADDRESS FOR THE CASE STUDY (Answer all INDIVIDUALLY): Remember that if you use any reference as a source for your posts, you must use the APA in-text citation format to credit the author and a reference citation at the end. 1. Give a short overview of what the Titanic was intended to do and be. In other words, what were some of the remarkable features and how was it different from any other ships of its time? What was the environment this ship was intended to be used in (conditions, function - shipping goods or people, setting, etc.)? Make this brief, but informative. 2. Through your assessment of this project, what do you perceive to be the biggest risks for this project (list at least 3-5)? Think in terms of what the project manager(s) and stakeholders should have identified and focused on considering the type of environment this ship would be exposed to and used in. Remember that they (team and stakeholders) did not know the Titanic WOULD sink, but do you think they should have considered that it COULD sink - was that a priority risk (why or why not)? Feel free to use any format to illustrate your priority risks including a risk matrix if that helps to illustrate your perspective. As a reminder if you chose to use an RPI Number and matrix: RPI Number - Although this concept will covered in future weeks, you can certainly do some research and use the "Risk Probability Impact" number (or RPI number) as a way to give a value to your risks - known as "qualitative risk analysis" (yes, 'qualitative' and not 'quantative' even though you give it a value). Using the RPI number for questions #2 is not required, but is mentioned to provide you with one option to help you rank your risks for this question. If you do decide to calculate an RPI number, you would give the probability a value (such as a % or scale like 1 to 5) and multiple it by the impact, which has also been given a value (such 1 to 5 scale). As an example, a risk that has a high probability of occurring (80% chance) and is determined to have a very high impact (value of 5 on a 1 to 5 scale) would have an RPI number of 0.80 x 5 = 4. In contrast, a risk with a low probability of occurring (10%) and a low impact (1 on a scale of 1 to 5) would have an RPI number of 0.10 x 1 = 0.1. Now, you can make a comparison and rank these risk and focus on the one with the highest RPI number. 3. Did the project team and stakeholders miss any risks or under-estimate the probability/impact of certain risks? Is it understandable that they would overlook risks or not take them seriously OR did other motivations overshadow common sense? From your research, do you perceive any ethical issues? Does it seem like a thorough risk assessment was conducted - why or why not? 4. Were there any "triggers" that indicated a potential risk was becoming a problem or issue (realized risk) during planning, executing, and after the handoff to the "customer?" 5. Anything you learned from your research and by reviewing the resources that surprised you about the Titanic (from a project management perspective)? 6. Please provide any final thoughts on the Titanic project (and tragedy) as it relates to risk management in the project environment? Do you see any lessons learned in this tragedy that could be applied to any project or one of your projects? ▪ ▪ ADDITIONAL INFORMATION ON THE TITANIC: Web Resource: 10 Reasons for the Titanic Tragedy This information is provided to give some theories on why the Titanic sank. For this assignment, do not focus solely on this part of the project lifecycle (i.e. after it was completed and handed off to the "customer" for use), but rather use this information to guide your risk assessment. VIDEO: Here is a video using CGI to illustrate the impact of the Titanic with the iceberg and the resulting sinking of the ship. This is provided only for background purposes and the focus of this assignment should not be on the ultimate result, but on events and activities leading up to it. https://www.youtube.com/watch?v=FSGeskFzE0s&feature=youtu.be https://www.youtube.com/watch?v=wbvfir2x344&feature=youtu.be
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Running head: PROJECT MANAGEMENT

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PROJECT MANAGEMENT

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Question 1
The Titanic was a steamship built in the period of early 1900s under the White Star Line.
It was intended to be the largest moving objects ever built. The well-equipped technology
installed such as the watertight compartments meant the lower side could easily be sealed off in
the case when the hull is accidentally punctured. Due to its sophisticated technology and safety
measures, the designer of the ship commented that the ship was unsinkable. The design of the
Titanic incorporated entirely new features never seen before such as the Turkish Baths,
swimming pool, and gym and Squash courts. The Titanic lavish interior and its sheer size
impressed its passengers when on tour. The interior was likened to a floating palace having the
best interior design and craftsmanship ever seen in the ocean up to this day. For example, the
grand staircase was the crowning glory of the Titanic (Gerald & Kutsch, 2010). They were
constructed from wrought iron, polished oak and assortment of boutique glass. The positioning
of the grand staircase is situated just below the beautiful dome that gave rise to natural light
illusion a...