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Mba 620 risk impact assessment michelle ferola

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Risk Impact Assessment
MBA 620-R4430
Southern New Hampshire University
Michelle Ferola
Dr. Tomoiaga
June 13, 2021

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Identification
An operational risk that TransGlobal Airlines faces is an aircraft that malfunctions
in flight and needs to be fixed or replaced before it runs the full life cycle. This would also be
considered a high impact risk. A strategic risk that TransGlobal faces is competition in a growing
market. On the balanced scorecard, the aircraft malfunction would fall into the financial sector,
and the competition would fall into the internal processes sector.
Evaluation
The probability of an aircraft malfunctioning in flight is low, but the impact is
high. According to the FAA, the failure rate for engines in an aircraft is 1 per 375,000 flight
hours (Twin and Turbine, 2020). That is equivalent to over 15,000 days. That shows that it is a
low probability, however it can be very dangerous for this malfunction to happen and can result
in loss of life or serious injuries, which is why it is a high impact. The probability of competition
within the airline industry is high, and the impact would be high as well. Competition can come
from different places, such as a new airline entering the industry, or other airlines having more
affordable tickets and deals. The impact from competition can be high because if TransGlobal
does not stay competitive with the other airlines, it can lead to large loss in customer base and
possibly bankruptcy.
Mitigation
A risk-prevention strategy that can be put in place for the possibility of a malfunction on
the aircraft while in flight is to run a series of tests before and after each flight and record the
results. This way if anything seems off, the data will be there to compare and help identify what
needs to be done. Regular preventive maintenance should be performed as well. A strategy for
handling competition with other airlines is to make sure an internal team is monitoring market

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Risk Impact Assessment MBA 620-R4430 Southern New Hampshire University Michelle Ferola Dr. Tomoiaga June 13, 2021 Identification An operational risk that TransGlobal Airlines faces is an aircraft that malfunctions in flight and needs to be fixed or replaced before it runs the full life cycle. This would also be considered a high impact risk. A strategic risk that TransGlobal faces is competition in a growing market. On the balanced scorecard, the aircraft malfunction would fall into the financial sector, and the competition would fall into the internal processes sector. Evaluation The probability of an aircraft malfunctioning in flight is low, but the impact is high. According to the FAA, the failure rate for engines in an aircraft is 1 per 375,000 flight hours (Twin and Turbine, 2020). That is equivalent to over 15,000 days. That shows that it is a low probability, however it can be very dangerous for this malfunction to happen and can result in loss of life or serious injuries, which is why it is a high impact. The probability of competition within the airline industry is high, and the impact would be high as well. Competition can come from different places, such as a new airli ...
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