...Case Study 3: Risk Management on a Satellite Development Project Machelle L. Green Prof. N. Lattus Human Resource Project Management August 22, 2013 Importance of Having a Risk Plan Risk management involves performing SWOT analysis of Strengths, Weaknesses, Opportunities and Threats relating to details of project planning, financing, construction, operation and transfer (Duff, 2013). The Satellite Development Project developed a risk plan early in the beginning of their project phase. They focused on four core unknowns such as cost, time, scope and resources. If the Development Project had not developed a risk plan that focused closely on avoiding issues with the four core unknowns, there are many risks that could have occur and delayed the project. The first risk involves whether the project has been properly planned, adequately priced and funded (Duff 2013). The cost of a project is an issue that definitely would have developed without the team being preparing for the risk. The cost of carrying out a project is largely dependent on the funding made available to secure the project. The idea of reducing the cost of funding for the project makes the stakeholders happy as well as all involved as it contributes to the success of the project. Time is as important as the plan itself. The Satellite Development Project had a tight time line for production. Often time lines are needed to give each development a chance to produce the final product...
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...Journal of Space Technology, Vol 1, No. 1, July 2012 Risk Management Strategy for Remote Sensing Satellite Project, following the customization of ECSS Standards Musaddiq Ali Shah#1, Faisal Yousuf Khan#2Asma#3 Satellite Research & Development Centre, Karachi Pakistan Space & Upper Atmosphere Research Commission Tell# +9221 3523 3354, Fax# +922135293208 1 pm.prss@suparco.gov.pk 2 fyk73@yahoo.com 3 asma.riaz21@yahoo.com Abstract— It is a very well established and understood aspect, that to be successful in a mission/project, the executing organization must be dedicated to deal with the management of the risks, proactively and constantly, during all the phases of the project/ mission. In fact the mission risks have their origins in the unpredictability factor that is there in all the missions; whereas the major aims of the risk management strategy are to maximize the likelihood and consequence of the constructive actions, and minimize the possibility and consequence of the actions undesirable to the mission. The Cooperation European for Space Standardization (ECSS), Management of Risks standard provides a state of the art model for integrated risk management, in space related projects; describing the principles and requirements, to enforce a mission-incorporated, management of risks policy, undertaken by the mission stakeholders. In this presented research work, we have customized the Risk Management ECSS standard, for the specific characteristics and...
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...Terra Cog new project GPS (Global Positioning System) named Aerial. Old customers of TerraCog keeps asking about the same type prototype of GPS as new competitors lauched named ,,Ibird’ –with satellite imaginary system. That product is almost the same quality as the old TerraCog GPS model ,but people find need to have separate product with satellite imaginary function.Firsly TerraCog was not impressed with product .But after ,,Ibirds’’ success and grown custumers asking ,about TerraCog’s version of product,they decides to launch version Aerial on minimum price level. Agreement about price setting on Aerial. Sales team and director decides to make aerial product,but only redesign the product what they have.They talk to r&d team but they aren’t enthuasiastic about new product,1.time they should prepare product only 6 month (time pressure) and 2.there are few other projects they are working and believing in those success Research & Development team developed product with high costs and because the cost price could not compete with competitors, sales team keeps asking to reduce product costs.In meeting ,people from different teams and sitting together, talking problems with each other and not trying to solve the problem,sales team asking to reduce costs,r& d team saying that they cant reduce costs. After the week they also can’t set the price, r& d acting like they don’t care ,they feel that they did everything what they can, sales people believing that...
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...1) The iridium project was designed to create a worldwide wireless handheld mobile phone system with the ability to communicate anywhere in the world at any time. Iridium’s innovation was to use a large constellation of low-orbiting satellites and this could make the phones much smaller and the voice delay imperceptible.Dr.Leopard made a design in which the entire system would be inverted and only one gateway earth station would be required to connect mobile to landline calls to existing land bases telephone system. The general manager of the company believed in this project and viewed it as a potential symbol of technological prowess. The challenge also provided motivation for the engineers .In order to minimize exposure to financial risk, Iridium started as a project financed company. The 12 regional gateways made Iridium a global project and it made it easy to get regulatory approval to operate in 170 countries. Gateway owners were granted seats on the board of directors. Meetings were conducted between these 28 board members. Iridium also exposed Motorola in developing satellite technology that would provide significant expertise in building satellite communication systems and vast intellectual property. The design of Iridium network allows voice and data to be routed virtually anywhere in the world. They had excess satellites in the orbits which are ready to replace any unserviceable satellites. It ensured that every region of the globe is covered. Ground network is comprised...
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...Software Risk Management: Principles and Practices BARRY W. BOEHM, Defense Advanced Research Projects Agency I) Identzhing and dealing with risks early in development lessens long-tem costs and helps prevent so@are disasters. It is easy t o begin managing risks in your environment. their early stages, the software field has had its share of project disasters: the software equivalents of the Beauvais Cathedral, the hWlS Titanic, and the “Galloping Gertie” Tacoma Narrows Bridge. The frequency of these software-project disasters is a serious concern: A recent survey of 600 firms indicated that 35 percent of them had at least one runaway software project.’ Most postmortems of these softwareproject disasters have indicated that their problems would have been avoided or strongly reduced if there had been an explicit early concern with identifylng and resolving their high-risk elements. Frequently, these projects were swept along by a tide of optimistic enthusiasm during their early phases that caused them to miss some clear signals of high-risk issues that proved to be their downfall later. Enthusiasm for new software capabilities is a good thing. But it must be tempered with a concern for early identification and resolution of a project’s high-risk elements so people can get these resolved early and then focus their enthusiasm and energy on the positive aspects of their product. Current approaches to the software process make it too easy for projects to make high-risk commitments...
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...Risk Management Student Name Institution Risk Management for a Satellite Development Project When a project manager talks about a project risk management plan, what comes in the participant mind? The list and document that have a number of foreseeable risk, estimated level of impacts as well as the established responses to issues. This establish the risk assessment matrix which help to assess the level of impact as it occur. The risk is an event that has a positive or negative impact to a project and is inherent to any project. The plan contains analysis of risk as a high or low impact as well as the mitigating strategies that aid in meeting the schedule of the project. The mitigating strategies may involve one or more of the following strategies; risk avoidance by change of plan, risk control or mitigation which is taking chance of the impact as well as likelihood of occurrence, risk acceptance or risk transfer to a third party through sub-contracting. However, after development, the plan should be reviewed from time to time to avoid the change of risk without knowledge. Issue that may arise due to lack of a risk management plan Lack of a contingent plan to avert risk in a project can have adverse effect. The project team may be faced with the challenge of analysis by paralysis. Due to lack of prier knowhow of any risk inherent to the project, the team may be lost in the process of analysis of data when risk avails. This put them in a compromising situation...
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...Hi, I can help you with a few pointers to start you off on this project. You would begin by completing the company profile as this will help you to understand where the company stands in the market place and the importance of how they handled the project. I hope you like airplanes, as it would help with enjoying this project. Introduction:- Boeing is the world's leading aerospace company and the largest manufacturer of commercial jetliners and military aircraft combined. Additionally, Boeing designs and manufactures rotorcraft, electronic and defense systems, missiles, satellites, launch vehicles and advanced information and communication systems. As a major service provider to NASA, Boeing operates the Space Shuttle and International Space Station. Corporate Profile: 1. Boeing corporate office is located in Chicago, Illinois. 2. Boeing employs more than 158,000 people across the United States and in 70 countries 3. Manufactures commercial and military aircraft, designs and manufactures rotorcraft, electronic and defense systems, missiles, satellites, launch vehicles and advanced information and communication systems. Boeing also operates the Space Shuttle and International Space Station. 4. Boeing outsource some of their manufacturing to national and foreign suppliers and assemble and manufacture in their Everett plant in Washington. 5. Boeing aggressively advertises its Commercial Airplanes' and run a special television add on Memorial Day to honor veterans. 6. A TV...
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...Implementation and Development of Vehicle Tracking and Immobilization Technologies MTI Report 09-04 MINETA TRANSPORTATION INSTITUTE The Norman Y. Mineta International Institute for Surface Transportation Policy Studies (MTI) was established by Congress as part of the Intermodal Surface Transportation Efficiency Act of 1991. Reauthorized in 1998, MTI was selected by the U.S. Department of Transportation through a competitive process in 2002 as a national “Center of Excellence.” The Institute is funded by Congress through the United States Department of Transportation’s Research and Innovative Technology Administration, the California Legislature through the Department of Transportation (Caltrans), and by private grants and donations. The Institute receives oversight from an internationally respected Board of Trustees whose members represent all major surface transportation modes. MTI’s focus on policy and management resulted from a Board assessment of the industry’s unmet needs and led directly to the choice of the San José State University College of Business as the Institute’s home. The Board provides policy direction, assists with needs assessment, and connects the Institute and its programs with the international transportation community. MTI’s transportation policy work is centered on three primary responsibilities: Research MTI works to provide policy-oriented research for all levels of government and the private sector to foster the development of optimum surface...
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...Executive Management Team FROM: Pat Innes, CMA Re: Strategic option for HIV/AIDS operation in Asia and Africa EXECUTIVE SUMMARY: Foreign Aid Canada (FAC) is a charitable organization whose mandate is to provide humanitarian aid in Asian and African Regions through Relief and Development projects. FAC's new mandate includes providing treatments for HIV/AIDS in these regions as of 2013. FAC's Strategic goal is to provide help to 3000-6000 patients in these HIV/AIDS stricken regions, while maintaining a cost of less than $700/patient /year and keeping its Support to Activity Service cost ratio less than 20%. Two alternatives are evaluated. The First alternative is to build 2 AIDS clinics and the second alternative is to operate 4 mobile clinics. It is recommended that FAC accept alternative 2 and operate 4 Mobile clinics. INTRODUCTION The purpose of this report is to analyze FAC's current business situation, evaluate business opportunities and provide recommended course of action. To achieve this, the report will provide a situational analysis, an analysis of alternatives, recommendations on strategic and operational issues and an implementation plan. SITUATIONAL ANALYSIS Mission: FAC's revised mandate is to provide humanitarian emergency relief, development assistance, through agricultural, water, and irrigation projects, and HIV/AIDS prevention and treatment programs in African and Asian countries in need. Strategic Goals: 1. Undertake AIDS project that...
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...Strategic Finance Management Project [pic] Iridium LLC Submitted to Prof. S. Kuntluru Prepared By GROUP 7 Ajinkya Parab (20% contribution) Azeera Aziz (20% contribution) Keerthi Sindhuri (20% contribution) Shachi Tayal (20% contribution) Shraddha Jose (20% contribution) 1. Assuming the market was rational at the time (i.e. market prices reflect fundamental values), how much was Iridium worth on a per share basis at the end of 1998 according to the projections in Exhibit 5? What are the important determinants of value? How confident are you in your answer? (Please assume the market risk premium equals 7.5%.) |Year |1998 |1999 |2000 |2001 |2002 |2003 |2004 |2005 |2006 |2007 | | |A |Interest expense |265 |387 |454 |424 |278 |59 |0 |0 |39 |92 | | |B |Net Income |-1253 |-1549 |-81 |996 |1911 |2948 |3284 |3468 |3590 |3658 | | |C |Dep Expense |552 |811 |966 |1213 |1333 |1084 |1109 |1020 |822 |605 | | |D |Inc in NWC |-398 |290 |63 |-102 |-81 |-54 |-28 |-12 |-4 |-1 | | |E |Cap Expenditure |716 |927 |1349 |1246 |1258 |1274 |385 |391 |413 |844 | | | =A+B+C-D-E |Cash Flows |-754 |-1568 |-73 |1489 |2345 |2871 |4036 |4109 |4042 |3512 | | | |PV of Cash flows |-754 |-1369.85 |-55.7157 |992.8338 |1366.004 |1461.065 |1794.382 |1595.979 |1371.559 |1041.118 |7443.375 | | Discount rate = 5.09 + 1.25*7.5 = 14.65% NPV of all cash flows = $ 7443. 375 Approximate PV of terminal value from Exhibit 4b - $ 8000 Company Value = PV of Terminal...
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...HOMEWORK #1 – SAMPLE SOLUTION SAMPLE #1 DENVER AIRPORT: AUTOMATIC BAGGAGE - HANDLING SYSTEM System Overview Early in the planning stage, United Airlines insisted on an automated high speed baggage system. Denver officials had sound reasoning in choosing to install an automated baggage handling system. The Airport was approved in 1989 and planned to be operational by end of 1993. They designed a large scale baggage handling system that cost $193 million. The system requires no manual labor personal and was designed to run faster and more reliable than traditional technology. The original system relied on a network of 300 computers to route bags and 4000 telecars, carry luggage across 21 miles of track. Laser scanners were to read multi-digit bar-coded luggage tags, while photocells tracked the movement of toboggon-like baggage carts. But buggy software crashed the system again and again. The resultant delay in opening has cost the city of Denver and the airlines roughly $1 million per day. Problems Hardware and software bugs (not fully tested), telecars were misrouted and crashed baggage was lost and damaged. This problem occurred as follows : The baggage system continued to unload bags even though they were jammed on the conveyor belt, because the photo eye at this location could not detect the pile of bags on the belt and hence could not signal the system to stop. The baggage system loaded bags into telecarts that were already full, because the system had lost track...
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...“Risk Management on a Satellite Development Project” Case Study #3 Tammie Y. Harris Professor Dr. Mary Hair Collins Managing Human Resource Projects- HRM517004VA016-1128-001 December 5, 2012 1.) Suggest the issues that could have developed had the team not had a risk plan. The prime factor of project team failure is poor overall initial planning. When unrealistic goals are set, creating a chaotic working atmosphere there is nothing but sheer failure in the near future. There are two causes for team project failures; overdue/missed time standards, and going beyond set financial plans. With the interpretation of day-to-day basis risk assessments into team developed projects, there is a more realistic set of guidelines put in place. The definition of a risk assessment states, it is the “identification, evaluation, and estimation of the levels of risks involved in a situation, their comparison against benchmarks ors standards, and determination of an acceptable level of risk. With set risk assessment techniques, you further eradicate all possible liabilities or future occurrences within the project team. An essential of having a successful project management team, is having strategic risk management techniques. When planning with a project team it is strongly advised to think in a futuristic mindset, thinking of the “what-if’s, how-do’s, how-come’s”, planning out all possible risks to the team. There are various explanations of project team, failure, including:...
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... Boeing is the world's largest aerospace company and leading manufacturer of commercial jetliners and defence, space and security systems. A top U.S. exporter, the company supports airlines and U.S. and allied government customers in 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defence systems, launch systems, advanced information and communication systems, and performance-based logistics and training. Boeing employs more than 165,000 people across the United States and in more than 65 countries. What Boeing Does Today • Design, assemble and support commercial jetliners – Boeing 7-series family of airplanes leads the industry – Commercial Aviation Services offers broad range of services to passenger and freight carriers • Design, assemble and support defence systems – World’s largest designer and manufacturer of military transport, tankers, fighters and rotorcraft – Global Services & Support provides services to government customers worldwide • Design and assemble satellites and launch vehicles – World’s largest provider of commercial and military satellites; major service provider to NASA and prime contractor for the International Space Station • Integrate and support large-scale systems, develop networking technology and network-centric solutions • Provide financing solutions focused on customer requirements • Develop advanced systems and technology to meet future customer needs ...
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...(Points: 2) Culture Environment Atmosphere Values 3. Networking and telecommunications technologies, along with computer hardware, software, data management technology, and the people required to run and manage them, constitute an organization's: (Points: 2) Data management environment Networked environment IT infrastructure Information system 4. Key corporate assets are: (Points: 2) Intellectual property, core competencies, and financial and human assets. Production technologies and business processes for sales, marketing, and finance. Knowledge and the firm's tangible assets, such as goods and services. Time and knowledge. 5. A managerial element in the UPS tracking system described in the chapter is: (Points: 2) Taking inventory Providing package status reports to customers The decision to use computer systems In-house package tracking software 6. The term "management information systems" designates a specific category of information systems serving: (Points: 2) Integrated data processing throughout the firm Transaction process reporting Employees with online access to historical records Middle management functions 7. These...
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...“Risk Management on a Satellite Development Project” Case Study #3 Marie G. Williams Human Resource Project Management 517 Dr. Annette West March 3, 2014 1. Suggest the issues that could have developed had the team not had a risk plan. The main factor for not completing the project is team failure which is because of poor overall initial planning. When there are unrealistic goals being set, creating a chaotic working environment there is bound to be nothing but pure failure of the project and its success in the near future. There can be two major causes for the team project failures; overdue or missed time standards, and going beyond set financial plans. With the interpretation of day to day basis risk assessments into team developed projects, there is a more realistic set of guidelines, and procedures put into place. The definition of a risk assessment states, “that it is the identification, evaluation, and estimation of the main levels of risks involved in a situation, their comparison against benchmarks or standards, and determination of an acceptable level of risk”. With set risk assessment techniques, the team may further eradicate all possible liabilities or future occurrences within the project team. The essential of having a successful project management team is very important. Having strategic risk management techniques is essential. When planning a project team, it is sometimes strongly advised to think in a futuristic mindset by thinking of the what if’s how...
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