Pm595 Course Project Essay

2644 Words Feb 10th, 2013 11 Pages
Boeing 787 Dreamliner

Risk Management Plan

February 17, 2013

Table of Contents

I. Introduction

II. Sources of Construction Project Risk

III. Systems to Address Construction Project Risk

IV. Catastrophic Failure Fault Tree

V. Course Project Part 1

VI. Fault Tree One

VII. Fault Tree Two

VIII. Project Risk Summary

IX. Conclusions

X. Works Cited

I. Introduction

Boeing Commercial Airplanes' launched the 787 Dreamliner, a super-efficient airplane in order to meet the growing needs and preferences of an international audience across the globe. An
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A risk is an unforeseen event that might negatively impact on the project in the future (Young, 20120). Each risk must be documented to analyze and determine its likelihood and impact on the project.

c. Planning-Plan risks wisely

Proper planning will allow construction project risks to be known upfront. Therefore, a risk plan can be developed. The risk plan will enable the team to identify actions that can be taken to reduce the likelihood of the risk occurring. It will allow for alternate scenarios or backups to be available.

IV. Catastrophic Failure Fault Tree

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Discussion of Fault Tree

A potential catastrophic failure in construction projects can occur from changes in the economic conditions. Due to the recent state of the economy, there have been numerous changes to the lending market. These changes may prove catastrophic to Boeing and its construction of the 787 Dreamliner aircrafts. For example, in the scenario listed above, changes in the ability to finance the project may either render in unaffordable or may delay the expected timeline of completion. In the case that Boeing is unable to afford the project, it would have to abandon the construction of the aircrafts; therefore it would be unable to deliver the aircrafts to the various airlines which have ordered them. Therefore, it is important for the company to keep these factors in mind when developing the project risks. For example, if the

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