Problem
One vital aspect of project risk management is our capture of lessons learned about the project. Applying what we learn from project to project helps us perfect our processes and refine our methods and practices.
We will be reviewing a national tragedy that played a part in shaping project risk management as we know it today.
Required Actions:
1) Review the presentation of the Challenger Tragedy, including the video: Space Shuttle Challenger Disaster: Major Malfunction | Retro Report | The New York Times
2) Identify and give a synopsis of what you perceive to be the major risks (minimum of 3) that should have been considered BEFORE the tragedy occurred. This may require additional research on this specific incident and/or other projects of this type.
3) Using your judgment and based on additional research, how would you rank these risks?
a) Give a ranking of probability (High, Medium, Low) of each risk occurring.
b) Include the impact of each risk (High, Medium, Low).
c) Prepare a Risk Assessment Table (refer to Figure 8.1, page 293 of your text).
4) Were there any risks that should have been taken more seriously and prioritized? Were there any risks that had a higher probability of occurring?
5) Were there any triggers that indicated a potential risk was becoming a problem or issue (in other words, a realized risk)?
6) In your opinion, could this tragedy have been prevented if a thorough risk assessment had been completed and implemented? Please explain your response.