The Implementation Of Risk Management At Aerospace Manufacturing Company

Nor Haslina, Sobiren (2009) The Implementation Of Risk Management At Aerospace Manufacturing Company. Project Report. UTeM, Melaka, Malaysia. (Submitted)

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Abstract

This report presents the study of risk management implementation in an aerospace manufacturing company. The process of risk management is performed in CTRM AC (Composites Technology Research Malaysia – Aero Composites) Sdn Bhd, Batu Berendam, Melaka. The company has decided to implement risk management so that the mission and vision of the company are not affected by the potential risks. The objectives are to study the nature of risk management, develop a structure of risk management process, and to measure the effectiveness of the implementation at the selected company. This report focuses on the process of managing operational risks of the company by adopting the AS/NZS 4360:2004 Risk Management Standards as reference. The methods training, brainstorming, checklist, survey and questionnaires, and risk score matrix are used during the study. These methods are determined from literature review. A structure of risk management process is developed from the methodology mentioned earlier. The structure is implemented at Strategic Development Department (SDD) and Paintshop Department (PD) as a pilot study. The structure consists of risk assessment which is risks identification, risks analysis, risks evaluation, and risks treatment. The effectiveness of the implementation is measured by how many basic requirements are fulfilled. It is also measured by determining which components is improved and significantly changed due to the implementation.

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