Discuss a risk management process

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Assignment:

Getting the HUMS project off the ground Health and Usage Monitoring Systems (HUMS) is a technology that uses vibration-based drive-train monitoring to accurately determine a helicopter's mechanical health and maintenance requirements. Through its implementation, operators can increase aircraft availability by reducing downtime for maintenance flights and forward plan routine repairs. Civilian oil and gas engineers first developed HUMS to improve the safety of helicopters operating in the hostile environment of the North Sea. The UK Ministry of Defence quickly realised the safety and operational cost benefits that could be achieved through embracing this new technology and started their own development programmes.

The HUMS Project Team were tasked with getting Initial and Main Gate funding approval for the technology through the Investment Advisory Board (IAB). When they got the go ahead, the project team relocated from Bristol to RNAS Yeovilton, so that HUMS could be applied to military helicopter platforms. The project's relocation and subsequent changes in personnel resulted in the loss of much, if not all, of the established risk management practice. Nobody held the position of dedicated 'Risk Manager' and the team of 12 were attempting to handle multiple disparate risk registers without risk impact assessments or mitigation actions.

Finally, the fragile relationship between the struggling project and key stakeholders disintegrated as Cost and Time criteria for the project overran. Source: Risk Decisions (2023) Getting the HUMS off the ground [online]. Accessed on: 30 January 2023

Propose and discuss a risk management process that the HUMS's project can adopt and implement.

Reference no: EM133486051

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