Pm595 Course Project

Topics: Project management, Risk management, Risk Pages: 12 (2651 words) Published: February 17, 2013
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 international team of top aerospace companies is building the airplane, led by Boeing at its Everett, Washington facility near Seattle. (

According to Boeing’s statement, the 787-8 Dreamliner will carry 210 - 250 passengers on routes of 7,650 to 8,200 nautical miles (14,200 to 15,200 kilometers), while the 787-9 Dreamliner will carry 250 - 290 passengers on routes of 8,000 to 8,500 nautical miles (14,800 to 15,750 kilometers). Additionally, the 787 jets provide airlines with unmatched fuel efficiency, which overall is beneficial to the global environment. The aircraft utilizes 20 percent less fuel than similarly sized airplanes. The goals for improvements in fuel efficiency do not hinder the aircrafts speed performance. The 787 will also travel at a similar speed as today's fastest wide bodies, Mach 0.85. Overall, the airlines will that utilize the 787 Dreamliner will enjoy more cargo revenue capacity, better interior environment, increased comfort, and more efficient performance.

The background on the 787 program shows the aircraft was launched in April 2004 with a record order from All-Nippon Airways. Numerous customers from across the world have placed orders for 870 airplanes valued over $178 billion, making it the most successful twin launch of a new commercial airplane in Boeing's history. First flight of the 787 Dreamliner occurred on December 15, 2009. First delivery of the 787 to ANA took place on Sept. 25, 2011.

II. Sources of Construction Project Risk

Uncertainty in construction projects including that of constructing the Boeing 787 Dreamliner may arise from many sources and often involves many participants in the project. Therefore, it is necessary for each participant to try to minimize their own risk. This may create a clash between the various participants and as a result may be detrimental to the project. In order to mitigate these risks, the concept of "risk sharing/risk assignment" contracts has gained acceptance by the federal government. This type of contract acknowledges the responsibilities of the owners, the contract prices are expected to be lower than those in which all risks are assigned to contractors.

Sources of risks in construction projects may be classified as follows (PM Book, 2012):

1. Socioeconomic factors

a. Environmental protection

b. Public safety regulation

c. Economic instability

d. Exchange rate fluctuation

2. Organizational relationships

a. Contractual relations

b. Attitudes of participants

c. Communication

3. Technological problems

a. Design assumptions

b. Site conditions

c. Construction procedures

d. Construction occupational safety

The environmental protection movement has contributed to the uncertainty for construction because of changes in the requirements and the length of time required for approval taking into account time for re-evaluations and added costs. A similar criterion applies for Public safety regulations. This will influence the timeline and the budgets allocated for the project itself.

Economic conditions which have been fluctuating tremendously in recent...

Cited: Sources of risks in construction projects may be classified as follows (PM Book, 2012):
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