Week 4 Assignment Example | Topics and Well Written Essays - 250 words - 4

Week 4 - Assignment Example The risk management could aid in the development of the Comet in several ways to avoid the problems that emanated. The risk management could have engaged in risk identification and assessment. This could be done through proper risk analysis to establish the potential impacts of such risks. This could help in coming up with mitigative measures to such risks early enough. In addition, the risk management could have aided through monitoring of such risks and offering professional advices to de Havilland Aircraft Company regarding such risks. in addition, the risk management could have helped in ensuring design testing for the Comet to ascertain the credibility of the aircraft for its operations. There are several risks associated with any invention. These may include technical risks, financial risks, commercial risks and psychological risks. In addition, sociological risks also form part of the risks associated with innovations. In relation to the Comet, technological risks, sociological and financial risks were evident. A lot of money was invested in the design of the aircraft. In addition, several funds were invested in the manufacturing industry of the Comet. This money was invested in creating a streamlined airplane that could comfortable carry the passengers amidst maintaining aerodynamics at relatively high speeds (Case Study 7.1. Classic Case: de Havilland’s Falling Comet). Technological risks associated in the comet’s case involve the repeated accidents that befell the aircrafts leading to loss of several lives. This follows the new and radical features in such aircrafts. These new features were too risky and were associated with the explosions of fuse lages, as well as, metal fatigue from the wings of the aircrafts. The success of innovations majorly depends on the time taken to come up with such discoveries. Investing