Case Analysis: Group 3: Apoorva (007) - Sneha (170) - Abhay (274) - Shubham

CASE ANALYSIS
Group 3:
Apoorva (007) | Sneha (170) | Abhay (274) | Shubham (346)
uld Lee recommend the launch or delay of Mars Mission? How do you decide thi
Critical Issues that emerged after Benefits of delaying the launch of Mars
Critical Events Readiness Review Mission
• BMSA Instruments: • Possibility of reducing the risk associated

• Risks were reduced to 3 but the with landings as higher resolution images
likelihood was still 3 leading to will be available thus reducing the
an overall heat map score of 9 overall risk to below 5%
indicating yellow risk • Delay would give them time to mitigate
• Landing site risks: other risks which are unknown at present
• 20% probability exists that • Failure of this project can have
the lander would not land catastrophic effects on the prospects
successfully of future funding because the previous
• With a likelihood of 3 and a MARS mission was also unsuccessful
consequence of 5, overall heat • An increase of 20%-40% in cost would
map of
The probability score of 15 falls
success in red zone
of project substantially
is 80% which falls below the increase the range of 90%,
acceptable
probability
hence the MBE project must be delayed to mitigate known and unknown risks
project success
Identify principal risk management processes in MBE? What
roles each play?
Compare it with your organisation risk Management processes.
The(1M/B3E) project had a 12 person risk review board, chaired by
Lee and comprising
experienced and respected technical experts from JPL, NASA and the projects prime
contractor
The review board created a culture of ‘Intellectual Confrontation’ during
three critical review meetings during the project
• Preliminary Mission and Systems Review
• Critical Design Review
• Critical Events Readiness Review
The board questioned and challenged project engineers thereby giving an outsider’s
perspective to project engineers regarding the possible risks associated with the project
The t(e2am/3)assessed the risks likelihood of occurrence 5
b ased on experience and used a two dimensional matrix 4
called as ‘Heat Map’ to evaluate the seriousness of the Likel 3
i-
issue. Each cell represents the product of risk’s hoo 2
likelihood and consequence. Based on this, the risks d
1
were classified as:
• Risks with score <=5 : Green Zone
• Risks with score (6-14) : Yellow Zone
• Risks with score (>= 15) : Red Zone
1 2 3 4 5
Consequence
Identify principal risk management processes in MBE? What
roles each play?
Compare it with your organisation risk Management processes.
For a n y new project, following steps were followed to mitigate the risks:
( 3 / 3)
• Identify
• Risks associated with the project were listed out by the various departments
involved in the project
• Assess and Evaluate
• Possible solutions and action plan was prepared by the respected departments
• These were reviewed by the senior management and appropriate course of action
was decided
• Take actions
• Actions were taken as decided upon in the meeting with the senior management
• These were reviewed continuously during the course by the concerned authorities
• Review and Report
• Final report, that contains the assessment of the risk after the proposed actions
have been implemented
• The report was reviewed by the higher management and then the proposal
was accepted
o you consider Lee as a Good Chief Risk Officer (CRO)? Justify your decision
• Relevant experience
• Prior association with the Vikings project of NASA that engineered the
first successful landing of spacecraft on Mars
• Also a part of the Galileo project which was also an inter planetary mission to Jupiter
This will enable him to have a better understanding of the risks associated with
this project and possible solutions to mitigate them
• Past association with the organization
• Having worked with NASA in the past, he had a fairly good understanding of the
organizational culture
• Realising the issue that the intellectuals from top universities face, he introduced
the concept of ‘Intellectual confrontation’
• Strong Academic background
• He was a graduate from University of Texas and MIT and holds strong academic
credentials
Because of the aforementioned reasons, we believe that Lee was a good Chief Risk Officer
What challenges Lee faced in MBE? Suppose you are the CRO at your
organization what will be the challenges you face?
Challenges faced by Lee Challenges faced by CRO at a typical
petroleum refining company
Challenge that Lee faced was the Construction of a new distillation unit,
critical decision of whether to go ahead a primary process which will generate
with the launch or to delay the project feedstock for the secondary processes.
• 6 yellow category risks were identified in • The proposed plant generally has
the PMSR stage which reduced to 2 in the interdependencies with several other
CERR stage (one in yellow and one in red secondary processes.
category) • A failed attempt to mitigate the risks in
• Overall probability of success of EDL stage the construction of the new plant may
was 80% which was much lesser than the indirectly affect other related secondary
acceptable range of 90% and more processes
• If launched and failed, this project will • As it is highly regulated industry, hence
adversely affect the future prospects of risks to meet the latest environmental
other projects regulations has to be managed to
• Delaying the project will escalate the costs stay competitive
by 20% - 40%
Is the risk management policy aligning with JPL's strategy and
Culture?
JPL’s aim was to successfully execute the space missions
• New risk management policy will help them in identifying and mitigating the
risks which in turn will help JPL to improve their success rate in tandem with their
strategy
• Cultural shift from ‘Be bold, take risks’ to new risk management policy in 2000
helped them to further reduce the risks associated with the planetary missions
• In adherence with the new policy, they embedded the risk management with
the engineering process to ensure that it is continually front of mind during the
project’s life
• Concept of ‘Intellectual Confrontation’ was introduced to make scientists
comfortable thinking about the things that can go
Hence, the new risk management policy was aligned with their strategy seeking a cultural
wrong
shift from risk taking to risk managing

Case Analysis: Group 3: Apoorva (007) - Sneha (170) - Abhay (274) - Shubham

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CASE ANALYSIS

• BMSA Instruments: • Possibility of reducing the risk associated

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