Risk Based Internal Audit Aneel Gambhir Sr Vice President – Internal Audit Blue Dart Express Ltd.
3 Dart Risk Management Case Study
Transcript of 3 Dart Risk Management Case Study
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DART Risk Management Case Study- Ie. Ignatius Eric Cahya Saputra -- Jessica Gunawan -
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Agenda IntroductionSix Steps of Harvard Business
StrategyProblem IssuesEnvironmental ScanningAlternative Courses of ActionsKey Success FactorsSelection of the Best AlternativesRecommendations
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Introduction- Jessica Gunawan -
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IntroductionDART (Demonstration of Autonomous Rendezvous
Technology) : Was proposed by Orbital Sciences Corporation (OSC) Selected by NASA in 2001
High risk technology Advance capabilities in
Automated rendezvous and proximity operations Advanced video guidance sensor technology
Designated as critical stepping stone in developing the capability to resupply International Space Station (ISS)
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Problem Issues- Jessica Gunawan -
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Problem IssuesThe mishaps of DART :
High Risk, Low Budget Nature of ProcurementNo additional ground No incorporation of a second GPS ReceiverNo further heritage software designCheap design verification
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Problem IssuesThe mishaps of DART :
Project Management Issues :Change in risk postureStaffingAggressive schedule in manage riskDelays accepted in manage risk
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Environmental Scanning
- Jessica Gunawan -
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Environmental ScanningTechnical Issues :
Training and ExperienceLesson Learned AnalysisGuidance, Navigation and Control Development
ProcessesSystems EngineeringTechnical Surveillance / Insight
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Environmental ScanningProject Management Issues :
Expert UtilizationContractor Review ProcessesFailure Mode and Effects AnalysisSchedules EstablishmentRisk Management Training
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Alternative Course of
Actions- Ie. Ignatius Eric Cahya Saputra -
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Alternative Course of ActionsIssues Solutions Actions
Technical Issues
Training and Experience • Technical responsibility• Obtain independent assessment • Team evaluation
Lesson Learned Analysis • Peer review procedures
Guidance, Navigation, and Control Develop Processes
• Revising NASA policy that simulations and math models should be verified and validated
System Engineering • Continuous development of NASA procedural requirement documents for systems engineers
• Manager requires extensive experience and training in systems engineering
Technical Surveillance • Thorough risk assessment for high – priority flight missions
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Alternative Course of ActionsIssues Solutions Actions
Project Management Issues
Expert Utilization • The used of engineering peer review process
Contractor Review Processes
• Clearly communicate its expectations criterion
Failure Mode and Effect Analysis
• Degraded functionality be considered in future analyses and be subjected to engineering peer review
Schedules Establishment • Establish set of checks and balances to ensure technical disciplines is maintained
Risk Management Training
• Regularly review each project’s level classification to ensure consistency with potential shifting risk tolerance
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Key Success Factors
- Ie. Ignatius Eric Cahya Saputra -
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Key Success FactorsIssues Solutions Advantageous
Technical Issues
Training and Experience • More “Hands on” project and education will led the team in better decision making process and understand the perceived risk better
Lesson Learned Analysis • Learn from mistakes
Guidance, Navigation, and Control Develop Processes
• The GN & C software development, re-testing, and enhanced version will determine the success ration of this project.
System Engineering • There was inadequate system understanding when the project was launched
• Standard certification of skill and expertise is highly recommended
Technical Surveillance • Enough assessment of project technical risk and clearly defined the area of responsibility
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Key Success FactorsIssues Solutions Advantageous
Project Management Issues
Expert Utilization • Ensure that adequate resources are available and utilized.
• Technical expertise is being suppliedContractor Review Processes
• Clearly define since the beginning in terms of entry goals, exits criteria, standard design, priorities of the project
Failure Mode and Effect Analysis
• Clearly defined fault tolerance• A system is needed to detect fault
potential, fault isolation, and fault recovery
Schedules Establishment • Check and balance is implemented in a timely manner
Risk Management Training • Rigorous risk assessment , management, and classification will determine the project success
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Selection of Best
Alternatives- Ie. Ignatius Eric Cahya Saputra -
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Selection of Best AlternativesTechnical :
More experienced and project being handled
Valuable learning and mistakes along the way which needed to be studied and analyzed.
Training & experience, and lesson learned analysis
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Selection of Best AlternativesProject management
Know what is expected, criteria, and
Manage and clearly defined the staging on the project accomplishment
Contractor review processes and clearly defined schedule establishment
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Recommendations- Ie. Ignatius Eric Cahya Saputra -
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RecommendationsTechnical Issues :
Hire Experience Engineer and experts for the valuable thoughts
To study and implement the lesson learned analysis
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RecommendationsProject Management Issues :
Do 5 steps of KPMG to asses and address project’s risks1. Strategy & planning – how risk is addressed and managed2. Risk identification – identify positive and negative impact of risk
that might applied3. Analysis (Quantitative & Qualitative)
a. Qualitative – using priority level on qualifying the riskb. Quantitative – assessing the probability and potential impact of
the risk in terms of cost and value4. Response planning – develop response actions and alternative
options to reduce risk5. Monitoring and Control - set up to track potential risks, oversee
the implementation of risk plans, and evaluate the effectiveness of risk management procedures
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