Developing a methodology in aviation risk management based on susceptibility
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Date
2007
Authors
Ng, Ying Chow
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Abstract
Survivability management is a concept evolves from aircraft combat survivability
concept. It can be divided into two main categories, namely susceptibility and
vulnerability management. Susceptibility is meant to help airline to reduce the chances
for the airline being hit by the crisis. It should be implemented during normal business
day and more on the strategic side. Vulnerability management is aims to increase the
chance for the airline to survive after being hit by crisis. It is focus on the operational
side of the airline which the result should be seen immediately. This is because during
air crisis, airline is usually under heavy financial pressure; hence immediate result is
required to ensure the airline’s survival.
A risk model of airline’s risk is also included in this thesis. The risk model is to
imitate the actual planning of route management. It was developed under some
assumptions base on the real life airline business. It is aims to help the airline manager
to make a better decision by using a mathematical model to analyze the risk that they
are facing. This model also measure the competitiveness of the airline compare to the
other airlines on the market.
Methodology developed was used to analyze the business turnaround plan that
Malaysia Airline announced in February 2007, The MAS Way. The strength and
weakness of this plan in terms of survivability managements were analyzed and
explained.
Description
Master
Keywords
Science , aviation risk management , Susceptibility