The Effects of Operational Risk Management at Airports: The Introduction of New Baggage Logistics at Heathrow Airport (2014)
Operational Risk Management at Airports Dissertation – The importance that is held by risk management within an airline just cannot be denied. The fact of the matter is that airlines are regularly exposed to countless different risks on a regular basis. Every single one of these risks has the potential to impact customers, operations, security, and corporate value. These risks, along with many others have enhanced the overall importance of airline risk management.
It has managed to become one of the most focal points within famous airlines and airports across the world. When taken in general terms, risk management is basically said to be a means of adopting an easily systematic as well as a consistent approach to be focused on the management of risks, all of which are being faced by a particular organization or business.
On the other hand, when it comes to operational risks, these are any and all risks, which are associated with elements including human error, system failure, as well as inadequate procedures and controls particularly in cases of the process of business transactions and loss of reputation. Moreover, it can further be broken down into a number of sub-sections that are inclusive of technology risk, operations risk, malicious risk, reporting risk etc.
Also, operational risk management is associated with any and all risks that are incurred by the internal activities of a firm, along with a focus over their ample management. A major difference between operational risk management and other forms of risks is that it is not focused upon the generation of profits. It is more so based on the fact that organizations need to acknowledge that their employees are imperfect and can make mistakes that might leverage risks for the organization.
The aim of this study is to identify the risks that are faced by an airport or airline each time that a new baggage system is introduced, to identify the effective operational processes of a new baggage system, and to analyze how the risk management theory can be applied in baggage handling automation process in airports. The hypothesis of this study is based upon the fact that risk management has a crucial role to play in operations.
Unfortunately, if the people are not trained properly for the functions given, several problems can occur. There are many different operational risks in that need to be identified and dealt with each time that a new initiative is taken in every industry, including aviation.
- 10,000 words – 36 pages in length
- Good use of literature
- Good analysis of subject area
- Well written throughout
- Ideal for business studies students
Background of the Study
Statement of the Problem
Objectives of the Study
Hypotheses of the Study
Significance of the Study
Scope and Limitations
Definition of Terms
2: Literature Review
The Different Types of Risks
Common Risks That Organizations Face
Information on Operational Risk
How Can These Risks Be Controlled?
Strategies That Can Be Used To Manage Risks
The Necessary Actions
The Activities of Operations Management
The Broad Responsibilities of Operations Management
The Scope of Project Risk Management
The Project Life Cycle
3: Research Framework and Methodology
Type of Research
Research Instruments and data collection
Elimination of Bias
4: Data Presentation
Findings Acquired Through the Questionnaire
Findings from the Interviews
Analyses of Findings
5: Conclusions and Recommendations
Heathrow Airport Terminal 5