Monday, August 10, 2009

Risk Assessment In The Aerospace Industry

Space systems are often characterised by high cost and complexity, long development schedules, and high risks due to the severity of the consequences associated with to the non achievement of the mission objectives.Spa ce project risks are both programmatic (with resulting consequences affecting development cost and delivery schedule) and technical (with consequences affecting performance, mission objectives, human life). The development of large space projects in the 1970s and 1980s was initially accompanied by the availability of considerable financial budgets, so that achievement of the technical objectives was given priority compared with financial targets. However, progressive budget reduction introduced by all the space agencies and the use of space sace for commercial purposes, has created a demand to develop complex projects under increasingly severe financial constraints.The budget limitation associated with design, development and procurement approaches could lead to a lower space system quality with potential detrimental effects on the schedule, performances, mission success, and safety.

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