article thumbnail

Main Risks of Aerospace Engineering Projects: How to Implement Wise Risk Management into Your Organization

Epicflow

This mostly refers to the manufacturing process, which is also a part of aerospace engineering. Building an air-/spacecraft costs millions of dollars, so the end product must meet the customers’ requirements to the full. Effective Risks Management in Aerospace Engineering Companies . Step 3: Analyzing risks. References .

article thumbnail

Creating a Risk Register: All You Need to Know

Epicflow

At the same time, it’s not something that can be done once and left aside: it should be updated every time a risk-bearing event appears on the horizon. A risk log should be shared with all project stakeholders and team members and reviewed at every team meeting not to miss any important updates. . How to Create a Risk Register?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Managing Risks and Controlling Projects: How Data-Driven Project Management Come in Useful for Multi-Project Environments

Epicflow

Risk Analysis: Essential Components A risk is an event or circumstance with either a positive or negative effect on a project. Risk Analysis: Essential Components A risk is an event or circumstance with either a positive or negative effect on a project. So, what do you need for an efficient risk analysis?

article thumbnail

Saving ?osts in a Long-Term Perspective: How a Resource Management Solution Will Help You Gain More in the Long Run

Epicflow

Poor risk management In times of instability and uncertainty, projects are vulnerable to negative risks more than ever, which highlights the need for thorough risk analysis and preparation to respond to them beforehand. References Kenton, Will. Cost Cutting: Importance of Strategy, Risks Posed.

article thumbnail

Make “Fairness by Design” Part of Machine Learning

Harvard Business

More recently, a study compared the commonly used crime risk analysis tool COMPAS against recidivism predictions from 400 untrained workers recruited via Amazon Mechanical Turk. To a data scientist, “bias” has a particular technical meaning — it refers to the level of segmentation in a classification model.

Data 35