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Titanic – Risk

Management
Group 2

Project Objectives:
 Luxurious First Class Liner
 Largest ship ever built
 Integrated Mail system
 Break-even within 2 years
 £1.5 million Budget

Deliverables & Milestone  6 months for design  3 years for Construction .

Matrix of Priority Time Constrain Enhance Accept Performance Cost .

30.5 feet.  Propellers : 3. 16.   Passengers : capacity of more than 3500 people  Gross tonnage : 46.  Watertight compartments : 16.000 hp.000 hp.Technical Requirements:  Decks : 9 in total.  Shipyard: Brand New Shipyard in Belfast . Engines : 2x 4 cylindered.  Width : 92. all the way to F-deck.  Boilers : 29  Top speed : 23 knots.328 tons. 1 Parsons turbine.  Height : 175 feet from keel to top of funnels.

Limits & Exclusion:  Limited labour  Limited Riveters  Limited Resources  Limited time  due to 3 ships built at the same time .

RISK BREAK-DOWN STRUCTURE TITANIC PROJECT Design Constructio n Organisational Project Management Voyage Materials Funding Communicatio n Climate Labour Ressources Leadership Communicati on Time Marketing Planning Emergency procedure Leadership Budgeting & Estimations Lifeboats Cost .

CONSTRUCTION  Materials – Low Quality  Labour – Insufficient & Unqualified  Time – Delay  Cost – Over Budget .

Icebergs  Communication – Miscommunication  Emergency Procedure – No Contingency Plan  Lifeboat – Not Enough .VOYAGE  Climate – Bad Weather.

RISK ASSESSMENT FORM .

RISK RESPONSE DEVELOPMENT .

LIKEHOO D RISK SEVERITY MATRIX IMPACT .

Yet. Kelley. high impact situations. this does not necessarily mean that the event is purely unforeseeable or unknown’ (Geraldi. and Kutsch. .Risk Response Control  ‘Literature often refers to unexpected events as low probability.2010).  Project Managers and team members need to be vigilant in monitoring potential risks and identify new land mines that could derail a project (Larson and Gray. 2011).

Risk Response Control Land Mines of the Titanic’s Maiden Voyage  Poor Design and Construction  Unique weather conditions  Evacuation Procedures & Lifeboats  Communication Ineffectiveness .

Evacuation Procedures & Lifeboats  14 Standard Wooden lifeboats on the Titanic   Two emergency cutters   40 People per lifeboat 40 People per cutter Four Englehardt Collapsable Lifeboats  47 Person per lifeboat  Titanic had a capacity capability of 3.547  Total Lifeboat Capacity 2.095 .

Communication Ineffectiveness Senior Wireless Operator John Jack Phillips Junior Wireless Operator Harold Bride .

they elect to shelve some under the rationale.Communication Timeline  14th April 1912  5am Radio Fixed and contact from Athina  9:30pm Warning from Masba  10:55pm Warning from Californian  Despite being knowledgeable about the risks in a project. . ‘it will not happen to me’.

Conclusion  Was the Project a Failure?  A ship was built  On time  Underestimate the risks: Safety  Control  Communication  .

McGraw Hill.  Johnson. P. J. BBC History [Online].W.  Larson.K. Multi-Media Publications. Available at: www. [Online]. 2011). 1st Edition. (2005) Titanic Lessons for IT projects.A.co.html (last accessed 30th October.C.lessons-from-history. 5th International Edition. International Journal of Project Management. F. (2011) Avoiding Project Disasters: Titanic Lessons for Modern Projects. Ontario. . G.L.  Holland. L.bbc.shtml#two (last accessed 2nd November. Lakefield. (1998) The Radio Legacy of the RMS Titanic.L and Kutsch.547-558.com (last accessed 1 st November. D. (2010) The Titanic sunk. 2011). (2011) Project Management The Managerial Process. Available at: http://www. E.com/djohnson/titanic. New York  Brown. Presented at APM London and South East branches. [PowerPoint Presentation Online]. and Gray. Issue 28. E. Available at: http://www. M.References  Geraldi. M.K. so what? Project manager response to unexpected events.Kelley.avsia. 2011)  Holland. (2011) Titanic: Sinking the Myths. pp.uk/history/british/britain_wwone/titanic_01.

2011). J. M. Available at: www.  Kinghorn.  Holland. The Atlantic Transport Line 1881-1934 [Online].References  Kinghorn.shtml (last accessed 2nd November. (2007) The IMM. S. [PowerPoint Presentation Online].sheepguardingllama.lessons-from-history. (2007) The IMM. Available at: Miller. .com (last accessed 1st November.titanic- titanic.htm (last accessed 29th October. A. Available at: http://www.atlantictansportline. 2011). [online] Available at http://www. (2011) Avoiding Project Disasters: Titanic Lessons for Modern Projects.K.com/2008/02/project-management-of-therms-titanic-and-the-olympic-ships/ (Accessed 2 November 2011). Presented at APM London and South East branches. [Online].  Titanic Lifeboats.com/lifeboats. (2011) Project Management Of The RMS Titanic And The Olympic Ships. J. Available at: www. The Atlantic Transport Line 1881-1934 [Online].us/content/immc. 2011).