Risk management is a critical element of aerospace project management and other industries with complex projects. However, many current approaches focus primarily on compliance and problem avoidance. This often leads to missed opportunities for strategic decision making.

In this executive summary, based on a webinar of the same name, we explore the evolution from traditional risk management to Risk Management 2.0—an advance that connects risk categories to value metrics allowing organizations can develop a comprehensive risk strategy. This integration allows decision makers to identify risks that align with strategic objectives and prioritize actions accordingly.

Risk Management 3.0 takes risk management even further, pushing the boundaries of traditional risk management practices. By interconnecting risk, value, and strategic decisions, organizations can leverage the power of decision quality to quantify strategic risks and opportunities. This methodology enables explicit tradeoffs and empowers project teams to choose the path with the highest value for their organization. The result is greater value creation and a competitive advantage that sets you apart from the rest.

Insights from the Aerospace Industry

Drawing from the aerospace industry, where risk management plays a vital role, we invite you to explore the current approaches to risk management for complex projects. Our experts, Robert Cone and Jennifer Meyer from SDG, shed light on the limitations of conventional practices and discuss ways to make risk management more strategic.

Download the executive summary or access the original webinar to delve deeper into these approaches.