RISK MANAGEMENT IN THE OPERATION OF A SPACE TECHNOLOGY TEST CENTRE - A CASE STUDY ON AITC MALAYSIA

摘要

In every project, be it a construction project, a civil project or even in a typical procurement project, risks are unavoidable. Managing risks are crucial to ensure the success of a project, and it is the same for the AITC Malaysia. Risk management is defined as the identification, assessment and prioritization of risks and is extremely important and crucial in ensuring that the execution of the project will not create any negative impacts on the overall project cost, schedule and technical performance. The AITC Malaysia was designed and built by local consultants and contractors where else the installation of test equipment was done by the principals of each equipment. The involvement of various parties not only during installation and commissioning of the AITC, but also during operation of the AITC means risks is not only coming from internal parties, but also external. As the installation and commissioning about to come to an end and the operation of AITC will begin soon, it is imperative to identify risks associate with the operation of a test facility. This paper will review both internal and external risks sources that have been identified using risk charting method. Identified risks will then be assessed for their potential severity of impact and probability of occurrence using Composite Risk Index. Finally, this paper outlines the four strategies, which are risk avoidance, risk reduction, risk transfer and risk retention that will be used to treat the identified and assessed risks. The result of this paper will be presented to the top management of ANGKASA to be adopted.