Money Talks
One could define risk management as the identification, analysis and elimination of those hazards, as well as the residual risks that threaten the viability of an enterprise. The discussion if it is possible or practical to eliminate hazards are ongoing with opposing views. Airports and airlines accept the inherent risks in aviation every time there is a movement on the field or in aeronavigation. On the other hand, both regulators and professional auditors, expects from the corrective action plans that an operator make changes to ensure that an occurrence will never happen again. While it is unreasonable to expect the complete elimination of risk in aviation, it is also unreasonable to expect that that all risks are acceptable. It is a fine line to balance between what risks to eliminate, and what risk to accept. Risk acceptance, or elimination is a 3D identification process measured in time (speed), space (location), and compass (direction). When 3D thinking is introduced, a future s...