Nasa risk management Essay Example | Topics and Well Written Essays - 750 words

Nasa risk management - Essay Example Understanding the stakeholder’s expectations is primary as they can also opt to implement a constraint that will limit the performance of the organizations. Conducting a performance measurement is also imperative due to the expansion of research of realizing the risks involved, as well as the opportunities involved. The main weaknesses in the RIDM flowchart case study include the imposition of constraints that is not done by the organization directly, but rather by the stakeholders. The stakeholders can induce a very limited space for the organization to spur in its efforts to develop a higher level of success and great performance. Another weakness is in the assessment conducted through the second step whereby preliminary evaluations are conducted. This is because the results accrued are rather solidly understood as grounds for approval or disapproval. When the evaluation is conducted, the conditions may be more favorable then, and provide positive results that may not be achieved should the environmental conditions alter. The use of RIDM (risk- informed decision making) to determine the performance measures can be presented in a qualitative and quantitative format. The quantitative format presents this information in numerical characters and provides a mathematical volume analysis of the performance measures. It is highly differentiated from the qualitative format that rather presents information that does not have numerical values and is rather defined in ranking position terms. Some of the qualitative measures in RIDM include; technology readiness level, and it presents the information required without using any numerical values and constructs a qualitative scale the defines the ranking position of the performance measures. The main challenges that are accrued from utilizing the qualitative measures while defining the