Risk Management - Titanic

Risk Management - Titanic

1. Introduction

The main focus of this report will analyse the failure to manage the risks, which led to the Titanic disaster that occurred in April 1912. The areas, which will be looked into, include what caused the accident, the risks that were underestimated and also any apparent risk management strategy. The report will also detail the reasons for mishandling the risks and their implications and also highlight any lessons, which were learnt from the occurrence of this disaster.

The RMS Titanic was the biggest ship built to that date. It was to be a maritime legend at the cutting edge of ship design. The Titanic was thought to be unsinkable because it had sixteen watertight compartments that rose well above the water level.
AT the time ships were expected to stay afloat for a number of hours, even days and in the busy shipping lanes of the Atlantic would have plenty opportunity for rescue. With this in mind it was designed to stay afloat with tw...