You're managing an aerospace project with limited resources. How do you effectively prioritize risks?
Managing an aerospace project on a shoestring budget can feel like navigating a spacecraft through an asteroid belt—every decision is critical, and there's little margin for error. To effectively prioritize risks, you must first identify all potential hazards, then assess their impact and likelihood. This process is not about eliminating all risks—that's impossible—but about making informed decisions that balance safety, cost, and project timelines. The goal is to focus your limited resources on mitigating the most significant risks that could derail your project or endanger lives.