WriteTerm Paper: – APA format with a title page, 3-5 pages of content, and a References page if necessary. – Submit a 3-5 page paper expanding on one of the previous safety papers from earlier in the term (e.g. safety culture, cost-benefit analysis, safety policy, risk management, safety assurance or safety promotion). You may use your previous work as a basis for this paper. – Format the draft to APA format as it will be graded to the same standard as your final paper.
Previous Safety papers
Cost-Benefit Analysis
According to the statistics provided, the $10,000 investment is worthwhile. From the data in the table, the company contributes a smaller percentage of overall accidents in the country. Essentially, 8 percent of accidents in the country are from this company. Thus this investment is worthwhile because the investors will not incur any losses caused by accidents and money spent to address fatalities. Besides, the company has been able to increase the security of their aircraft by preventing 2.3 of the casualties. This increases the plane’s safety and ultimately attracts many customers, thus increasing profits for the aircraft company. Therefore, this would benefit the investors.
Besides, the company has a record of 500 flights per year. This indicated that the company had had a fair number of fights, and it might be popular in the country. Theoretically, recording 500 flights per year means that the company schedules a fair amount of flights per year. Therefore, this is a good investment because more revenue is generated for the company when there are more flights and eventually more profits for the investors. Most importantly, the DOT VSL of the company stands at $11,600,000. As evidenced by the US Department of Transportation, the company has had a steady VSL over the past nine years. As Kniesner & Viscusi (2019) presented, VSL shows the organization’s willingness to pay for marginal costs of improving safety. From the statistics provided in the table, the company has an increasing VSL, which means that their desire to allocate money for security increases every year, thus increasing the company’s safety. For this reason, this is a good investment.
Reference
Kniesner, T. J. & Viscusi, W.K. (2019). The Value of a Statistical Life. Retrieved 6th November from https://oxfordre.com/economics/view/10.1093/acrefore/9780190625979.001.0001/acrefore-9780190625979-e-138
Safety Assurance Paper
Classically, external safety audits are designed to observe and assess the compliance of organizations, in this case, the aviation company with recommended practices, applicable procedures, and regulations. Therefore, if I were contracted to provide an eternal safety audit for an aviation company, there are certain crucial questions that I would include in a confidential survey through a questionnaire to ask staff members about the safety measures in the aviation company. The three questions that I would use in my external audit are “Are the qualifications of every employee updated?”, “Are all SPI/KPI metrics updated, are there documents to provide evidence?”, and “Did the company perform routine and required safety inspection, and how often does the company do this?”.
These three questions are the most important while performing an external audit on an aviation company because they would help an auditor determine the safety of the company. For instance, assessing whether the qualifications of employees, particularly, aircraft engineers and pilots is essential because it would help determine how safe using the aircraft of this particular company is. Ideally, it would be detrimental to let a pilot with expired qualifications man an aircraft let alone allow aircraft engineers whose qualifications have expired to repair or run diagnostics of an airplane before allowing it to be used for transportation.
On the other hand, checking whether the SPI or KPI metrics are updated is crucial because are applied in monitoring or measuring the safety performance of a company and how to manage it. As Pierobon (2016) presented, Safety Performance Indicators are critical in the aviation industry because they enable a company to assess its past, current, and future safety performance. Lastly, asking how often the company performs its safety inspection would be essential for this external audit because it would help determine whether the company has established effective safety measures in the company.
Reference
Pierobon, M. (2016). Unleashing SPIs. Flight Safety Foundation. Retrieved on 27thOctober 2021 from https://flightsafety.org/asw-article/unleashing-spis/
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APA format with a title page, 3-5 pages of text, and a References page, if necessary, should be used when writing a term paper. – A 3-5-page paper expanding on one of the preceding safety studies should be submitted by the end of the semester (e.g. safety culture, cost-benefit analysis, safety policy, risk management, safety assurance or safety promotion). This paper can be based on any previous work you’ve done. – The final paper will be judged according to APA format, therefore structure the draft accordingly.
Earlier reports on safety
Cost-Effectiveness Analyse
In light of the figures presented, the $10,000 investment is justified. According to the information in the table, the company is responsible for a lesser share of all accidents in the country. Almost 8% of all accidents in the country are caused by this business. As a result, this investment is advantageous because the investors will not suffer any losses due to accidents and the costs associated with responding to fatalities. In addition, the corporation has been able to reduce the number of fatalities on their planes by 2.3 percent. Customers will flock to the aircraft because of this, boosting earnings for the corporation. As a result, investors would reap the benefits.
Aside from that fact, the company has an annual record of more than 500 flights. This showed that the corporation has been involved in a number of disputes and that it may be well-liked in its homeland. With an average of 500 flights every year, it’s safe to assume that the corporation has a substantial amount of flights planned. Because more flights bring in more income for the airline, and thus greater returns for investors, this is a wise investment. The company’s DOT VSL, which measures $11,600,000, is critical. VSL (Vehicle Safety Liability) is a measure of a company’s ability to safely transport vehicles. VSL demonstrates the willingness of the business to pay the marginal costs of increasing safety, according to Kniesner & Viscusi (2019). It is clear from the data supplied that management is increasingly concerned about the security of the organization, as seen by the rising VSL shown in the table. It’s an excellent investment because of this.
Reference
Toby Kniesner and William K. Viscusi (2019). A Statistical Life’s Worth. From https://oxfordre.com/economics/view/10.1093/acrefore/9780190625979.001.0001/acrefore-9780190625979-e-138.html on November 6, 2018.
Assurance of Safety Paper
When it comes to external safety audits, the aircraft company is being inspected to see if it is adhering to suggested practices and standards. If I were hired to conduct an audit of a company’s aviation safety measures, I would use a private questionnaire to gather information from employees regarding the company’s safety procedures. All employees’ qualifications are updated; all SPI/KPI measurements are updated; and safety inspections are performed on a regular basis. How often does the company do these inspections? Moreover, how often does the organization conduct routine and mandatory safety inspections?
In an external audit of an aviation company, these questions are critical since they help the auditor determine the organization’s safety. The safety of this company’s aircraft can be determined in part by looking into the qualifications of its workers, particularly those who work as aircraft engineers and pilots. Pilots with expired credentials should never be allowed to fly planes, and aircraft engineers who have expired qualifications should never be allowed to repair or perform diagnostics on planes before they are allowed to be used for transportation.
SPI and KPI metrics are important since they are used to monitor or measure a company’s safety performance and how it is managed. It is vital for aviation companies to employ Safety Performance Indicators (SPIs) to evaluate their past, current, and future safety performance, according to Pierobon (2016). Lastly, in order to identify whether the company has implemented appropriate safety measures, the frequency with which the organization conducts safety inspections will be an important part of this external audit.
Reference
Pierobon, M. (2016). Using SPIs to their full potential. On October 27th, 2021, this article was retrieved from https://flightsafety.org/asw-article/unleashing-spis.html.
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