Risk Management - A Cautionary Tale

Mr. Ghost writes "By now many people have heard about the fiasco and financial blunder Comair had over the 2004 Christmas holiday. An article on CIO provides a timeline of the decisions that led up to the system failure costing the division of Delta Airlines $20 million. The article points out the need for proper risk management and what can occur when a risk analysis is not performed or ignored. It goes on to mention that although this was a very public failure, this type of system failure can occur in other companies." From the article: "The prospect of replacing the ever-maturing crew management system was floated again the following year, with plans laid out to select a vendor in 2000. But that didn't happen. Over the next several years, Comair's corporate leadership was distracted by a sequence of tumultuous events..."