RISK MANAGEMENT, A MEANS OF MINIMIZING ACCIDENT IN THE AVIATION INDUSTRY

RISK MANAGEMENT, A MEANS OF MINIMIZING ACCIDENT IN THE AVIATION INDUSTRY

ABSTRACT:

Our risk exposures are influenced by our economy, lifestyles, physical well being, occupation, environment e.t.c, there variables are dynamic therefore risk managers and analyst must be dynamic in their choice of tools to mange risk exposures. In their choice of tools to manage risk exposures. in this project all the knowledge that might be useful to risk managers, however have been presented in the most important process and readable way. Consequently, this project have been organized in to five chapters.

Chapter 1 emphasizes on the introduction, background of study, statement of problems, and benefits of the study.

Chapter 2 emphasizes on the literature review risk management alternatives, risk analysis past and present accidents in the aviation industry.

Chapter 3 emphasizes on the research methodology, primary and secondary data and research design.

Chapters 4 and 5 emphasize on the data presentation and personal interview with the DMD of Slok Airlines and the summary of the major findings, conclusion and recommendations.

This research is written in the partial fulfillment of the requirement for the award of the ordinary National Diploma {OND} in Insurance.

Institute Of Management and Technology,

Enugu.

TABLE OF CONTENTS

CHAPTER ONE

Introduction                                                                            1

1.1 Background of the study                                                   1

1.2 Statement of the problems                                                          5

1.3 Objective of the study                                                       6

1.4 Benefit of the study                                                           6

1.5 Limitation                                                                          9

1.6 Reference                                                                           10

CHAPTER TWO

2.1 Review of related literature                                                         11

2.2 Types of risk and insurance risks                                               16

2.3 Risk management alternatives                                           19

2.4 Risk management process                                                           21

2.5 Risk analysis                                                                     21

2.6 Alkhile diagram on risk management process                             23

2.7 Alkhile diagram on risk analysis                                                24

2.8 Nigeria civil aviation authority                                          24

2.9 Past and present accidents in  the aviation industry in

Nigeria                                                                                    25

CHAPTER THREE

Research methodology                                                            27

3.1 Source of data                                                                             27

3.2 Primary data                                                                     27

3.3 Secondary data                                                                  27

3.4 Research design                                                                 28

CHAPTER FOUR

4.1 Data presentation and analysis                                         29

4.2     Personal interview with a staff of one airline                 29

CHAPTER FIVE

5.1 Summary of major finding                                                          33

5.2 Conclusion                                                                        34

5.3 Recommendation                                                               35

5.4 Area for further research                                                   36

Bibliography                                                                         37

CHAPTER ONE

INTRODUCTION

1. BACKGROUND  OF  THE  STUDY

Risk  has   deigned   the various  ways. This is  because   risk  is  not   only  the   centre  of insurance   but  also  inseparable  from  life . risk  in at the  centre  of  life  itself, and  as  a result many  people  in  different  walks  of  life  are  concemed with it.  The  educationist, the  economist, doctors,  psychologist ,  businessmen engineers,  politicians   etc. are all  interested  in  the concept of risk.

RISK MANAGEMENT, A MEANS OF MINIMIZING ACCIDENT IN THE AVIATION INDUSTRY