The Titanic: Risk Management Essay

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The tragedy of the Titanic is an example of how multiple risk factors led to one of the major sea disasters in history. The cumulative effect of risks is reflected in how each factor contributes to the outcome of the tragedy. In the case of Titanic, the majority of risks were connected with the intent to create luxurious conditions for first-class passengers. In order to provide a better sea view, an insufficient number of boats was placed on board (CCPS, 1, p. 118). The communication system was not working properly, which made the quick transfer of messages impossible. Other factors were connected with the weak construction of the hull. The vehicle’s high speed at the time of the collision and delayed evacuation can be explained by the captain’s attempt to save the prestige of the ship (CCPS, 1, p. 118). Finally, bad weather conditions were not taken into account, which made the tragedy unexpected.

At the same time, a comprehensive risk management strategy would have minimized the consequences of the accident. If the general precautions were taken, it would have been possible to reduce the tragic consequences of the ship’s collision against the iceberg. However, the market gain was the ship owners’ priority, while the crew was not appropriately trained (CCPS, 1, p. 118). Therefore, it is possible to say that multiple factors, such as the captain’s overconfidence, poor safety culture, and the ship owners’ inverted priorities, contributed to the tragic outcome.

Comment

Thank you for the detailed and comprehensive comment on the topic. Indeed, it is difficult to disagree that the insufficient safety measures and flaws in the ship’s construction, in addition to ignored weather conditions, had a cumulative effect and led to tragic consequences. I especially liked how you described the hull’s impact, which was one of the crucial risk factors. I would like to support your idea about people’s excitement and belief that the ship was unsinkable. Both passengers and the crew were unprepared for the accident and were not instructed properly, which resulted in a panic during evacuation. Therefore, I would conclude that passengers’ lives should always be the priority, and proper safety guidelines are essential for both long and short sea travels.

Source List

CCPS. 2019. p. 118. Web.

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IvyPanda. 2022. "The Titanic: Risk Management." February 28, 2022. https://ivypanda.com/essays/the-titanic-risk-management/.

1. IvyPanda. "The Titanic: Risk Management." February 28, 2022. https://ivypanda.com/essays/the-titanic-risk-management/.


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