Risk Management

GTSRiskGlobal Tooling Solutions (GTS) Program Managers use numerous tools to assess the risks associated with customers programs and projects. Risk Management is a key function performed routinely on many programs and projects of significant magnitude and do not fall in the category of normal business. We have documented processes along with operating procedures on how and when to create risk assessments. We also utilize customer driven risk mitigation plans when requested.

Once an initial risk analysis has been completed, a team is formed, and a detail assessment is performed that includes all functional departments affected. The team looks at all factors associated with the risk and develops mitigation plans that can be put in place quickly to overcome the issue if we cross a given risk threshold. We identify, monitor, and reduce probability of occurrence, along with executing response plans. Once the assessment is completed, we track, and measure that risk until it is no longer considered a threat or risk to that project or the project is successfully completed.

AIP Aerospace 2016