Yaurdie Airways operational SMS implementation plan

Yaurdie Airways Operational Safety Management Plan
Author Name(s), First M. Last, Omit Titles and Degrees
Institutional Affiliation(s)
Yaurdie Airways Operational Safety Management Plan
Introduction
Safety management system refers to the systematic approach to the management of risk by incorporating all the organizational structures, policies, procedures, and accountabilities. In designing system management plans, all the aspects of operations, including equipment safety, the safety of the technology in use, and the safety of frontline employees during operations, are included. SMS is critical in turning the management of safety in socio-technical systems into a business function (Maurino, 2017). The purpose of an SMS, therefore, is to avail of a formal management approach to control safety risks during operations (Skybrary, 2020). Application of SMS is akin to employing a quality management approach in controlling safety risks. Safety Management Systems provides a basis on which acceptable levels of risks are determined and the mitigation measures in place in the event of a risk occurring.
Yaurdie Airways Safety Policy
A safety policy is an organization statement on the fundamental approach followed in achieving tolerable or acceptable levels of safety (Skybrary, 2017). Safety policy is essential for two core reasons. First, it defines the organization's values on safety in the overall organizational business operations indicating that safety is a priority. It, therefore, confirms the organization's commitment to providing safety to all stakeholders. Yaurdie Airways is committed to evaluating, designing, implementing, and bolstering management systems, processes, and strategies to provide the highest level of safety performance and meet local, regional, and international safety standards.
Under this policy, Yaurdie Airways is committed to several key aspects. First, the organization develops and embeds safety culture in all levels of aviation activities with the acknowledgment that safety is paramount at all times. The organization is committed to minimizing risks in aircraft operations to the lowest possible, practicable level, and ensuring that outsourced services and systems meet the required safety standards. Lastly, the organization is committed to complying with and, where possible, exceeding regulatory and legislative standards and requirements associated with all aspects of its business operations.
Major Hazards and Safety Risk Factors at Yaurdie Airways
Currently, Yaurdie Airways is facing six core risk factors. These include pilot shortage, oil price volatility, decreasing insurance capacity, system failure, and aging technology infrastructure, economic recession, government shutdown, and reputation damage. The growing demand for air travel has skyrocketed to the extent that in the next 20 years, 800,000 new pilots will be needed to fill new vacancies and replace those reaching mandatory retirement age of 65 years (Meredith, 2019). At Yaurdie Airways, expenditures on fuel account for a significant proportion of the organization's gross expenditures. Therefore, the company is sensitive to changes in oil prices. Changes in oil prices have an impact on the company's profits, stock price, and over...