The Manpads Case Study & Man-Portable Air Defense Systems(MANPADS) With Value of Life (VOL) - Accounting Assignment Help

Assignment Task

1. DEFINITION

This project will be conducted in teams. Your team will analyze the Manpads case study explained below. You will continue with the team you worked with within Project I.

MANPADS

Man-portable air-defense systems (MANPADS) – such as shoulder-launched missiles- have been used in aircraft attacks. This study focuses on evaluating the use of countermeasures against MANPADS on commercial aircraft. Even though relatively little is known about the effects of a possible attack, there is some available information, enough to make an effort to address this problem. In deciding whether or not to use countermeasures there are several issues to consider. First, the occurrence of an attack, say for the next 10 years, is not certain. But, based on past data, the possibility of one attempt in ten years is plausible. Second, if there is an attempt, whether it will be interdicted or not is uncertain. If there is an attempt that is not interdicted, it is possible that the missile hits the aircraft. In such a situation, a crash or safe landing must be considered. The estimated average number of fatalities in case of a crash is 200. The value of life (VOL) is measured in terms of dollars, and it is set to $5 million. In case of a crash, average economic loss is estimated to be $100 billion, and average cost of the aircraft is $200 million.

We also need to consider the possibility of a false alarm, which is expected to cost $10 million if occurred. It is estimated that there will be 10 false alarms per year.

The cost of countermeasures considered is $10 billion. But if employed, they could be more or less effective in a variety of ways. Table 1 shows the probabilities of events given no countermeasures, and Table 2 shows the reductions in these probabilities when countermeasures are used.

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