Dr. William Cox, CEO, Management & Excellence SA
How Much is Pilot Training Impacting an Airline’s Financial Risk & Value?
Dr. William Cox is CEO of Management & Excellence SA (M&E) in Madrid and M&E Global Inc., in New York. M&E was established in 2001 with the support of the IE Business School, Madrid, and is specialized in calculating the Return on Investment (ROI) of human capital processes, such as aviation training, customer services in aviation and supply chain. Its SMART ROI™ service has been successfully applied in over 110 client projects in most sectors, including Pratt & Whitney, Hartford.
Cox is author of six books and several hundred articles. He received his Ph.D. from the London School of Economics, a graduate degree in finance from the University of Oxford, two degree from Boston University and a Certificate in Finance from Harvard Kennedy School. He was a Visiting scholar at Georgetown and Freiburg Universities. He is a member of Who’s Who Germany, Austria and Switzerland.
By How Much is Pilot Training Impacting an Airline’s Total Risk Level?
Most approaches to assessing aviation risk are qualitative, involving a lot of descriptive text. They do not use existing data to calculate something of “safety index”. And they certainly fail to quantify the impact of pilot training on an airline’s safety level.
This presentation takes a look at the most common approaches of assessing the impacts of pilot training on an airline’s risk profile. But we go beyond this and suggest a method which uses financial risk models to calculate and monitor the impact of individual pilots’ training on the total risk profile of an airline.
The advantages of knowing the exact financial impacts on your overall risk profile at any point include:
• Pilot training becomes a measurable science and its contribution to safety definable
• Take an exact proactive approach to reducing risk, instead of only reacting to events after they’ve happened
• Helping settle the debate of experiential vs. preventive (competency vs. evidence-based) teaching approaches
• Raise the effectiveness of virtual pilot training
• Monitor how pilot training is impacting inherent safety levels over time.