Mitigating Cognitive Biases in Risk Identification: Practitioner Checklist for the Aerospace Sector

Abstract

This research contributes an operational checklist for mitigating cognitive biases in the aerospace sector risk management process. The Risk Identification and Evaluation Bias Reduction Checklist includes steps for grounding the risk identification and evaluation activities in past project experiences, through historical data, and the importance of incorporating multiple methods and perspectives to guard against optimism and a singular project instantiation focused view. The authors developed a survey to elicit subject matter expert (SME) judgment on the value of the checklist to support its use in government and industry as a risk management tool. The survey also provided insights on bias mitigation strategies and lessons learned. This checklist addresses the deficiency in the literature in providing operational steps for the practitioner for bias reduction in risk management in the aerospace sector