Deloitte and NASA sign official agreement to collaborate on risk management

6/28/2013

Deloitte and NASA sign official agreement to collaborate on risk management

BY JOHN BETZ, Associate Editor

HOUSTON -- Representatives from Deloitte and NASA's Johnson Space Center signed an agreement, on Thursday, committing to cooperation and research in enriching risk assesment/management strategies in the oil and gas industry.

According to Deloitte principal David Traylor, plans for the agreement have been under consideration since October and the formal signing will allow more specific conversations to take place on exactly how NASA will aid Deloitte, and by extension, the oil and gas industry as a whole. Traylor said that the organizations will work toward improving understanding in the areas of risk culture, risk modelling/simulation and emergent risk management.

Speakers at the press conference emphasized that the partnership came about as a result of the industries' similarities, particularly how both must operate in extreme conditions which make them vulnerable to catastrophic black swan events. These black swan events are unpredictable, critically important occurrences, which happen rarely and are potentially devastating.

Deloitte will effectively use NASA as a subcontractor and reimburse the organization for costs incurred by any R&D efforts. NASA official and former astronaut, Bill McArthur, expressed an interest on the part of NASA for future private industry collaboration.

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