Operational risk managementOperational risk management (ORM) is defined as a continual recurring process that includes risk assessment, risk decision making, and the implementation of risk controls, resulting in the acceptance, mitigation, or avoidance of risk. ORM is the oversight of operational risk, including the risk of loss resulting from inadequate or failed internal processes and systems; human factors; or external events. Unlike other type of risks (market risk, credit risk, etc.) operational risk had rarely been considered strategically significant by senior management.
Moon landingA Moon landing or lunar landing is the arrival of a spacecraft on the surface of the Moon. This includes both crewed and robotic missions. The first human-made object to touch the Moon was the Soviet Union's Luna 2, on 13 September 1959. The United States' Apollo 11 was the first crewed mission to land on the Moon, on 20 July 1969. There were six crewed U.S. landings between 1969 and 1972, and numerous uncrewed landings, with no soft landings happening between 22 August 1976 and 14 December 2013.
Knowledge economyThe knowledge economy, or knowledge-based economy, is an economic system in which the production of goods and services is based principally on knowledge-intensive activities that contribute to advancement in technical and scientific innovation. The key element of value is the greater dependence on human capital and intellectual property as the source of innovative ideas, information and practices. Organisations are required to capitalise on this "knowledge" in their production to stimulate and deepen the business development process.
Falcon 9 first-stage landing testsThe Falcon 9 first-stage landing tests were a series of controlled-descent flight tests conducted by SpaceX between 2013 and 2016. Since 2017, the first stage of Falcon 9 missions has been routinely landed if the rocket performance allowed it, and if SpaceX chose to recover the stage. The program's objective was to reliably execute controlled re-entry, descent and landing (EDL) of the Falcon 9 first stage into Earth's atmosphere after the stage completes the boost phase of an orbital spaceflight.
Project risk managementWithin project management, risk management refers to activities for minimizing project risks, and thereby ensuring that a project is completed within time and budget, as well as fulfilling its goals. Risk management activities are applied to project management. Project risk is defined by the Project Management Institute (PMI) as, "an uncertain event or condition that, if it occurs, has a positive or negative effect on a project’s objectives.
Carried interestCarried interest, or carry, in finance, is a share of the profits of an investment paid to the investment manager specifically in alternative investments (private equity and hedge funds). It is a performance fee, rewarding the manager for enhancing performance. Since these fees are generally not taxed as normal income, some believe that the structure unfairly takes advantage of favorable tax treatment, e.g. in the United States. The origin of carried interest can be traced to the 16th century when European ships were crossing to Asia and the Americas.
PreschoolA preschool, also known as nursery school, pre-primary school, play school or creche, is an educational establishment or learning space offering early childhood education to children before they begin compulsory education at primary school. It may be publicly or privately operated, and may be subsidized from public funds. Terminology varies by country. In some European countries the term "kindergarten" refers to formal education of children classified as ISCED level 0 – with one or several years of such education being compulsory – before children start primary school at ISCED level 1.
Vision for Space ExplorationThe Vision for Space Exploration (VSE) was a plan for space exploration announced on January 14, 2004 by President George W. Bush. It was conceived as a response to the Space Shuttle Columbia disaster, the state of human spaceflight at NASA, and as a way to regain public enthusiasm for space exploration. The policy outlined by the "Vision for Space Exploration" was replaced first by President Barack Obama's space policy in April 2010, then by President Donald Trump's "National Space Strategy" space policy in March 2018, and finally by President Joe Biden's preliminary space policy proposals in spring 2021.
Secondary educationSecondary education or post-primary education covers two phases on the International Standard Classification of Education scale. Level 2 or lower secondary education (less commonly junior secondary education) is considered the second and final phase of basic education, and level 3 upper secondary education or senior secondary education is the stage before tertiary education. Every country aims to provide basic education, but the systems and terminology remain unique to them.
Private spaceflightPrivate spaceflight refers to spaceflight developments that are not conducted by a government agency, such as NASA or ESA. During the early decades of the Space Age, the government space agencies of the Soviet Union and United States pioneered space technology in collaboration with affiliated design bureaus in the USSR and private companies in the US. They entirely funded both the development of new spaceflight technologies and the operational costs of spaceflight.
