Reflections from RMIA Risk Award Winner, Dr Maria A. Pozza

Ahead of the 3rd webinar in the RMIA Risk Award Winner series, we’ll be sharing the reflections of Dr Maria A. Pozza, RMIA’s Risk Leader of the Year - APAC Region.

Congratulations on winning the APAC Risk Leader of the Year Award! Can you tell us about the project or initiative that earned you this recognition?

Thank you! I’m still shocked that I received this award and my thanks to the committee. The award recognized my involvement in developmental projects that focused on creating robust risk-based analysis frameworks, including advanced calculation methodologies that support crisis management and response strategies, and in addition, the work published by Springer, Risk Management in Outer Space Activities: An Australian and New Zealand Perspective, which is part of works published within my Space Law and Policy Series.

What inspired you to pursue this particular risk management?

The space sector is rapidly evolving in Australia and New Zealand and requires fresh and innovative thinking. For example, the book adopts a holistic approach to risk management, analysing the unique needs of these 2 nations as they increasingly engage in space activities. The book aims to provide practical thinking that aligns with the dynamic nature of this emerging field.

What were the biggest challenges you faced while working on this project, and how did you overcome them?

In any project, one of the biggest challenges is maintaining project scope. It's easy to fall into the trap of scope creep, especially in such a multidisciplinary field. Staying focused on the core objectives. Like any project, clear goals and disciplined project management helped keep everything on track.

What role did innovation play in your approach to managing risk?

My area of specialisation is space law and innovative thinking is a key element when thinking about legal risk. Space activities require not only traditional risk management skills but also a willingness to view challenges from multiple perspectives. The multidisciplinary nature of space law for example demands an understanding of international and domestic laws, global and domestic politics, as well as the diverse range of regulatory frameworks. This broad, receptive approach is critical to developing effective risk management strategies.

In your experience, are there any surprising outcomes or lessons learned from projects that you can share?

With any project that I have been involved in, one lesson that repeats itself again and again is that people play a pivotal role in any project’s success. Ensuring that your team understand why the project is important and why their contribution is important, is the first fundamental step of any project. Clear communication, careful planning, strategic holistic thinking, timelines, and ensuring that everyone knows how you are going to achieve results, is also another important element for successful projects.

How has this award impacted your approach to risk management or your career overall?

I encourage everyone to apply for this award. Being recognised for the sweat, blood and tears that you put into your area of passion (for me it’s space law) is rewarding. But more importantly, these awards inspire other people that may also be in niche areas: sometimes your work just doesn’t fit the square-peg. In my mind you then have 2 options: find a peg that fits or get your tools out and make the square-peg bigger.

What advice would you give to other professionals or organizations looking to improve their risk management practices?

Successful projects are built on strong teams. My advice is to prioritize clear communication, meticulous planning, and strategic thinking based on the available data. Your team are there to assist you with understanding the key risks and evaluating them. If you do not have a team, then sounding boarding with other stakeholders can be incredibly valuable. Equally, when you are a member of community like RMIA, there’s a wealth of supporting documentation and information on their website. Finally, being open to looking at risk from a multi-disciplinary approach is incredibly helpful. Risk does not exist in a vacuum.

Looking ahead, are there any emerging trends or challenges in risk management that you’re particularly excited or concerned about?

In the space sector, growing concerns around space debris and sustainability are becoming critical risk management issues. Accessing space through safe and sustainable access pathways will present further significant challenges for the international community. Proactive strategies will be needed to mitigate the risks that may arise within these 2 areas.

How do you see the field of risk management evolving in the next few years, and what role do you hope to play in that evolution?

Risk management will play an increasingly important role as more entities turn their attention to space. With the potential rise in launches and space assets, risk management strategies must be comprehensive, multidisciplinary, and adaptable to evolving new areas of risk contemplation. My aim will be to continue to contribute to developing these strategies and advocate for best practices.

How do you balance innovation with the need for risk control, especially in high-stakes environments?

Balancing innovation with risk control is, in my mind, about creating a disciplined yet flexible framework. In high-stakes environments like space, where both opportunities and risks are vast, balance requires embedding risk management principles early in the innovation process. For example, setting clear risk thresholds and conducting scenario analyses.