Situations and Scenarios in Yacht Management and Marine Insurance - Research Paper Example

The natural actors include such factors as the wind, tide, current, which are routine in nature and typhoons, hailstorms, tsunamis and the like are exceptional natural situations that require a different approach. Similarly, artificial actors include the routine rules and regulations pertaining to safety, security, hygiene and other aspects. There are artificial situations such as fire on board, the act of piracy and so on which necessitates a different set of preparedness. Regardless of the types of actors and factors, a yacht has to deal with, management, organisation and operations are intricately associated with each other and form the key performance variables for successful management of a yacht.

As expected the cumulative objectives of a yacht’s activities is to be at all times, be superbly managed, with a flawless organisational structure that is able to undertake all operational evolutions seamlessly.To achieve this objective, a periodic review of the mechanism to ensure the operational standards of the yacht in terms of the management, organisation structure and routine and emergency operations are undertaken periodically so that these are maintained and fit at all times. The review is discussed in the succeeding paragraphs.

Yacht management comprises a host of activities including provision of a supply of support and advice to owners and their Captains in order to ensure that the yacht is being maintained, operated and administered to the highest possible standards. Thus, enabling the owners to free up their time on boards and have a safe and secure experience on board (Fraser Yachts, 2010). As a yacht manager, the yacht management tasks include overseeing all of the administrative, technical, financial, safety and legal aspects of the yacht.