Does managerialism work for safety-critical / high-reliability projects?

The (Murphy's law) principle essentially amounts to "idiot-proof things even if you cannot fathom the idiot that would need it".

The managerialist will only idiot-proof things for the non-managerialists. It won’t occur to them that things need to be idiot-proofed for the managerialists as well.


So typically managerialists are “helpfully” arranging new buildings, new computers , new work locations etc, not noticing they are causing havoc.

Typical managerialist will offer to keep an audit trail of all changes to operational software. Will later find that the method he set up is unreliable, and realise he denied resources necessary for others to keep their own copies.

Answer:
Whether the management screws it up like you mention or not, the final product still has to be reviewed and analyzed by many different engineers, all looking at different aspects of the design and cross checking one another. Then it's reviewed again, and again...

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