When planning for disasters we often time opt for “worst case” scenario plans. Yet, time and again we are surprised when the “worst case” based plan that has been developed is superseded by an actual event that occurs. Hurricane Katrina taught this lesson. Will we be going back to school to learn the same lessons from Hurricane Harvey and Hurricane Irma? And, Hurricane Jose is coming in on the heels of Irma. Continue reading
As very young children, we had an instinctive need to be very close to our parents – feeling a great deal of anxiety, even a sense of abandonment, if they were not within our sight. As we grew older – and whether it was geographically, intellectually, or psychologically – we would become more comfortable with greater distances from what we felt were our basic truths, but almost always as stepping stones and rarely great leaps. Think of early commanders of sailing ships always keeping sight of land until traveling ever greater distances was more predictable because of maps and navigation techniques and tools. Continue reading
Risk management is suffering from too much consultant-speak – mystifying what is a standard business practice. When inducting new staff in the concepts of risk management, I use the most obvious analogy which clarifies the issues simply: that of our own mortality. Continue reading
Well, not really.
If the risk is acceptable to the stakeholders, then we can simply continue with the current plan and monitor or any new risks or changes in our understanding of the existing risks. Continue reading
President Trump promises a more business-friendly government that should stimulate economic growth. Regardless of the actual economic growth in our future, here are three methods that will help your business increase profits if you depend on successful completion of projects to make money.
These are relatively simple concepts, but they require in-depth knowledge, consistent effort and discipline to get full benefit. Continue reading
Is the current situation with the Democratic People’s Republic of Korea on your radar screen as a business continuity planning consideration? Is this situation a realistic risk that your planning should begin to address with a thorough analysis of the potential consequences of an escalation? What about the situation in Syria? Ukraine? Iran? India/Pakistan? Or are these risks too far away and remote to begin to understand? Continue reading
My name is Paul. I grew up in the northeast part of the United States, and have spent most of my life here. I went to college in New York and landed my first job right out of school as a process engineer in the Boston area.
That was 17 years ago. Continue reading
But if a promotion is proof that a person knows what they’re doing at work, why is it so hard for so many employees to make the move from individual contributor to leader successfully? Continue reading
VUCA – Volatility, Uncertain, Complexity, Ambiguity
It’s the scary. It’s the unknown. It’s the unknowable.
Today’s new normal is VUCA. That’s why we say: “We now live in VUCA time”
Today’s Typical NY Times Front Page Headlines (August 30, 2017) Continue reading
I have often written on my view that there is an over emphasis these days on Black Swans in risk management. The Brexit vote not only shot shockwaves through financial markets but has created a whole new paradigm to world economic stability both short and long term. And if Risk is defined as uncertainty then as of today, this must be one of our greatest risks. Continue reading
Those working on operational excellence are typically focused on optimisation, waste elimination, capacity utilization, process redesign and other operational challenges. This focus can lead to a lack of business perspective. How can operational excellence professionals keep the business in mind while making operational improvements?
The business model canvas is one widely used tool. By laying out the main elements of the business in a simple canvas, operational excellence professionals can make sure that their work is always connected with the needs of the business. Continue reading
- Risk is not static, it is fluid.
- Risk probes for weaknesses to exploit.
- Risk, therefore, can only be temporarily mitigated and never really eliminated.
- Over time risk mitigation degrades and loses effectiveness as risk mutates, creating new risk realities.