Awareness of risk can lead to unforeseen risk behaviors based on knowledge that is sufficiently convincing to lead to false positives.
“The more you know, the more you know you don’t know.”
― attributed to Aristotle
Knowledge is an opening door to understanding risk; the risk of knowledge is knowing how much you do not know. Unfortunately we have a very limited understanding of where risk is or where risk is going to materialize. Here is a small excerpt from “I, Pencil” by Leonard E. Read. The reason for this example is that we all use or have used pencils in our lifetimes. The pencil is a simple implement, right? Continue reading
This two-part article focuses on risk management of facilities and equipment. It describes how a risk-based approach to facilities and equipment management fits into an integrated, effective quality systems structure. The principles discussed are equally applicable to all quality systems. Facilities and equipment represent a broad range of risk to product quality and are one of the key quality systems commonly identified in the pharmaceutical manufacturing industry. Continue reading
What Is Risk Management?
Risk Management is the process of identifying, analyzing and responding to risk factors throughout the life of a project and in the best interests of its objectives. Proper risk management implies control of possible future events and is proactive rather than reactive. Continue reading
At the time of this writing seasonal flu is spreading through much of the world. The current flu vaccine is approximately 30% effective. Ever since the H1N1 outbreak in 2007 that was declared a pandemic by a reactive World Health Organization (WHO); WHO and Centers for Disease Control (CDC) have been reluctant to move too quickly in declaring an outbreak, whether influenza, Ebola, Norovirus, Adenovirus or any of the myriad of potential pandemic causing viruses a pandemic. Continue reading
When people discuss Supply Chain Management, there doesn’t seem to be any common understanding of what it is all about. I get it! To some, it is software and technology. To others, it is just purchasing and logistics. And still others believe that it is ‘big data’ and analytics. No wonder that eyes glaze-over when the subject is mentioned. Continue reading
Jeff’s venture into engineering management isn’t quite what he expected. He manages a group of seven engineers at a semiconductor company, but he continues to work as a hands-on engineer. He’s highly regarded for his technical expertise, which is why he was offered the management position five years ago. Continue reading
The increasing complexity and dynamism that the markets have today, but especially those where organizations operate using Information and Communication Technologies as the core of the business, as well as the resulting uncertainty thereof, suggests that the Strategic Development in those Organizations should be based on the usage of traditional processes as well as other emergent strategies that arise from internal processes and daily activities. Continue reading
Nothing is more flattering than a promotion. When the executives choose you to be a leader, it sends a powerful message about your skills and knowledge.
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
Something is seriously wrong…
The healthcare industry as a whole in the United States is corrupt, dysfunctional, ineffective, and inefficient. And regardless of “party affiliation”, everyone appears to share this opinion. The only real disagreement (and a heated disagreement at that) is what should be done about it, and whether what has been done to date has a chance of working as promised over time. 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
In the risk-neutral world, all business and government continuity planning would be risk-balanced. However, in reality, risks, threats, hazards and their consequences change depending on an organizations exposure, sensitivities to impact and other factors. For instance, a natural disaster, can occur without much warning and can have direct and indirect impact on an organization. Complicating the Business Continuity Planners life is a simple fact, events have unforeseen consequences that can rarely be planned for. Continue reading
Excuse me, but this is a bit like 3 high street bankers sitting around discussing the plight of the homeless. Very few of these self-appointed experts have ever started a business let alone been directly responsible for innovation in the marketplace.
After being in the computer software business for over 3 decades I have been directly involved in the most innovative period mankind has seen. From the introduction of “mini” computers to the “cloud” to IoT (the Internet of Things), technical change has been a staple of the industry. But from text files to relational databases to big data, the evolution of information as a tool has been the backbone of innovation in the aptly named “information revolution”. Continue reading