#205 – BASICS OF PLANNED AND DEFERRED MAINTENANCE – FRED SCHENKELBERG

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ABC-Fred-150x150We can plan to do more than we are capable of accomplishing. The remaining items, if they warranty accomplishing become deferred. They roll over to the next’s day’s list of actions to take.

Of course, in practice, the process to plan, execute, and defer maintenance activities is a bit more complex than described above. The ability to maintain equipment in working order along with minimizing downtime and costs is in large part the balance between resources available to conduct maintenance and the increased risk of system failure due to deferred maintenance. Continue reading

#205 – UGLY COMMUNICATIONS – MALCOLM PEART

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Picture1Good communication; the effective and efficient issue and receipt of the right information, by the right parties, at the right time, and in the right medium allowing both timely responses and decisions.  It’s easy on paper and in theory but oftentimes the ‘noise’ in the communication channels are blamed for ‘bad’ communication.

This ‘noise’ is attributed to the distractions of an inadequate meeting room, noisy neighbours, a flaky internet connection, black & white rather than colour copies, decentralised teams, and even international time differences.  But are these just excuses rather than real reasons? Continue reading

#205 – A MAJOR SUBCONTRACT GONE WRONG – JOHN AYERS

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TAAA-150x150his risk story involves a major subcontract that went awry impacting the program and one of my company’s growth goals.  The goal was to become the sole provider to the Navy for a mine killing system comprising two major components. One is an underwater kill vehicle and the second one is a launcher (from a helicopter).  To accomplish this goal, we landed a contract with the Navy to design, build and perform tests of a small quantity of units (called first article units). Continue reading

#205 – POLITICAL RISK AND ENTERPRISE RISK MANAGEMENT – JAMES KLINE PH.D.

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aIMG_4231-150x150Former Secretary of State Condoleezza Rice PhD.  and Amy B. Zegart PhD.  have written a book called Political Risk: How Businesses and Organizations Can Anticipate Global Insecurity.   It has received good reviews.  Having read the book, I would concur.  It is an important book for those concerned with the increasing volatility and associated risk of the global economy.  This piece discusses the relationship between Political Risk and Enterprise Risk Management (ERM). Continue reading

#204 – TODAY’S RISK MANAGERS – TOMORROW’S CEO’S – JIM TONEY

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Picture1Last year I read an article that said today’s risk managers are tomorrow’s CEO’s.  I was intrigued and wanted to advance my career.  This is my story with Carnegie Mellon University’s Chief Risk Officer (CRO) program.

The Carnegie-Mellon Chief Risk Officer (CRO) course is timely.  Having attended the inaugural CRO course, some observations and thoughts might be of interest.  First off, the curriculum, faculty, advisers, and facilities are all first rate.  Continue reading