This is part of a short series on the common life data distributions.
The Poisson distribution is a discrete distribution. This short article focuses on 4 formulas of the Poisson Distribution. It is also known as the rare event distribution. It has application in a homogeneous Poisson princess and with renewal theory. Continue reading
When people think of best practice in government, two things come to mind, benchmarking and national award winners. While both represent best practice, there is another approach which is growing in use and importance. This is the Good Governance Framework. The Good Governance Framework is the concept of identifying and listing the best practices in government. Continue reading
Although in ISO 31000 monitoring risk is another of its key tenets, I again see little monitoring in most risk management systems. Periodic review, dashboards, heat maps, and KRI reports are all Review (a different ISO 31000 tenet) not monitoring. IoT technology can deliver real-time monitoring of risk for more than just physical environmental metrics. Continue reading
How can we deliver projects in a timely, workmanlike and effective manner; there are many guides. This is an A to Z process linked to delivery, required decisions, and the establishment of an ethical project environment in which people may work. People may then realise their potential and the potential for their project to be delivered successfully. Continue reading
After the Australian’s risk management standard (AS/NZS 4360:2004) walked on ISO’s world stage in 2009, management system users from other countries have shrugged their shoulders over the need to determine the context BEFORE getting into the familiar plan-do-check-act (PDCA) cycle. However, what lies between the organization and meeting its objectives is uncertainty. Continue reading