Much has been written about the use of the terms “risks” and “opportunities” with respect to the process that PMI refers to as “Manage Risk.” A recent thread on the subject of the terms on LinkedIn has drawn over 100 responses debating their meaning and usage, dissecting them in detail and resolving little. For the purposes of this post, let’s agree to refer to outcomes of planned project activities as uncertainties.
In the PMI PMBOK guide, Risk is defined as always in the future and is an uncertain event or condition that, if it occurs, has an effect on at least one project objective (usually in the area of budget, schedule or quality).
Risk is the scourge of project management as it is the only ‘unplanned’ event that the project team must try to first, identify, and secondly, determine the effect of this uncertainty on the overall project or organizational goals then thirdly, attempt a strategy to minimize the impact. Risk is managed throughout the project life cycle and each risk is placed into the project Risk Register. (See below example of Risk Register)
First, what is VUCA? It is an acronym for Volatility, Uncertainty, Complexity, and Ambiguity. This is the biggest threat to your safety program.
This is probably the most important question management is asking these days. Functions and activities that don’t add value are outsourced. Quality, operational, internal, and financial audits are outsourced if they don’t add real operational and managerial value. Value means different things to different people. What is important to one organization may be different to another. One company’s best practice may be another company’s standard operating procedure. Continue reading
It appears that the FAA is going to require that 787 First Articles be accomplished again. My article will help improve this reporting if necessary.
Our customers are requiring more First Articles and even sooner than required in the AS 9102A Standard. Standard requires every two years if two years has elapsed since the last manufacture of the product. But there are some OEM’s (Original Equipment Manufactures) that have reduced the two years to one year. So be careful and be sure that you have read the customers contract, ALL Quality Requirements, sometimes called QNotes and FULLY UNDERSTAND all the contract requirements before you sign and fully commit your organization. Continue reading