In the history of business and manufacturing, automation has become commonplace. In many ways, people have been replaced by machines in the manufacturing, retail, restaurant, and corporate settings.
At the same time, opportunities have arisen for employees who specialize in programming, engineering, and maintenance of machines in all areas of commerce and industry.
So here’s the crucial question: Will automation kill or create jobs? Continue reading
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
Introduction
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 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