Category Archives: Black Swans

Risk-based Management in the World of Threats and Opportunities: A Project Controls Perspective

Risk-based Management in the World of Threats and Opportunities: A Project Controls Perspective Continue reading

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Diversity Risk in the Canadian Workplace

If we look in the past, multiculturalism has a long and wide history in Canada. It was then adopted by the government during the 1970s and 1980s (Kobayashi, 1993) and (Duncan & Duncan, 1993).
From that time onwards, various religious and cultural influences flourished in our society; from the family to the workplace and into the main building blocks of Canadian politics. They consist of people from a multitude of racial, religious, and cultural background. 

Multiculturalism was an open invitation to “cultural pluralism”, a state where smaller groups within a larger society maintain their unique cultural identities. It means that the values and practices of a distinct cultural group are accepted by the wider culture provided they do not violate any governing laws and values.

Note that “cultural pluralism” is often confused with “multiculturalism”. 
Yes, the attributes are very similar except for one evident distinction-“multiculturalism lacks the requirement for a dominant culture (Wikipedia, 2013.Cultural Pluralism). 

In the midst of these diversities lie the risks and questions that we all have to answer and manage every day.  Continue reading

Posted in Analysis, Black Swans, Business, Canadian Politics, Causes and effects, Construction Management, Data Assessment, Data Maturity, Decision Making, Diversity, Diversity Risk, E-Touch Up, E-Touch Up Products, Economics, Execution Strategy, Information Maturity, Integration, Issues and Problems, Managing Assumptions, Managing Constraints, Monitoring, Opportunities, Opportunity, Overseas Contract Workers, Overseas Foreign Workers, Pinoy OCWs, Planning and Scheduling, Program Management, Project Management, Quality Management, risk, Risk Assessment and Treatment, Risk Case Study, Risk of Working Overseas, Risk Relativity, Risk Universe, Risk-based Management, rufran frago, Rufran's Blogs, Threats | Tagged , , , , , , , , , , , , , , , , , , , , | Leave a comment

Diversity Risk – Case 1 : Nho Klu

I happened to come across Nho recently and he has this to say:

“My family immigrated to Canada in 2003 and was into my second year when I got employed in that EPC company where I eventually reported to John. When John talked, I was all ears. By not being vocal against some of his methods, I thought I was showing my respect and loyalty. Although, I sometimes felt he does not have any idea about the task, I kept my mouth shut. He was my leader and I trusted him to do things correctly. I have never done anything unless I have his blessing. What kind of Leader was he that after giving my best approving-yes-attitude and respect, that was how he repaid me? I do not have any idea.”

The truth is (that is whether you admit it or not) there will be times and occasions that one just cannot seem to get his message across and vice versa. The other party or parties apparently do not appreciate what one is bringing to the table. In the midst of these diversities lie the risks and questions that we all have to answer and manage every day (Frago, R., 2017.Diversity Risk in the Canadian Workplace.LinkedIn Pulse).

Managers tend to see the next person through perception all the time. He sees someone the way others painted the person or what he himself has painted the person to be.

The danger is, what the leader perceived might be farthest from the truth. Continue reading

Posted in Analysis, Black Swans, Business, Canadian Politics, Causes and effects, Construction Management, Data Assessment, Decision Making, Diversity, Diversity Risk, E-Touch Up, E-Touch Up Products, Economics, Execution Strategy, Information Maturity, Integration, Issues and Problems, Managing Assumptions, Managing Constraints, Monitoring, OFW, Oil Future, Opportunities, Opportunity, Overseas Contract Workers, Overseas Foreign Workers, Pinoy OCWs, Planning and Scheduling, Program Management, Progress Measurement, Project Management, Quality Management, risk, Risk Assessment and Treatment, Risk Case Study, Risk of Working Overseas, Risk Relativity, Risk Universe, Risk-based Management, rufran frago, Rufran's Blogs, Threats, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , | Leave a comment

Planning, Scheduling, and Safety

There are 150,000 collisions, 350 traffic deaths, and 20,000 injuries every year in Alberta, Canada (AMA, 2011).

You might be living somewhere in another place or country and you have different numbers. Your statistics might be worse or better.

The thing is, behind this statistics are faces of families and friends, the communities, and workplaces. They are all negatively affected and there is an urgent need to understand and do something.
If one thinks about it long enough, he will realize that the solution to this harmful and deadly consequence is risk-based management. Continue reading

Posted in Analysis, Black Swans, Causes and effects, Data Assessment, Data Maturity, Issues and Problems, Managing Constraints, Monitoring, Planning and Scheduling, Program Schedule, risk, Risk Assessment and Treatment, Risk Relativity, Risk Universe, Risk-based Management, rufran frago, Rufran's Blogs, Threats, Uncategorized | Tagged , , , , , , , , , | Leave a comment

Black Swans

Black swan events are so fascinating that they are a common source of discussion in many risk management forums. The variety of perspectives coming from all directions never ceases to amaze.

To a risk manager, ‘black swan’ phenomena are highly unlikely events that have massive impacts on a business or society on the rare occasions they occur. It means that the event is unexpected, but is of huge consequence (Ferguson, 2014). There is no scientific way at present to predict black swan events reasonably and acceptably.
Continue reading

Posted in Analysis, Baseline Management, Black Swans, Business, Canadian Politics, Causes and effects, Construction Management, Critical Path, Critical Path Management, Data Assessment, Data Maturity, Decision Making, Deterministic Schedule, E-Touch Up, Economics, Information Maturity, Integrated Schedule, Integration, Issues and Problems, Managing Assumptions, Managing Constraints, Monitoring, Oil Future, Opportunities, Opportunity, Planning and Scheduling, Program Management, Program Schedule, Progress Measurement, Project Management, Reporting, Risk Assessment and Treatment, Risk Relativity, Risk Universe, Risk-based Management, rufran frago, Rufran's Blogs, Threats, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment