Tag Archives: risk management

Diversity Risk Case 2 : Puro Mali

Whether a person is the Chief Executive Officer (CEO) of the company, the janitor or cleaner under contract, or a jobless person on the street, I am sure he wants some respect.

The challenges brought about by cultural differences like nationality, region, education, language, family values, political and professional affiliation, exposures, training, expectations, communication styles, philosophies, roles, positions, responsibility, unspoken languages, and many other potential differences produce the common office interactions and relationships we are seeing today in the workplace.

It is very interesting how new Canadians (newcomers to Canada) cope at work compared to their Canadian-trained counterparts in various settings.

In that aspect, communication being a two-way street, we can conclude that it will affect Canadian trained professionals to the same extent. The degree of understanding can improve only if one takes enough time to look through each other’s lenses. Seeing another person’s perspective with an open mind will influence the success and failures of any endeavor. Continue reading

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Posted in Business, Causes and effects, Data Assessment, Decision Making, Diversity, E-Touch Up, E-Touch Up Products, Economics, Execution Strategy, Integration, Managing Assumptions, Opportunities, Opportunity, Pinoy OCWs, Planning and Scheduling, Program Management, Project Management, Quality Management, risk, Risk Assessment and Treatment, 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.
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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

Risk Relativity

A person’s perspective depends on which side of the fence they are sitting on. With that in mind, a risk can be a threat or an opportunity. Your business sees a threat and your competitor sees an opportunity. It is as simple as that.

Each individual player within the risk universe will see things a bit differently compared to the next person, with some people interpreting things in exactly the opposite fashion. In each case, the person can see only one attribute.

The simplistic objective point of view is that risk is either a threat or an opportunity, depending on the observer’s orientation to the goal. Continue reading

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

Risk-based Planning and Scheduling Slides (SAIT Presentation)

101116 Risk-based Planning & Scheduling (My SAIT Slides) from RUFRAN FRAGO, P. Eng., PMP®, CCP, RMP®, Author

Posted in Analysis, Baseline Management, Business, Causes and effects, Construction Management, Critical Path, Critical Path Management, Data Assessment, Data Maturity, Decision Making, Deterministic Schedule, E-Touch Up, E-Touch Up Products, Information Maturity, Integrated Schedule, Integration, Issues and Problems, Managing Constraints, Opportunities, Planning and Scheduling, Primavera Administration, Program Management, Program Schedule, Progress Measurement, Project Management, Risk Assessment and Treatment, Risk-based Management, rufran frago, Rufran's Blogs, Schedule Baseline, Threats | Tagged , , , , , , | Leave a comment

Egad! It is the Most Likely Schedule!

One has to remember that a schedule is a time estimate. It is not the exact actual time value at the time. Experienced professionals try to provide a plausible estimate. Nobody really knows what would be the definitive value.

ML date (or most likely duration) is not the same as expected date (or expected duration). It is but a component of the expected value. With the three point estimates (Triangular or Beta) available, one can calculate the expected duration of an activity, a group of activity, and the whole project’s duration.

It is one of the questions asked more often in risk-based planning and scheduling. Project directors, managers, planners, and schedulers have to know what this term means.

Each time a scheduler tries to explain the concept, he easily gets lost in his own circumlocution. It might be his indirectness compounded by the fact that this particular term shares common but blurred boundaries with some other project and risk management terms.

In view of such difficulties, let us put their words and thoughts on paper so that project practitioners can better understand. Continue reading

Posted in Analysis, Baseline Management, Business, Construction Management, Critical Path, Data Assessment, Decision Making, Deterministic Schedule, Economics, Integrated Schedule, Most Likely Schedule, Planning and Scheduling, Program Management, Program Schedule, Project Management, Risk Assessment and Treatment, Risk Universe, Risk-based Management, rufran frago, Rufran's Blogs | Tagged , , , , , , , , , , , , , , , , , , , | Leave a comment

Risky Decision: Choosing Daycare

It is always better to learn from the experience of others than to experience the pain yourself. Forewarned is forearmed.

As a Risk-based Management practitioner, what more, a grandfather, I would like to remind all Moms and Dads to be acutely aware of all risk indicators before letting others take care of their precious ones. Be cognizant of warning signs that threatens the safety of your child.

Do not focus too much on your own personal objectives, your targets, or your timelines to accomplish something.

Never equate the risk (threat) to the convenience and freedom daycare brings to your life.

Do not rush into making any decision affecting your child. Think deeply and re-think your priority list!

Best Time in Life

The best time in life is being a Mom and a Dad to your kids in their formative years. Nothing beats that.

It is the best thing in the world. It is way beyond work/job, career development, MBA, Doctorate, Diploma, Certificate, and other accolades. Family is first.
Continue reading

Posted in Analysis, Business, Causes and effects, Childcare, Data Assessment, Day Home, Daycare, Decision Making, Issues and Problems, Managing Assumptions, Monitoring, Risk Assessment and Treatment, Risk Universe, rufran frago, Rufran's Blogs, Threats, Uncategorized | Tagged , , , , , , , , , , , , , | Leave a comment