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All articles listed in reverse chronological order.

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Failing Projects – A Sum of All Fears

Failing Projects – A Sum of All Fears

Guest Post by Malcolm Peart (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

What is ‘the sum of all fears‘…apart from a Hollywood movie?  During WW2 Winston Churchill knew the risk of failure and he postulated that, even when courageous people amalgamate, they will know fear:

“…take the most gallant sailor, the most intrepid airman or the most audacious soldier, put them at a table together – what do you get? The sum of [all] their fears”. War is a much more serious endeavour than any civilian project but fear is fear.  If a project teeters into trouble the Project Team will fear failure.  They must then deal with this reaction and have the courage to overcome trouble and avoid failure. [Read more…]

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The Porsche Adventure Continues

The Porsche Adventure Continues

It’s been a few years since I have had a Porsche 911 in the stable. It seemed like the right time since were down to only two sports cars in addition to the daily drivers.  I think five cars is the bare minimum these days.  “It’s only a problem if you want to stop but can’t.”  I don’t want to.  There are some less free spirited individuals in the house who have expressed differing opinions.

[Read more…]

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Black Swans or Just Wishful Thinking and Misinterpretation

Black Swans or Just Wishful Thinking and Misinterpretation

Guest Post by Geary Sikich (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

There seem to be a lot of sightings of “Black Swans” lately. Should we be concerned or are we wishfully thinking, caught up in media hype; or are we misinterpreting what a “Black Swan” event really is? The term “Black Swan” has become a popular buzzword for many; including, contingency planners, risk managers and consultants. However, are there really that many occurrences that qualify to meet the requirement of being termed a “Black Swan” or are we just caught up in the popularity of the moment? [Read more…]

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Using the “Five Whys”

Using the “Five Whys”

Getting to Root Cause with “Five Whys”

There is no more important task in an FMEA than correctly identifying the “Cause.” Finding the root cause is the heart and soul of FMEA procedure. When you have the right cause, it opens the door to solutions. When you have the wrong cause, nothing gets accomplished.

By continuing to ask “why,” the team will be able to discover the progression of cause-and-effect relationships behind a problem and the root cause that is below the surface.

Wisdom begins in wonder – Socrates

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Using CMMS to Minimize Production Losses and Maintenance Costs

Using CMMS to Minimize Production Losses and Maintenance Costs

In many manufacturing plants, managing equipment breakdowns and can seem like an overwhelming task. Machine failures occur without warning, production lines go down, managers and supervisors point fingers, and maintenance personnel continually chase parts and problems. 

It’s often the case that these plants do not use a CMMS to gather data, plan preventative maintenance, or schedule repairs. This lack of planning contributes to a reactive maintenance environment where personnel is constantly trying to ‘keep up’ with production line problems.

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Project Organizations – Harmony or Cacophony

Project Organizations – Harmony or Cacophony

Guest Post by Malcolm Peart (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

In a galaxy far-far-away a Jedi Knight said, “Integrated Matrix” and, with a sweeping wave of his hand, the project organisation was immediately taken from the Dark side of chaotic confusion and the Force was with them…

This could be the end to a Star Wars movie about project management (LOL).  However, and with few earthbound Jedi project management practitioners, our project organisations are rarely perfect and not what they would claim to be. [Read more…]

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Resilience and Enterprise Risk Management

Resilience and Enterprise Risk Management

Guest Post by James Kline (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

The term resilience is used in reports and studies by numerous government agencies and international institutions.  For instance, in 20014 the Organization forEconomic Cooperation and Development issued a report entitled “OECD Reviews ofRisk Management Policies: Boosting Resilience Through Innovative Risk Governance”.

In 2015, the Rand Corporation conducted a study to the UnitedStates Department of Energy.  It was entitled: “Measuring the Resilience of Energy Distribution Systems”.  Resilience is considered important by insurance experts. The National Academies of Sciences, Engineering and Medicine note the need for resilience when updating the National Highway System. This piece examines why it is important, what resilience means and its relation toEnterprise Risk Management (ERM). [Read more…]