By Greg Hutchins (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

Over the next 10 years, I expect many more industries to be disrupted by software, with new world beating Silicon Valley companies doing the disruption in more cases than not.
Marc Andreessen – Venture Capitalist

We’ve been involved in engineering and tech automation for years. What surprises us is the observable breadth, depth, and impacts of automation (AI included) over the last five years, which COVID accelerated. What’s the big deal about automation?

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By Greg Hutchins (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

So, when should a company self-disrupt? Or, more importantly when should you self-disrupt.

Companies face these disruptor questions:

1. What are possible triggers to start (your) self-disruption?
   2. When should they (you) self-disrupt?
      3. How quickly should they (you) self-disrupt?
         4. How should they (you) self-disrupt?
            5. What’s their (your) final destination?
               6. How are they (you) going to monetize (make money)?
                  All companies are searching for the next killer work model, app, platform, product, or idea. It’s too late when there are not enough products in the pipeline to create a sustainable competitive advantage. Companies learned this lesson the hard way.

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

Project Management – it’s not covered by a discrete law but when it’s practiced under a contract it’s open to accusations of negligence, just consider the UK’s Hedley Byrne case.  Project Management is seen as a risk mitigation measure and, contractually speaking, this requires a duty of care by its practitioners and/or the legal entity represented.  Ignorance of legal requirements is no excuse for not knowing they exist.

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

The PMBOK(Project Management Institute Book of Knowledge) Guide states that project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. Having a good plan, experienced PM, and excellent team is essential to great project management performance.  Managing project risks is key to success. Good project management decisions are vital to project success. To achieve this goal, you need good project management leadership.

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Breaking an old business model is always going to require leaders to follow their instincts. There will always be persuasive reasons not to take a risk. But if you only do what worked in the past, you’ll wake up one day and find that you’ve been passed by.

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

Back in 1990, I was introduced to Og Mandino, a best selling American author, just three of his books, “The Greatest Salesman in the World” The Greatest Miracle in The World” and “The Greatest Secret in the World” these three books alone sold over 50 million copies, his lecture was on “How to write and Speak.” In his presentation, which had been a tradition for more than 40 years, was posted on YouTube not long after his death in 1996. In it, he explains the relationship among three critical elements of any level of success: knowledge (K), practice (P) and talent (T).

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Economics concerns itself with the determination of the most logical and effective use of resources to meet private and social goals for some form of benefit.  While primarily concerned with industry and business, its concepts of opportunity cost, supply and demand, present value, and mutual interdependence economics is also applicable to email; one of our most utilised forms of communication but, possibly, the most hated. [Read more…]

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

A Hybrid Methodology combining the speed and flexibility of Agile and the structure of Waterfall is feasible and practical. I base my opinion on the research I have done. I recently presented a Webinar to Project Management Institute (PMI) members on how to merge Agile and Waterfall to achieve a Hybrid methodology. The focus of this paper is to address the greatest risk to a company in implementing the new methodology i.e., acceptance of it. I addressed how to accomplish the merger to achieve a Hybrid method in a paper I wrote and posted on LinkedIn in May

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Go out on a limb. That’s where the fruit is.||
Jimmy Carter – U.S. President

Working It in VUCA time emphasizes Risk Based, Problem Solving (RBPS) and Risk Based, Decision Making (RBDM), which are the essence of self-management, execution, career resilience, and career agility.

Years ago, our mantra was risk management should be part of the tool box of all engineers.  Why?  Engineers live and work in the world of uncertainty and risk.  Then things changed.  In VUCA time, we say that risk is the entire toolkit and lens for ALL work and living in VUCA time.  McKinsey, the global consulting firm, explains the connection between problem solving and decision making:

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

Interest in risk culture has been growing since the 2008 Global Financial Crisis. It is a topic that is getting more and more spotlight.

Regulatory authorities are demanding that financial institutions improve their ‘risk culture’. Workplace health and safety authorities are urging organisations to improve their ‘safety culture’. Everyone is talking about having a ‘customer experience culture’. And the list goes on.

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