Reflections on risk management

Risk management is the use of tactics formal managers to identify, assess and predict risks for the efforts you are ready. It 'important that the leaders of the time before the beginning of a new company (if it is a formal project or a new approach to service delivery company) to undertake an evaluation of risk management. When a leader engaged in a new company, without taking the time on the risks that may arise, then I think it is truly a leaderPreceded prepared for the things that would face a possible error. Since the process of risk management is not all that time is very short leader to start a business without regard to risk management.

There are three types of personality in the standard view of how leaders approach risk management. First, there is the danger, the unpleasant nature of leadership. This guide will try to avoid the risks, especially to increase the pot. ThisThe market leader is to choose a path or a different approach to the task, if there was no evidence of danger. This in itself is a form of risk management in order to avoid the easy choice.

Secondly, there is a risk-neutral leader. This guide applies both to avoid the risk, or choose the path of danger. Even if these leaders can not avoid the view that the use in choosing or accepting a risk approach. This guide is absolutely necessary to develop a plan to manage risks, sinceE 'possible, the risk may be vulnerable road approved.

Thirdly, there is a risk, looking kind of leader. This general guide, choose the way that the risk tends to go, and more likely to choose to take the risk if the risks are greater. Sure, it is important that these leaders drew up a plan for risk management.

When risk management into consideration, we must also determine the level of certainty about the likelihood of risk. There are three levels ofcertain that we imagine. Are you sure, designed, and uncertain. Predict the value of some of the leaders, with an accuracy of 100% of the risk and possible outcomes. The height of the fund manager can not be expected to predict with certainty the possible situations and outcomes should occur, the likely risks. The amount is uncertain, the operators did not reliably predict the outcome or potential risks should occur. This is important for managersFactor in planning strategies to reduce risks or to neutralize them.

What types of risks, a leading provider may need to consider? In the business world, there are four categories of types of risk, a leader must take into account. There are risks of the project are the risks for the program. These risks are related to things such as funding, schedule, contractual relationships, and there are political risks for a project or program.

Other risks: technical risks, which include items such as performanceproduct development risk that may occur during production, and obsolescence. The information is outdated, the risk that products may be obsolete before it hits the market. There is also a risk, as the engineering of doing things, such as reliability are the product (as the product for normal use), the operation of the product (the product so effective as expected), maintenance (maintenance) and training is the product of (special training is required).Finally, it is the kind of production risks, which covers issues such as the package is in terms of consideration, manufacturing and materials available. This is only the operational aspects of production.

Here are some useful questions to consider as they begin to assess risks and risk management. A leader can be identified, and all the risks? The answer is probably no. In short, the future is not always clear, particularly in the production andproduction, it is almost impossible to identify all the risks. If a head, also trying to identify all the risks? The answer is probably no. (Did you see that?) For all these reasons I have mentioned, and because a leader can try to keep as precious, a business risk, it is better to think that only a certain amount of time to use reflection, then forward.

Some thoughts on risk control. Knowing what a leaderhave an aversion to risk seeking risk-neutral or risk. Assess the level of security about their risks. Is it safe to wait, or insecurity? If provided, what are the signs? Also note the participation of teams in the process. If you are committed to make or accept or indifferent? So quiet, you can leave the leader (you)? If yes, this is not good, and as leaders, must make to the process.

Keep Lessons LearnedAfter each session or event. Make sure that the exchange of knowledge, such as silos of risk are more devastating to a team. Develop a strategy to reduce their level of risk management. This is a conditional statement, which reads as follows: If the risk occurs or seems imminent, the approach to reduce or mitigate the damage they cause. Since the implementation of the strategy simple and clear.

Enter your plan for risk management in a formal manner. Cana simple set of states of decomposition, could be a document or a more formal and participative. There are some very good models for risk management (plans are available some are free, others not). That the chosen strategy, have a plan for risk management. Duda reduce stress, and may be able to leave on time and on budget.

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Blackboard Learning Management System

Learning management systems, or LMSs, are powerful systems created for the effective management of all business and organizational computer software and educational functions. Utilized throughout all types of businesses and organizations, learning management systems are vastly becoming a necessary resource in today's business, organizational, and education economies.

A LMS is customized toward a particular business or organization's needs and once implemented, proves to be an invaluable resource for success and long-term growth. History has told us, mismanagement in any organization often leads to failure.

One industry witnessing great amounts of success with learning management systems is the education industry. One of the leading companies providing a LMS within the education industry is Blackboard Worldwide with their Blackboard learning management system.

The Blackboard learning management system is a leading-edge, interactive education management system without equal. Offered as a group of software applications geared toward an enhanced online teaching and learning experience, the Blackboard learning management system is rapidly becoming the top choice in a LMS for many educational facilities such as Northwestern University.

A few of the reasons the Blackboard learning management system is so successful can be summed up as follows:

Web-Based Instruction:

The ability to create powerful learning materials by using internet 2.0 technology is allowing both instructors and students to teach and learn in a virtual environment like never before.
Web applications such as streaming video and other web-based interactive programs make it seem as though the classroom is right in front of you.

Such environments are extremely conducive to focused teaching and learning. There may be other students in the 'classroom', but the feel of a one-on-one teaching experience makes the Blackboard learning management system seem personal.

By utilizing the power and reach of the internet, students are now able to use the Blackboard learning management system to interact not only with their instructor, but other students as well. Capabilities such as these often encourage students to better interact with the course work, and participate in a more active manner all while building comfortable relationships.

For instructors, the Blackboard learning management system offers many benefits as well. Not only can they create exciting and new interactive instructional material, the Blackboard learning management system has built-in student assessment and evaluation capabilities. This allows both student and instructor to interact conference-style without the distractions associated with a live classroom setting. In short, the student and teacher are more at ease during the learning and knowledge-building process.

In summary:

The Blackboard learning management system is a powerful ally for students and teachers alike. The lessons are easily prepared and the students are more at ease, which often leads to a more positive learning environment.

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Influence Management - Your Fast Track to Greater Impact - Part 2

In Part 2 of this series, we’ll continue to examine points of influence, the social science research that supports their efficacy, and what you can do as a business leader to use them to your advantage. The points of influence in Part 2 are Contrast and Pointing out the Negatives.

Contrast

Contrasting ideas in proximity is an effective point of influence. For example: big vs. small, expensive vs. inexpensive, showing the “best” option first and then showing a smaller option next. This is why they sell you the add-ons to your brand new car after you’ve already agreed to spend the big bucks on the new car. Studies done in the retail industry have borne this out, particularly in the clothing sector. It is traditional thinking for a salesperson that if someone comes into the store – say a men’s clothing store – that they should sell them something small first like a tie or a shirt and then try to move them up to bigger ticket items from there. Research shows that the exact opposite of that is more effective. The reason is this: if I spend $25 on a tie and you show me a $450 suit, the $450 will seem bigger to me than it really is – that’s the law of contrast. The logic is that you want to show your customer the suit first, because it becomes a lot easier to show them the shirt and the tie after that because after spending $450 on the suit, the $50 shirt and $25 tie will seem smaller in comparison. You can invoke the law of contrast to your advantage in this manner.

The Watergate break-in that led to the downfall of Nixon’s presidency is a historical example of the law of contrast. G. Gordon Liddy who masterminded the whole thing ultimately received $250,000 to fund the operation, in untraceable cash, that was approved by the Republican National Committee (RNC). Back in the early 1970’s $250,000 was a whole lot of money, which might cause you to wonder how could they possibly have approved it. Unsurprisingly, the law of contrast played a large role. Liddy’s original proposal requested $2.5 million, custom fitted aircraft and all kinds of sophisticated surveillance equipment. The RNC recoiled from this unthinkably extravagant and risky plan, so when he came back and said “well, how about $250,000 then?” guess what – it looked like a real bargain. They didn’t question it. In fact, they barely even discussed it before approving the funds. The RNC leadership was just looking at the contrast and made a decision to move forward. The rest, of course, is history.

So relative to the law of contrast, do you start small and work up to your big ideas – or do you start big and work down to the right fit? How can you use the law of contrast to create more influence?

Point Out the Negatives

Pointing out the negatives makes you appear more trustworthy, as you give a balanced presentation of the pros and cons of your proposals and ideas. There are always plusses and there are always minuses. Why is it that we never seem to hear the minuses from most salespeople? What are they afraid of? They fear losing the deal! To build a relationship with somebody, move them to your side of the table, and influence them it’s counterintuitive but you should be helping them understand the negatives. This assumes that your proposals and ideas are crafted in such a way the positives outweigh the negatives, but you should seriously consider being up-front and sharing the negatives. It’s a significant point of influence because it makes people feel like they’re being given the whole story. They are not forced to rely on their imagination to figure out “what’s he not telling me,” or “what’s the real agenda here.” If you were to deliver your ideas and proposals in a more balanced way, you will have more influence.

Are you starting your idea presentations or your proposals by laying out some of the negatives? Give it a try and see what happens, because you’re going to be much more likely to have the other person joining you on your side of the table.

In Part 1 of this article series, we outlined the word “Because” and Reciprocity as points of influence. Now we’ve added Contrast and Pointing out the Negatives as two more. Part 3, the conclusion of this series, will describe two additional point of influence – Consistency and Association.

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From Project Management to Portfolio Management

"Organizational portfolio" or "projects portfolio" is a collection of projects or programs and all the additional activities existing within an organization, brought together to ensure an effective management of all the activities within the organization fully coordinated with its strategy.

The main goals of portfolio management are to provide a broad overview of organizational activities focusing on the strategic goals and to support decision making based on all the projects within the organization.

Meticulous management of each of the "portfolio components" is crucial, but it does not necessarily ensure the realization of all of the organizational goals. This requires integrative management of the projects making up the projects portfolio, which relates to the mutual impact of the projects, resource constraints and priorities.

Organizational project management and portfolio management are closely connected. A project constantly receives strategic information from the portfolio it represents, and provides the portfolio with "on-site information".

The Project Manager measures the planned vs. actual in relation to budget and content scheduling, and reports to the Portfolio Manager. By contrast, the Portfolio Manager prioritizes and connects among the projects. The flow of information in both directions leads to the process, in which project management and portfolio management are bonded in order to make sure that the right resources are allocated to the right project, or, to put it simply, that the organization invests most of its efforts into the right place.

Portfolio management represents a continuous business process, which is focused on two major phases: portfolio planning and monitoring and control over its progress. The process is cyclically recurrent, in compliance with the organizational policy.

During the project planning phase, the projects that will lead to revenue maximization or will best serve the organization's strategy are selected. The availability of information relevant to the strategy the portfolio is supposed to support, is checked, and the measurement method, by which the projects related to the portfolio will be measured, is also defined. This is supposed to create uniformity in project management processes and their measurements, enabling the organization to benchmark its future projects objectively.

After the portfolio has been established and endorsed by the senior management, it has to be monitored and controlled. At this phase one has to make sure that the portfolio is functioning according to the pre-defined organizational processes. For example, the portfolio can be checked for the availability of the projects, in which the net present value (NPV) is higher than a specific value, or the return on investment (ROI) is not lower than the minimal value defined. Moreover, control processes check the progress of all the projects according to plan, for example: schedule compliance, resource overload, etc.

In order to make control procedures simple and effective, a portfolio manager has to have an easy access to the updated project overview, which can be obtained from a uniform and integrated system.

This system is supposed to contain general information on the projects within the portfolio and to enable one to perform analysis on the organizational level, and not only the standalone project level.
Such a system can allow for performing "What if" analysis for assessing different alternatives and providing an information basis for the best business decisions within the organization.

Microsoft has developed the EPM (Enterprise Project Management) application aimed at supporting organizational portfolio management. Based on MS Project, EPM presents an overall solution to portfolio management based on an organization-wide resource pool and on a broad overview of all the projects.

PME TEFEN has developed the "PME- Portfolio Dashboard" - a tool based on EPM solutions, which enables any organization to manage its portfolio in an effective way aimed at reaching the organizational strategy goals.

The "PME- Portfolio Dashboard" provides a summary of all the project data in addition to the one existing in EPM. This is intended for supporting the most senior managers of the organization in decision making processes by providing the mean figures of all the projects performance. The possibility of obtaining "on-line" updates enables the management to respond rapidly to the cases, in which the organizational efforts are not directed to the "right" projects.

In a single view, the tool centralizes all the principal measurements of the portfolio after the mean figures of the projects managed by the system have been derived. This is how the tool assists project progress monitoring and resource overload management, including scheduling, costs and risks.

If a problem with one of the metrics surfaces, the manager can do "Drill down" for projects negatively affecting this metric and single out the task causing the problem.

This is, basically, how the organization's management can obtain the most current data relevant to locating a problem at any given time and make the best decision, which will constitute a dynamic response to the changing needs of the organization and the market.

Organizational portfolio management is essentially an integral part of organizational management. The right project management serves as a basis for portfolio management. While until recently PMI has focused on standalone project management, this leading body of project management is currently addressing the broader issue of portfolio management.

PME TEFEN specializes in customizing and implementing project management methodologies and tools and will assist your organization in achieving higher performance levels and executing the right portfolio management processes that will effectively bring the strategy of your organization towards its full realization.

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Women in Management and Why We Need Them

Here we are only about forty years after the first women burned their bras and yet - we do not have complete equality in the modern workplace. Let's face it: this situation is simply not good enough! Our work places are, in essence, despite everything, still male-dominated hierarchies in the old model of command and control of management from that generally accepted date, then.

To look at this issue pragmatically, men and women haveotherwise wired people - no, it's no joke - we really do have these differences in the anatomy of the brain. So What? Now that means we actually do, therefore the sexes think differently, and this means that male-dominated hierarchies are prisoners of male-dominated thinking - we need more women in management.

Our companies need to promote more women in leadership positions. This is not a rant by someone claimed, the status quo as unjust - it is a practical proposal for aSolution to the problem of many organizations today. To break out of rut, find that many of our organizations to be put, we need a new approach and this approach will be found only by turning away from traditional thinking.

In the book by Stephen Covey's The 8th Habit, he champions the emergence of a "new paradigm" - a new card - for the practice of management in the modern workplace. He suggests that the old command and control leadership style dead inthe water, and that a new style for the demands of the 21st Century is necessary. My conviction is that such a paradigm shift could be accessed by attracting more women into leadership positions in our organizations.

The female brain is known that more connections between the hemispheres than the male brain. This may anatomical evidence for the popular notion that women are better at multitasking than men. It is this fundamental difference in the wiring, which is responsiblefor a holistic thinking style among women - a greater commitment of the right brain processes involved in solving problems.

The time is ripe for a revolution in management circles. Now is the time for women their rightful place as fully equal to taking in the modern workplace. Organizations, be bold enough to recognize the effectiveness of such a move wins the day, and eventually will be followed by the others.

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Management Challenges of Multicultural Teams

I have outside the U.S. for much of my career, worked and learned what some of the challenges in managing a diverse and multicultural workforce. The following three challenges are becoming more common as more companies operate internationally and how the domestic workplace is increasingly diverse.

Cultural arrogance, or the belief that individual cultural orientation is the best thing is common in many people. These people defend their way of doingAnd other things to criticize, the different approaches to their cultural orientation. But to bend other individuals in a position to respond to their approach in a way that the cultural orientation of the group. Interestingly Alder found that the companies feel that they could train this ability, rather than renting is not (p. 33). I think the opposite is the case. The majority of companies have the challenge to the success of managers working with different groups coming from the condition that they will be able to adapt, orWorse still, the majority assumes that culture is superior than the minority, therefore, not stress this enough, business flexibility. I have seen many managers fail because they are not flexible in adapting to the needs (culture) of the local organization.

The second challenge is to communicate a clear understanding. Many managers are great communicators in their homeland, not in other cultures, because they underestimate the complexity of a clear understanding of the variousCultures. Words are either mistranslated or used different cultural filters that people produce different results or even the sound or the manners of the presenter can lead to different interpretations. An example would be an American to give a "thumbs up" for agreement, while in parts of India would be considered an obscene gesture. Take extra care and time to make sure the audience understood before one can think of to reach agreement.

FinallyUnderstanding of cultural differences around expectations can be a challenge. For example, many Americans tell me the Spanish did not work hard. After all, the Spanish start their day at 9 or 10, they take a long lunch, happy, and often have late dinner and drinks. Meanwhile, Spaniards say I find it frustrating to lunch or dinner meetings with the Americans because they do not want to spend enough time trying to get to know each other and socializing. For Americans to be a "working lunch"estimated to be as efficient use of time.

For the Spaniards, who believe that the relationship needs to be consolidated before serious work can begin, long lunches and late dinners, the ability to build trust and provide the knowledge about each other. Therefore, an American manager in Spain might be surprised that not enough work, because of all the conviviality always done instead. Meanwhile, a Spanish can not understand managers in the U.S., as the preferred group work to beover lunch, because they have a sandwich and a drink at the next meeting, rather than the time to establish the relationship. In both cases, either to an American or a Spaniard have difficulty managing a group from another culture without a clear understanding of this cultural work expectations.

References:

Alder, NJ (1983). Cross Cultural Management: Problems to be overcome. International Journal of Management and Organization. 13 (1-2), pp.7-45.

Last Updated (Friday, 01 December 2006)

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Interpersonal Communication And Conflict Management Skills For Managing Employee Relations

The conflict is inevitable, but they can be reduced, and into something positive. The interpersonal conflicts we experience every day, both from large organizations to small businesses. Conflict shifts people focus away from work and the basic objectives of the team, department and organization. It has a negative impact on productivity, morale and ultimately the results. The most important skills for the management of staff is required, human relationsCommunication and conflict management skills.

Interpersonal communication is the basis for the production of the hostile work environment and allows you to build the supervisor or manager the ability to make a good relationship with the parent group. In an organization are required to work with a group of people. Necessary because of the cultural differences between the team members a tremendous amount of interaction. Interpersonal skills can contribute tocreate the right climate in the workplace to reduce disruptive behavior. Also, supervisors and managers should meet their staff in relation to a goal. Interpersonal communication has many dimensions. Interaction with other people allows the individual the opportunity to develop and improve their own ideas and share valuable information with others. Through the proper exercise of interacting people to find solutions to improve their organizational efficiency. Interpersonal skillsdevelop good employee relations with the workforce through visual and verbal images make employees happier and more fulfilled.

No one likes to deal with conflicts, but the truth of the matter is that we need. Issues that are not treated, tend to septic and other areas and relationships distribute. Conflict management skills can make in solving industrial relations problems quickly and effectively to help and a strongerSatisfaction with the working group. Surveys show that managers now spend about 20 percent of their time on conflict resolution. And, as employees are asked to communicate a greater variety of people, they have their own conflict management skills. Most of us are less skilled in dealing with conflicts, as we should be. Although studies show that a negotiating mandate is usually the best behavior in response to a conflict situation.

When people are in conflict five basic conflict handlingPositions:

Avoid
Admission
Competing
Compromises
Collaborating

Unordered leadership and problems exacerbate the conflict, because the communication is distorted and people are frustrated in a workgroup. Managers should always be up-address difficult situations and talk. Effective listening convey information correctly. Listen to what the person says, and the reaction to the conversation in a positive way in reducing workplaceConflict. Conflict of any kind creates a kind of emotions such as anger, frustration and pain. The management of these emotions with respect and careful manner can have a good relationship with the workplace. With all these techniques, you improve your conflict management skills that go a long way in promoting positive employee relations with a staff.

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