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(MRC SIG) › Working Group B: What principles are important in dealing with complexity?
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This is not meant to be provocative, rather to explore a little – what is the purpose of a “life cycle”
I have a sense that the term is used often without thought, as if you have to have one even though its purpose, and how well it fulfills that, is not clear
If we knew what we wanted the structure to do it would be easier to answer the question
- This reply was modified 1 year, 6 months ago by Stephen Grey.
::Thanks for the article, Rob. I missed the recent meeting so your comment about good risk managers spotting these financial crashes may have roots in the discussion at that meeting.
As per a recent ‘thread’ we had over one of the Big 4’s (some say it is 5) consulting firm’s annual report, you rightly highlighted the absence of the assessment of talent which is key. And at the risk of repeating what you may have discussed in the meeting I just missed (MY BAD) and what I said in that discussion thread, Risk Managers are often not experienced in all of the aspects of the risks in a complex business – instead, they must rely on so many presumed ‘experts’ – one or more (many?) such experts providing input that is a guess, based on limited information (corporate secrets can hide so much), or outright ‘optimism bias. Being charitable, some of these Blacl Sawn events might be wrapped up in that.
But it more likely was as you said – the risks should have been identified – and I would add, probably were. Relating some of my own experience, I have watched high risk issues that are repeatedly identified but not realized, become ‘the new normal’ with complacency setting in with decision-makers. And as per some recent research, when people see others getting away with benefits that are very risky (or even illegal), they are prone to do the same thing – this especially so with those comfortable with taking risks and ‘perpetual cheaters’. I suspect that some of these human frailties played out, whether all those involved were ethical professionals or not. After all, companies are in business to take risks to make money, and if many others are doing so the pressure to ‘stay with the pack’ can be overpowering.
A great article, which unfortunately is absent the comments of the risk managers of the many governments and businesses involved – those likely in post-event investigations and buried under layers of confidentiality. Many thanks – Ian
::Good morning everyone,
Working on the transcripts and video of this morning meeting.
Please find attached an article that some might be interested in it is based around 9 financial risks that came to pass. In fact, I am pretty sure prudent risk managers would have spotted the risks in these events long before they occurred.
9 Black Swan Events that changed the Financial World | by Faisal Khan | Technicity | Medium
::Hi Group B
I can’t be at the next Group B meeting, so I thought I might try to add some value by formatting Ian’s paper to make it easier to read and edit.
Please ignore the yellow highlighting – I was marking out references to behavioural requirements for my own use.
I have added a more recent version without the highlighting.
Hope it helps
Cheers
Davin
- This reply was modified 1 year, 6 months ago by Davin Shellshear.
Attachments:
You must be logged in to view attached files.::Thanks Davin (and David). I have always been a big fan of slow and stealth culture change within those Divisions I led as both as a civilian and in uniform. This culture change approach is not new – it was something I learned about in the mid-’90s as we shed 45% of our workforce to address a national debt crisis, when the mantra of the day was ‘you change culture one employee at a time’. And it is why slowly building a complex project support ecosystem is a critical enabler before complex projects start to gain traction as a new way of doing business. It is the same with structured and sustainable collaboration – the organizational culture must change to enable success when dealing with new and powerful partners through contracts as per ISO 14001. Final point – anyone who has ever been in a military uniform truly understands why this approach is the only one, short of the other ‘fix’ preached by many – that being that it is easier to shut down an organization with a sick culture (or fire every manager in a merger and replace them) than to change culture oftentimes. (And, nice to see a Canadian sourced article too!) Ian
::Thanks for the reminder.
Rob, can you chair the meeting on 6th October?
I am not planning on taking my computer to New Zealand, so will not be able to login.
I have separately emailed Ian’s PowerPoint deck on collaboration to Rob and Andrew. On Ian’s request, I will not post it on the forum, but can send it to Group B individuals who want to see it.
Cheers
Davin
- This reply was modified 1 year, 7 months ago by Davin Shellshear.
::Team – The next version of the paper is attached. As requested at our last meeting, it is in WORD format (a 20-year old version, admittedly) so people can send me proposed amendments using the ‘comment’ feature (or complete rewrites), or use this penultimate draft for modification to suite their own purposes (as Living Library members). Please also note that the pagination is done manually so the pages will go askew as you offer amendments. And as discussed at the last meeting (but not red lined): I have tried to qualify the paper at the front with respect to plagiarism and IP rights; I have added a short section of ‘Concluding Thoughts’ at the end of the body of the paper proper; and I have added a section at the end of Annex B to try to address complex project phases. And from Davin’s transcript of the last meeting, I added only a couple of items. Over to you all for detailed/final review – and spelling or editorial comments are now appropriate for <u>clarity</u> (we all hate ‘writing by committee’).
Separately, I have developed a longish Deck on a Canadian version of a structured and sustainable collaboration approach – something also requested at the last meeting. I think you will find that the core of the Deck is pretty typical. I have sent the PDF Deck to Davin to distribute in due course. A the next meeting, we can then set a time to review it is there is interest – perhaps in a separate one-hour ZOOM call. That said, I hope it is pretty self-explanatory so that may not be necessary, although some slides might benefit from an explanation. Ian
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