Black Swan is a Remarkable Risk Management Concept

Unknown unknowns (black swans) might be in the room, or even an elephant, for all we know, but we cannot see them until circumstances make them visible. Once we see that the risk exists, we surmise that it no longer qualifies as a black swan event because we are now aware of the risk, and the element of surprise is no longer there. It is now the typical type of risk that you and many risk managers are already familiar with, the known unknowns.

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Who can provide remote Schedule Management and Quality Assessment?

PM Solution Pro offers remote support in Schedule Management, Quality Assessments, Reviews, and Audits. We have successfully used P6 Professional and Deltek Acumen Fuse toolsets in supporting various clients and project organizations. Our team can guide your project organization in the development of your very own standard in-house Schedule Quality Metrics, making it possible to assess an entire project portfolio in a fraction of the time compared to manual means.

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How to Estimate a Steam Power Plant Annual Operating Budget-Simple Approach

Suppose there is a choice between two production methods; the usual favored approach would be the one with the lowest total cost. However, it is not always the best choice. Therefore, presenting a straightforward approach to calculating the unit cost is essential. We can use it to facilitate the selection of the best alternatives with an optimized economic return. This book introduces the method of obtaining the material (or process) unit cost of a Steam Power Plant to calculate its annual operating budget and touches on the reliable estimation of operation, maintenance, and project works. I have designed each section to walk the new cost specialist or plant engineer every step of the way, leading to complete understanding.

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Learn Risk Management Fundamentals in the book, Risk what are you? The Risk Manager’s Poem

This book is for management professionals, future professionals, and children of reading age, twelve and up! Today, we are proud and happy to publish an original 18-stanza rhyme poem in a fully illustrated book for future and present risk managers.

The pleasing element of a rhyming poem brings joy and knowledge to many. It is inspirational to hear words that rhyme, uplifting our being by imparting meaning using the song-like attributes of the verses. The command of a poem makes one remember, absorb and learn more.

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Everyone sees World Events Based on their interest 

I remember very well what my father said forty-six years ago, while I was visiting his workplace as a young boy in the Governor’s Office, Province of Batangas, Philippines. He was the Provincial Administrator-in-charged of socio-political affairs at that time (1976).

My dad articulated that the statement is about goals, objectives, missions, and visions. Some are grander, and some are simpler. Instead of saying, “there’s no greater goal than a personal goal,” he chose the word “interest” to sum it up. Of course, as can be expected of most young people, what I heard went from one ear and out the other.

I only began to realize the wisdom of his statement years later.

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Improving the Quality and Probability of Success of your Project Portfolios using Deltek Acumen Suite Fuse/Risk/360

I want to take this opportunity to let you know how to qualify your project schedule more comfortably without spending numerous hours and even days to make conclusions and recommendations.

Do you want to make your project schedule better, more reliable, achievable, predictable, and successful? Are you responsible for a group of management practitioners accountable for schedule quality, identifying risks, risk drivers, schedule drivers, and calculating contingencies? Are you faced with wasted time, analysis paralysis, growing threats of delay, stubborn contractors, vague contracts, changing scenarios, shifting baseline, and team misalignment? 

Well, I have good news for you! In partnership with Deltek, PM Solution Pro brings to your attention, Acumen Suite of Applications (Fuse/Risk/360). 

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Happy Easter 2022 Everyone! A new life is before us!

Easter, also called Resurrection Day and Pascha, is a Christian holiday celebrating Jesus Christ returning from the dead. Christians believe that it is the holiest day in the year. Some people who are not Christians celebrate it also as a cultural holiday.

The New Testament states that on the Sunday after Jesus was killed, his body was no longer in the tomb where he was laid. Later, Jesus is said to have appeared to over 500 people and preached to them. The New Testament teaches that the resurrection of Jesus is what Christianity is based on.

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Integrated Schedules, Must Have in Program Portfolio Management

Program management is the process of managing several related projects typically to enhance an organization’s outlook, better its industry reputation, to improve overall productivity and to avail of long-term opportunities. I would like to re-share with you today one of the approaches I’ve formulated and used in achieving Program Schedule Integration in the not too distant past.

Management of interdependent multiple projects calls for an integrated approach. Interdependent in a sense that some activities of one project cannot start or finish without the predecessor project activities from another project or supporting group started or completed. For small to medium size program portfolio, effectively managing the overall and overarching schedule can still be quite challenging for Project Managers.

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Risk Management Reflection on the Subject of Superstorms and Mega-Earthquakes

A project manager (or any other manager) has to understand the fundamental and mandatory integrative approach to risk management processes and knowledge areas. The long years of national experience on natural disasters are enough to convince any logical person that disaster management is also about risk management.

Looking towards the future knowing that there is a next big one is the start. Mitigating threat or enhancing opportunity consequences are main areas of control in cases where a risk practitioner has no influence on probabilities.

Underlining the connections between primary risks, secondary risks, residual risks, issues, and problems helps people realize the importance of cause and effect analysis in successfully determining the root causes and potential consequences of any event.

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Truth of the Matter is “No End in Sight to COVID 19”

Now, the whole world is pretty much in the same fix. Two years into this Covid era is very frustrating, bringing a bunch of physical, spiritual, behavioral, and moral problems with it. We all want this plague to humanity to end, but how can something end if the world’s top scientists don’t know where and how the virus started. Yes, the old saying said, “every beginning has an end.” What do you think will happen if nobody understands the beginning while the virus is possibly replicating to another strain like the Delta and the Omicron in real-time?

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