Digital Transformation for Utilities

Digital transformation is all around us, whether it is depositing a cheque by phone, asking Alexa to turn down lights in a room, or smart kitchen devices sending cooking progress via Bluetooth. Using remote sensors and analytics to capture data and discover valuable insights about customers, assets and suppliers has opened a frontier for new innovative services and approaches to doing business.

Broadly placed under the term digitalization, this development gives an organization better visibility into their operations and more control over outcomes, saving much time and effort while reducing human error and improving the overall customer experience and service quality. Is there a business case for digital transformation of utilities that operate vast system of assets and deliver vital services to many customers?

As digital applications become mainstream, it is getting vital for the utilities to have a digital strategy to effectively manage the increasingly complex nature of their networks and services.

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Typical Attributes of a Phantom Schedule

Some of the typical attributes of a Phantom Schedule are as follow:

1) Secret (unknown to the other contracting party)

2) It is a simplified version of the contract schedule

3) Considered more reliable and accurate

4) Viewed as a validation schedule that provides better forecasts5.

5) Updated in the background by sponsoring party

6) Decision-making tool by sponsoring party. Management decisions are no longer based on the forecast of the current contract schedule.

Read more… know more!

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The Phantom Schedule

A phantom schedule (ghost schedule) is a non-official schedule prepared behind the official scheduling scene. The timing of its creation can be anywhere between project start date to completion. The urgency governing its creation depends largely on the specific purpose and necessity to which it was created.

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The Three Blind Project Managers and the Elephant

Oftentimes, the discussion on subjects such as risk has a tendency to turn into something more esoteric. When that happens, as a Risk Manager, we should appreciate the brilliance of some people’s individual premises, suppositions, commentaries, and conclusions, for they can add value and substance to what we already know.

There is an old tale about the three blind men who encountered an elephant for the first time and attempt to learn about it by touch alone. Somehow, I am now tempted to change the story to the three blind project managers who encountered risk for the first time and attempted to learn about it.

The story about the three project managers and a project is like the story of Jain’s parable of The Blind Men and the Elephant. The parable is quite relevant to what we are discussing here.

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What about Boxing and Risk-based Management?

Boxing is a risky event for all involved, most especially the boxers. Yes, the protagonists themselves. Monitoring risk can be like watching boxing. Two competitors, both with the intention to strike whenever there is opportunity. They execute the plan, psyche each other, try to prevent and mitigate the threats of getting KO’ed, strive to make the right response, and to make the right decision through keen observation, at a flinch of a muscle (risk indicator).

As a risk-based management practitioner, the bloody sport of boxing is so exciting and fascinating. In my view, it relates so well, … so very close with the concept and philosophies of risk management. “No pain, no gain,” as the old saying goes!

Boxers, their coaches, and cornermen have to come up with a response plan to prevent or mitigate the punches. They put together a strategy prior to the bout similar to a project preparing the risk management plan. They know that boxing judges have a decision to make and it has to be the right one, that is of course, one in their favour! They have only one end goal in mind, to be the winner!

In risk management, as in boxing, playing and losing can still be an Opportunity! Amazing Statistics!

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Happy 4th of July 2019 to all our American Family, Friends and Colleagues!

Let no one ever forget…

“We hold these truths to be self-evident, that all men are created equal, that they are endowed, by their Creator, with certain unalienable Rights, that among these are Life, Liberty, and the pursuit of Happiness.”

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PM Solution Pro travel log : BSU aiming to be one of the leading Universities in the Philippines and Asia

Rufran’s recent trip to the Philippines brought him back to his alma mater, Batangas State University (BSU). It’s been almost twenty years since he last set foot in the University Main Campus.

His purpose was to see the University and Philippine Association of State Universities and Colleges (PASUC) President Dr. Tirso A. Ronquillo. It was a privilege to be given the chance to talk with him considering that whole week was extremely busy with graduation rites he needed to attend to.

It was a “short-notice request” for an appointment made through Dr. Jessie Montalbo, Vice President for Administration and External Affairs, the final arrangement of which was subsequently coursed through the University Assistant Director of Alumni Affairs and concurrent University Librarian Dr. Agnes D. Arellano.

He walked through the concrete roads, walkways, stairs and corridors leading to the Office of the President with pride and yearning in his every step. The place was vastly improved with new buildings, modern infrastructures, state-of-the art facilities, and a well-balanced façade more pleasing to the eyes. The amazing growth BSU has undergone through the years was truly a sight to behold. The President proudly intimated during our discussion one of his favourite philosophies, “To appreciate the content, one has to develop a good container.”

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Book-signing Promo Event, at Dana Point, CA a success!

My apprehension that the small group who attended that evening might not show any interest on the subject was unfounded. The ensuing discussions were lively and fruitful. There was excitement in the air, gasps of discovery in each turn, and a promise from the audience to read and promote my work. This small, simple book-signing event was fun and successful. This was first this year since my last book-signing at Indigo Hills, Calgary two years ago.

Topic of the evening: We are all risk managers! Risk management is the only thing we do for a living, the very reason why our company or client pays us, the reason why we go to work every day. We manage risk even as we prepare to go to sleep, to increase probability that we wake up the next day healthy and refreshed. The amazing thing is, we don’t even realize it!

In this sense, we are all risk managers as we support our very existence. We survive each daily rigors because we are already unconsciously competent of what we do through years of experience and training.

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PM Solution Pro participated in the AACE Dinner Meeting, “Proactive Trend and Change: Avoiding the Iceberg Effect.”

Risk is about the future. Imagine that from “NOW” (the present) and the future state, there is a timeline. The time duration to the future has to have a value. Threat and Opportunity is about the future. There is no additional sense saying future risk. Saying so is redundancy.
Reliability of work data increases over time, and it signals the right time for full integration. Reliability is a result of data maturity. Good integration results in an effective risk-based project execution, the execution that makes most sense. While the acquisition of good quality information is always in progress, the risk specialist and each team member should strive to help the project manager identify and highlight critical elements needed for success. Always remember that risks must be identified before they can be managed. Risks cannot be identified if no information or indicator relating thereto exists. Unknown risks cannot be managed.

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Book Signing Event at El Torito, Dana Point, California. See you there!

Book Signing Event at El Torito, Dana Point, California. See you there!

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