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Author: Christoph H. Loch
Publisher: John Wiley & Sons
ISBN: 1118276825
Category : Technology & Engineering
Languages : en
Pages : 269
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Book Description
Managing the Unknown offers a new way of looking at the problem of managing projects in novel and unknown environments. From Europe's leading business school, this book shows how to manage two fundamental approaches that, in combination, offer the possibility of coping with unforeseen influences that inevitably arise in novel projects: * Trial-and-Error Learning allows for redefining the plan and the project as the project unfolds * Selectionism pursues multiple, independent trials in order to pick the best one at the end Managing the Unknown offers expert guidelines to the specific project mindsets, infrastructures, and management methods required to use these project management approaches and achieve success in spite of unforeseen obstacles. This book equips readers with: * Causal explanations of why unforeseeable factors in novel projects make traditional project planning and project risk management insufficient * Directly applicable management tools that help managers to guide novel and high-uncertainty projects * Real-world case studies of both successful and unsuccessful approaches to managing high uncertainty in novel projects
Author: Christoph H. Loch
Publisher: John Wiley & Sons
ISBN: 1118276825
Category : Technology & Engineering
Languages : en
Pages : 269
Get Book Here
Book Description
Managing the Unknown offers a new way of looking at the problem of managing projects in novel and unknown environments. From Europe's leading business school, this book shows how to manage two fundamental approaches that, in combination, offer the possibility of coping with unforeseen influences that inevitably arise in novel projects: * Trial-and-Error Learning allows for redefining the plan and the project as the project unfolds * Selectionism pursues multiple, independent trials in order to pick the best one at the end Managing the Unknown offers expert guidelines to the specific project mindsets, infrastructures, and management methods required to use these project management approaches and achieve success in spite of unforeseen obstacles. This book equips readers with: * Causal explanations of why unforeseeable factors in novel projects make traditional project planning and project risk management insufficient * Directly applicable management tools that help managers to guide novel and high-uncertainty projects * Real-world case studies of both successful and unsuccessful approaches to managing high uncertainty in novel projects
Author: Frank Uekötter
Publisher: Berghahn Books
ISBN: 1782382534
Category : Nature
Languages : en
Pages : 208
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Book Description
Information is crucial when it comes to the management of resources. But what if knowledge is incomplete, or biased, or otherwise deficient? How did people define patterns of proper use in the absence of cognitive certainty? Discussing this challenge for a diverse set of resources from fish to rubber, these essays show that deficient knowledge is a far more pervasive challenge in resource history than conventional readings suggest. Furthermore, environmental ignorance does not inevitably shrink with the march of scientific progress: these essays suggest more of a dialectical relationship between knowledge and ignorance that has different shapes and trajectories. With its combination of empirical case studies and theoretical reflection, the essays make a significant contribution to the interdisciplinary debate on the production and resilience of ignorance. At the same time, this volume combines insights from different continents as well as the seas in between and thus sketches outlines of an emerging global resource history.
Author: David Cleden
Publisher: Routledge
ISBN: 1351920413
Category : Business & Economics
Languages : en
Pages : 131
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Book Description
Dealing effectively with uncertainty requires today's project manager to be familiar with a broad spectrum of strategies, encompassing both 'hard' and 'soft' methods. This theme of unified thinking (i.e. the need to selectively draw upon a wide range of strategies in any given situation) will differentiate the book from its contemporaries. By picking up where traditional risk management techniques begin to fail, it brings together leading-edge thinking from a variety of disciplines and shows how these techniques can be used to conquer uncertainty in projects. The ability to make good decisions when faced with uncertainty is the real challenge. It is a universal truth that a decision is only as good as the information it is based on. But good information is often hard to come by, and all projects are vulnerable to the unknown and the unknowable. Thus, uncertainty becomes the sworn enemy of the project manager. Wherever we try to analyse, quantify, plan and act, uncertainty lies in wait to surprise us with its ambiguity and unpredictability. It lurks in every stage of the project lifecycle: in the planning (how long will this really take?), the initiation (this isn't the situation I expected!), the execution (who could have foreseen that happening?), and even the completion of a project (where are the expected benefits?). But managing uncertainty is a lot more than just applying risk management techniques. It requires a deep appreciation of how uncertainty arises and, by recognising its different guises, the appropriate strategies can be formulated. If we can learn how to reduce uncertainty, we can make better management decisions and increase the chances of the project succeeding. This book addresses five key questions: ¢ Why is there uncertainty in projects? ¢ How do you spot the symptoms of uncertainty, preferably at an early stage? ¢ What can be done to avoid uncertainty? ¢ What strategies can be used to deal with project uncertainty? ¢ How can both the individual and the organisation learn to cope more effectively in the future? The reader is assumed to be a either a project management professional, or a senior manager looking for ways to improve project management strategy within their organisation. As such, a foundation in project management basics is assumed, although not essential. The book then builds on this by exposing new ideas and concepts, and shows how these can be harnessed to tackle uncertainty in its many guises.
Author: Francis X. Diebold
Publisher: Princeton University Press
ISBN: 0691128839
Category : Business & Economics
Languages : en
Pages : 392
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Book Description
A clear understanding of what we know, don't know, and can't know should guide any reasonable approach to managing financial risk, yet the most widely used measure in finance today--Value at Risk, or VaR--reduces these risks to a single number, creating a false sense of security among risk managers, executives, and regulators. This book introduces a more realistic and holistic framework called KuU --the K nown, the u nknown, and the U nknowable--that enables one to conceptualize the different kinds of financial risks and design effective strategies for managing them. Bringing together contributions by leaders in finance and economics, this book pushes toward robustifying policies, portfolios, contracts, and organizations to a wide variety of KuU risks. Along the way, the strengths and limitations of "quantitative" risk management are revealed. In addition to the editors, the contributors are Ashok Bardhan, Dan Borge, Charles N. Bralver, Riccardo Colacito, Robert H. Edelstein, Robert F. Engle, Charles A. E. Goodhart, Clive W. J. Granger, Paul R. Kleindorfer, Donald L. Kohn, Howard Kunreuther, Andrew Kuritzkes, Robert H. Litzenberger, Benoit B. Mandelbrot, David M. Modest, Alex Muermann, Mark V. Pauly, Til Schuermann, Kenneth E. Scott, Nassim Nicholas Taleb, and Richard J. Zeckhauser. Introduces a new risk-management paradigm Features contributions by leaders in finance and economics Demonstrates how "killer risks" are often more economic than statistical, and crucially linked to incentives Shows how to invest and design policies amid financial uncertainty
Author: Nick Firoozye
Publisher: Springer
ISBN: 1137334541
Category : Business & Economics
Languages : en
Pages : 281
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Book Description
Managing Uncertainty, Mitigating Risk proposes that financial risk management broaden its approach, maintaining quantification where possible, but incorporating uncertainty. The author shows that by using broad quantification techniques, and using reason as the guiding principle, practitioners can see a more holistic and complete picture.
Author: Xiaoli Lu
Publisher: Springer
ISBN: 9811039909
Category : Social Science
Languages : en
Pages : 256
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Book Description
This book studies the variety of organizational strategies selected to cope with critical uncertainties during crises. This research formulates and applies an institutional sense-making model to explain the selection of strategies for coping with uncertainties during crises to answer the question why some organizations select a rule-based strategy to cope with uncertainties, whereas others pursue a more ad hoc-based strategy. It finds that the level of institutionalization does not affect strategy selection in the initial phase of responding to crises; that three rigidity effects can be identified in the selection of sense-making strategies once organizations have faced the failure of their selected strategies; that discontinuities in the feedback loop of sense-making do not necessarily move organizations to switch their sense-making strategies, but interact with institutionalization to contribute to switching sense-making strategies. This book bridges the gap between institutional thinking and crisis management theorizing. A major step forward in the world of crisis management studies! ——Professor Arjen Boin, Leiden University, the Netherlands In a world of increasingly complex, sociotechnical systems interacting in high-risk environments, Professor Lu’s analysis of how organizations manage uncertainty is both timely and profound. ——Professor Louise K. Comfort, Director, Center for Disaster Management, University of Pittsburgh, USA Prof. Lu greatly enhances our understanding of how organizations cope with uncertainty and make sense of their challenges under the pressures of catastrophe. ——Dr. Arnold M. Howitt, Faculty Co-Director, Program on Crisis Leadership, Harvard Kennedy School, USA This book provides not only a theory of crisis management but also a key concept around which research and practice can be conducted. ——Professor Naim Kapucu, Director of School of Public Administration, University of Central Florida, USA A generic institutional model for analyzing and managing hazards, disasters and crises worldwide. ——Professor Joop Koppenjan, Erasmus University Rotterdam, the Netherlands This book has done an excellent job in opening the black box of how organizations make sense of the crisis situations they face and develop strategies to respond. It should be read by all of us who wish for a peaceful and safe world. ——Professor Lan Xue, Dean of School of Public Policy and Management, Tsinghua University, China
Author: J.-C. Spender
Publisher:
ISBN: 0199686548
Category : Business & Economics
Languages : en
Pages : 339
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Book Description
Emphasising that firms face uncertainties and unknowns, this book argues that the core of strategic thinking and processes rests on the organization and its leaders developing newly imagined solutions to the opportunities that these uncertainties open up. It presents new approaches for managers, consultants, strategy teachers and students.
Author: Fredmund Malik
Publisher: Campus Verlag
ISBN: 3593502631
Category : Business & Economics
Languages : en
Pages : 409
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Book Description
Whatever Fredmund Malik writes, carries weight. This book provides everything you need to know about effective management and day-to-day executive life - in terms that are concrete, practical and productive. The author answers the question of how executives can operate effectively and successfully and accomplish their organizational objectives. Now a classic among economics texts, this book contains the essential know-how for managers in both profit and not-for-profit sectors.
Author: Dominic Barton
Publisher: John Wiley & Sons
ISBN: 0471429732
Category : Business & Economics
Languages : en
Pages : 323
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Book Description
A corporate guide to crisis management in volatile financial markets Current financial crises in Argentina, Japan, and Turkey are being played out on the front pages of newspapers, and these are just the most recent financial crises that have rolled across the globe in the last decade and whose far-reaching impact hurts business around the world. Dangerous Markets: Managing in Financial Crises recognizes that no global corporation or financial institution can afford to ignore the potential of a financial storm and will help top management and financial professionals navigate through this often disastrous maze. While many books discuss financial crises and their ramifications, none has presented an action plan for managing these storms—until now. Dangerous Markets: Managing in Financial Crises presents a method that allows executives and financial professionals to recognize the warning signs of a financial crisis and act appropriately before the situation spirals out of control. Based on years of research and practice in cleaning up the mess, McKinsey consultants Barton, Newell, and Wilson reveal the warning signs of potential financial catastrophes and provide unique principles that can be followed to shape and manage a strategy for survival.
Author: Tom Kendrick
Publisher: AMACOM
ISBN: 0814413412
Category : Business & Economics
Languages : en
Pages : 370
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Book Description
Winner of the Project Management Institute’s David I. Cleland Project Management Literature Award 2010 It’s no wonder that project managers spend so much time focusing their attention on risk identification. Important projects tend to be time constrained, pose huge technical challenges, and suffer from a lack of adequate resources. Identifying and Managing Project Risk, now updated and consistent with the very latest Project Management Body of Knowledge (PMBOK)® Guide, takes readers through every phase of a project, showing them how to consider the possible risks involved at every point in the process. Drawing on real-world situations and hundreds of examples, the book outlines proven methods, demonstrating key ideas for project risk planning and showing how to use high-level risk assessment tools. Analyzing aspects such as available resources, project scope, and scheduling, this new edition also explores the growing area of Enterprise Risk Management. Comprehensive and completely up-to-date, this book helps readers determine risk factors thoroughly and decisively...before a project gets derailed.
