RISK TYPEYou cant manage it if you cant measure it
Project management expertise Knowledge
Project Management Body of (PMBOK)/ Application Area Knowledge Skills
General Management/ Project Environment Management Methodology
Work breakdown structures/ Critical path analysis/ Earned value management/ Agile Lean Kanban and Six Sigma techniques
Qualifications Prince2/ ISEB/ APM/ MSP
StandardsISO/ ANSI/ ASTM/ AGA/ MTS/ AWS ARE/ IAAR/ RABQSA
Project management expertise Methodology
Work breakdown structures
Critical path analysis
Earned value management
Agile Lean Kanban and Six Sigma techniques
Issue tracking systems (ITS)
Project Portfolio Management (PPM)
Resource management systems (RMS)
Document management system (DMS)
Work Flow Systems
PM knowledge areas
1. Project Integration Management 2. Project Scope Management 3. Project Time Management 4. Project Cost Management 5. Project Quality Management 6. Project Human Resource Management 7. Project Communications Management 8. Project Risk Management 9. Project Procurement Management 10. Project Stakeholders Management
Sarah Intense: fearful, anxious, Pessimistic, self-doubting Worried, emotional, passionate Moody, changeable, irritable, mistrustful, Hates uncertainty (presume dangerous until proved otherwise) Expects the worst Fast driving (involuntary flinching, gasping and whimpering) Flying (would buy a parachute if she could) Sudden noises, disappointment, crossing roads, or as drivers, Stressed, prone to panic, over-react, Expects NOT to be liked, presume not to be accepted All good things must come to an end
Henry Does nothing without approval Organises everything..to the very last detail Plans everything well ahead Always has a back-up plan Suspicious of anything new Dislikes change Follows all the rules Requires training and qualifications for everything Inflexible Unsettled by ambiguity Respects tradition A place for everything and everything in its place
Juliette Impulsive Challenging Spontaneous Excitement seeking Uninhibited Imaginative Easily bored Distractible Individualistic Dismissive of petty rules Embraces change Sees uncertainty as opportunity Unpredictable A rolling stone gathers no moss
Peter Composed, placid Even tempered Serene, calm Utterly imperturbable Stress tolerant Poised Tranquil Unemotional Fearless Optimistic Confident Self-assured Phlegmatic All's for the best in the best of all possible worlds
Whats in the box?
Human Factors in the Doldrums
Human Factor Risk Assessment has been:1.Based on a snap shot of attitudes 2.Varied approaches with no consensus3.Muddled and inconsistent
Content: temperament? situation? circumstances?Methodology: definitions? models? taxonomies?
1. RESEARCH & DEVELOPMENT
1. RESEARCH & DEVELOPMENT
Risk & Personality
The significance of FFM Defining the domain Consensus at last Consistent over working life Deeply rooted
- Emotional- Extravert- Agreeable- Prudent- Open-minded
Risk Elements of Personality Adventurous Apprehensive Attachment Careless Compliant Conforming Deliberate Emotional decision making Excitement seeking Focused
Forgiving Impulsive Methodical Optimistic Patient Perfectionist Reckless Resilient Sentimental Spontaneous Trusting
The Two Axes of Risk-Taking
Fear:Nervous v FearlessApprehensive v RelaxedBrittle v FlexiblePessimistic v OptimisticVulnerable v DaringStressed v Calm
Impulsivity:Prudent v CarefreeCompliant v ChallengingConsistent v UnpredictableDetailed v VaguePlanned v ImpulsiveOrganised v Approximate
Four pure Risk Types.
.plus four complex Risk Types
The Risk-Type Compass
Adjacent Risk Types blend
Facing Risk Types opposites
Central 10% Typical
Strongest at the edge
Eight Risk Types SPONTANEOUS
Uninhibited, excitable, unpredictable and distraught when things go wrong.
Enthusiastic and committed, but pessimistic and easily defeated by set-backs.
Well organised but, anxious and fearful of failure they passionately seek to control.
Cautious, self-controlled and most comfortable with continuity and familiarity.
Imperturbable, confident and systematic they are fearless and well prepared.
Calm, cool headed and optimistic they seeming oblivious to risk.
Calm and unemotional but impulsive, daring and up for any challenge.
Unconventional and excitement seeking, their imprudence makes life exciting.
Prevalence of Risk Types
2. A CRUCIAL DISTINCTION
2. A CRUCIAL DISTINCTION
Attitudes, the false lead Attitudes have causes, they are influenced
Attitudes to disability Attitudes to seat belts Attitudes to drink-driving Attitudes to financial risk
Attitudes are more effect than cause
Type, Attitude & Behaviour
Risk Type Aspect of temperament Deeply rooted Persistent Pervasive Measurable Long term prediction
Kaleidoscopic Variable Superficial Readily influenced Not measurable Unpredictable
Risk Tolerance Index (RTi)
3. RESEARCH REPORT ROAD MAP
3. SOME RESEARCH FINDINGS
Our IT Sample
Our Engineer Sample
Our Recruiter Sample
Our Auditor Sample
4. RELEVANCE & APPLICATIONS
Spheres of Application
Project Management Team Building Risk Management Compliance Underwriting
Coaching Auditor Certification Financial Advising Trader development Risk Culture
Individual Level Employment Screening Re-deployment Personal development Advising in financial services
Team/ Group Level Risky shift Risk polarisation phenomenon
Team self-awarenessand awareness of others
Team dynamics/ relationships/ communications
Team risk balance
Organisational Level The Risk-Type Compass in survey mode:
The Risk Culture (monolithic or mosaic?)
The Risk Landscape
RTi 96THE BOARD EXEC IIEXEC I
RISK & COMPLIANCE
Risk and Compliance Team
Organisational Survey Risk Map
Positive Risk Management The world needs risk takers:
Entrepreneurs Creatives Sales people Heroes Challengers of the status quo
Enron vs Kodak two ways to fail Risk Culture & Friendly Fire Manage for more risk as well as for less?
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