EPOS

It's All in the Risk Action

2009-07-29T14:49:00.003+01:00

The recent turmoil in the financial markets should have made us all aware of the need for better risk management. I suppose that the lesson that we should all take from this ghastly recession is that whilst taking risks is not necessarily a bad thing, ignoring risks always is!

The problem for most of us is that we are not particularly good a risk management: our risk appetite often exceeds our capacity to cope with the negative manifestations of risk (issues) and frequently masks the opportunities that can accompany uncertainty. What we can be reasonably sure of is that once the smoke clears, additional legislation and the pursuit of the guilty will take precedence over learning the lessons and there is a real danger is that such actions will encourage us to become so risk-averse that we stifle creativity and hamper recovery (something that the banks in the UK already stand accused of). David Hillson, in his March 2009 briefing, makes an excellent case for avoiding over-regulation and argues that corporations should embrace risk management as part of our strategic and tactical decision-making processes.

I, for one, have taken David's advice to heart. Projects are inherently risky undertakings and all project managers have a responsibility to ensure that risk management is an integral part of their project planning and control activities. Despite having extensive risk management training, I feel that I can do more to add value to my clients' ventures. Accordingly, I've begun my studies for the APM's Risk Certificates: my target date for Level 1 is November 2009 and, work and family commitments permitting, Level 2 will follow in 2010.

There's an added bonus in that my latest adventure will contribute both to my CPD hours and provides me with an excuse to indulge my passion for new books!

Keep Your Friends Close

2009-07-28T16:42:00.003+01:00

I'm having some unexpected downtime at the moment and, as usual, it's a mixed blessing. On one hand I'm conscious of the need to keep the home fires burning by moving onto my next engagement as quickly as possible, on the other, it is a welcome opportunity to catch up on some of those important non-urgent tasks that we all tend to postpone in the midst of a hectic project or assignment.

While thinking about the first of these issues, it occurred to me just how much I depend on my personal and professional networks for assignments: pretty much all of my work is either repeat business or comes by way of referral. However, networking for me isn't just about my next job, it also provides a way to maintain my professional development, exchange information and ideas with colleagues, maintain contact and friendships with people all over the world, develop new and mutually beneficial relationships and good, old fashion friendship. Clearly, networking is an essential tool for me and my business and I started to wonder if I do it well.

Enter one of those important non-urgent tasks: reading! I read a lot, particularly between assignments. However, I'm embarrassed to admit that, when I am working my reading activity diminishes and the pile of books waiting to be read grows at an alarming rate. One book that has been waiting for my attention recently is Steven D'Souza's, brilliant Networking: What the best networkers know, do and say. Usually I'm a bit leery of self-help books, but this one is a gem! Don't get me wrong, there is no eureka moment here and this is not a panacea for forsaken contact lists, but it does do what all good self-help books should do: it does your thinking for you.

D'Souza structures the concept of networking in a logical, easy to follow format covering the why, how, where and when of building a rewarding network and there are plenty of practical tips to help you avoid some of the common networking blunders and indiscretions. Moreover, this is not a tough read; five or six hours should be enough time to consume the contents of this book for all but the slowest of readers.

Two things are clear from this book; networking requires effort and persistence to perfect and it is as much about giving as taking. Having read this book, I would assess my own efforts as "OK, could do better"!

brilliant Networking: What the best networkers know, do and say (Steven D'Souza, 2008) is published by Pearson Prentice Hall.

Amazon

Waterstone's

Play.com

Pearson Education

Keep Libel Laws out of Science

2009-06-04T19:31:00.003+01:00

Simon Singh is a journalist and scientist who is under threat of a libel action by the British Chiropractic Association.

Singh stands accused of pointing out that there is little (or no) peer reviewed research that supports the BCA's claim that:

manipulating the spine could treat 95% of all diseases, because disease was supposedly caused by blockages in the flow of innate energy along the spine and through the nervous system

I'm no scientist, but it strikes me that, if someone is offering advice about your health, they have a duty to make sure that it is accurate, relevant, evidentially supported and (most important of all) beneficial.

Click on the link below to read Singh's account of the story.

What are Your Prospects for 2009?

2009-01-07T14:19:00.004Z

May I wish all of you a somewhat belated "Happy New Year" for 2009.

Although the coming year is likely to be challenging for many of us given the current economic climate, the New Year will almost certainly herald opportunities as well as the much anticipated difficulties: being alert to the possibilities in your particular markets will differentiate your organization from your competitors and can often result in a meaningful advantage in tight fiscal conditions.

Nonetheless, identifying an opportunity is only the first part of the process and many organizations fail to capitalize on otherwise excellent foresight through a lack of organizational agility. One significant constraint is expertize: with cost restraint and departmental downsizing being the "order of the day", many companies find themselves ill-equipped to take advantage of favourable situations and can even find themselves struggling to meet the day-to-day needs of the business. This is where hiring experts on short-term contracts can pay dividends.

Hiring consultants or contractors on an ad hoc basis is a cost effective way of plugging internal resource and expertize gaps as well as providing your organization with a flexible and adaptable workforce. There are also financial benefits to this type of arrangement, not least, reduced training costs, pension arrangements, vehicle and fuel considerations, etc.

It's worth bearing in mind that a poorly managed project is often just as disastrous for a company as a missed opportunity. Building a relationship with third-party organizations that provide the necessary expertize and agility to take advantage of opportunities as they present themselves is an essential investment for any organization in such times as we find ourselves.

Let's hope that 2009 is a year of opportunity for us all.

2008-11-30T20:28:00.000Z

A friend of mine is conducting some interesting research into project commissioning attitudes for his masters dissertation (another University of Aberdeen student!). I'm sure that the results of this research will be useful beyond the award of his degree and I know that once his paper is submitted, he will release the data to anyone that wants it.
You can find the survey here: and I know that he'll be grateful. Who knows, perhaps he'll post a comment to let us know how the survey is going.

Graduation

2008-11-27T09:23:00.001Z

I'm off to Aberdeen to graduate! Unfortunately, the blog page of the revamped EPOS site needs a little TLC before it's looking all that it should.

No time now, but I promise that I'll fix it before next week.

First Post

2008-11-26T17:54:00.000Z

This is my first post
It's just to make sure that everything's working OK.