Too often, individuals align themselves with a particular statistic or data point as though it infallibly supported their position. In these instances, raw data is assigned meaning absent context from the surrounding environment and possibly in spite of flaws and biases in its collection. While the assignment of meaning to a particular data point may serve one’s immediate purpose, it often leads to erroneous conclusions and may result in undesirable outcomes.
https://www.strategydriven.com/wp-content/uploads/DataPoint.jpg282425Nathan Iveshttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngNathan Ives2013-07-23 06:38:422018-10-20 13:56:45Evaluation and Control Program Warning Flag 3 – Using Data as Information
https://www.strategydriven.com/wp-content/uploads/DataRelationships.jpg300400Nathan Iveshttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngNathan Ives2013-07-16 06:52:082018-10-20 13:48:54Evaluation and Control Program Best Practice 6 – Identify Data Relationships
StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website. Episode 45 – Marketing & Sales: Closing the Value Gap examines the evolution of the […]
StrategyDriven is proud to announce the launch of a risk management resource forum; providing innovative thought leadership and collaboration opportunities to help leaders effectively address their most pressing operational risks. After seeing the devastation from the Texas fertilizer plant and Louisiana chemical plant explosions, StrategyDriven wanted to help industrial and utility leaders better […]
Major projects typically add significant operational, financial, reputational, and regulatory risk to an organization’s overall risk profile. This project risk may by itself exceed the normal level of organizational risk leaders are accustomed to dealing with. Consequently, these strategic projects demand the implementation of risk identification, monitoring, mitigation, and control activities. These risk management activities, however, are often unaccounted for in the project’s budget and instead draw resources away from the organization’s other risk management efforts; diminishing the business’s overall ability to effectively manage its other risks.
All organizations face a host of risks incurred during the conduct of day-to-day business operations and stakeholder interactions. These risks challenge executives and managers in so far as they can have consequentially negative impacts on the organization’s ongoing sustainability from an operational, financial, reputational, and regulatory perspective. Risk = Probability of an adverse event’s occurrence […]
All organizations face a host of risks incurred during the conduct of day-to-day business operations and stakeholder interactions. These risks challenge executives and managers in so far as they can have consequentially negative impacts on the organization’s ongoing sustainability from an operational, financial, reputational, and regulatory perspective. Risk = Probability of an adverse event’s occurrence […]
Each organization faces a unique set of risks challenging the continuity of its operations. All risks, however, are not equal. In order for an organization’s leaders to economically manage their business’s risks, they must first understand each risk’s inherent and residual value. Failure to quantify the organization’s risks produces a less meaningful set of potentially adverse events; lacking relevance, priority, and return on investment information and often resulting in the application of either too many or too few resources applied to address these challenges.
Managers are more comfortable having bloated staffs rather than either an understaffed organization or one with a staffing level demanding cutting edge efficiency in order to get the work done.
https://www.strategydriven.com/wp-content/uploads/iStock_000002107775XSmall.jpg282425Nathan Iveshttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngNathan Ives2013-06-25 06:49:052019-05-01 17:26:24Resource Management – High overtime? You may have too many people already!
When examining organizational performance, assessors too often fall into the trap of concluding that the absence of adverse outcomes indicates a lack of underlying performance issues. This is an evidential fallacy. Many organizational shortfalls exist without causing consequential outcomes for reasons of redundant barrier prevention, lack of recognition, or simply blind dumb luck. The lack of a noticeable consequence does not necessarily equate to an absence of an issue; it simply means that the problem itself, up until the point of examination, has not manifested itself in a substantial outcome.
https://www.strategydriven.com/wp-content/uploads/iStock_000024343600XSmall.jpg282425Nathan Iveshttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngNathan Ives2013-06-18 06:40:092018-10-20 13:52:51Evaluation and Control Warning Flag 2 – Absence of Evidence as Evidence of Absence
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Evaluation and Control Program Warning Flag 3 – Using Data as Information
/in Evaluation & Control Program, Premium/by Nathan IvesToo often, individuals align themselves with a particular statistic or data point as though it infallibly supported their position. In these instances, raw data is assigned meaning absent context from the surrounding environment and possibly in spite of flaws and biases in its collection. While the assignment of meaning to a particular data point may serve one’s immediate purpose, it often leads to erroneous conclusions and may result in undesirable outcomes.
Evaluation and Control Program Best Practice 6 – Identify Data Relationships
/in Evaluation & Control Program, Premium/by Nathan IvesQuality information supports effective decision-making. Data by itself, however, is not information.
StrategyDriven Podcast Episode 45 – Marketing & Sales: Closing the Value Gap
/in Marketing & Sales, StrategyDriven Podcast/by Nathan IvesStrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website. Episode 45 – Marketing & Sales: Closing the Value Gap examines the evolution of the […]
Podcast: Play in new window | Download (Duration: 27:52 — 38.5MB)
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StrategyDriven Launches Operational Risk Management Resource Forum
/in Announcements, Risk Management/by Nathan IvesStrategyDriven is proud to announce the launch of a risk management resource forum; providing innovative thought leadership and collaboration opportunities to help leaders effectively address their most pressing operational risks. After seeing the devastation from the Texas fertilizer plant and Louisiana chemical plant explosions, StrategyDriven wanted to help industrial and utility leaders better […]
Risk Management Warning Flag 1 – Unadjusted Resourcing of Risk Monitoring Activities
/in Premium, Risk Management/by Nathan IvesMajor projects typically add significant operational, financial, reputational, and regulatory risk to an organization’s overall risk profile. This project risk may by itself exceed the normal level of organizational risk leaders are accustomed to dealing with. Consequently, these strategic projects demand the implementation of risk identification, monitoring, mitigation, and control activities. These risk management activities, however, are often unaccounted for in the project’s budget and instead draw resources away from the organization’s other risk management efforts; diminishing the business’s overall ability to effectively manage its other risks.
StrategyDriven Risk Management Forum
/in Risk Management/by StrategyDrivenAll organizations face a host of risks incurred during the conduct of day-to-day business operations and stakeholder interactions. These risks challenge executives and managers in so far as they can have consequentially negative impacts on the organization’s ongoing sustainability from an operational, financial, reputational, and regulatory perspective. Risk = Probability of an adverse event’s occurrence […]
StrategyDriven Risk Management Forum
/in Risk Management/by StrategyDrivenAll organizations face a host of risks incurred during the conduct of day-to-day business operations and stakeholder interactions. These risks challenge executives and managers in so far as they can have consequentially negative impacts on the organization’s ongoing sustainability from an operational, financial, reputational, and regulatory perspective. Risk = Probability of an adverse event’s occurrence […]
Risk Management Best Practice 4 – Risk Quantification
/in Premium, Risk Management/by Nathan IvesEach organization faces a unique set of risks challenging the continuity of its operations. All risks, however, are not equal. In order for an organization’s leaders to economically manage their business’s risks, they must first understand each risk’s inherent and residual value. Failure to quantify the organization’s risks produces a less meaningful set of potentially adverse events; lacking relevance, priority, and return on investment information and often resulting in the application of either too many or too few resources applied to address these challenges.
Resource Management – High overtime? You may have too many people already!
/in Premium, Resource Management/by Nathan IvesManagers are more comfortable having bloated staffs rather than either an understaffed organization or one with a staffing level demanding cutting edge efficiency in order to get the work done.
Evaluation and Control Warning Flag 2 – Absence of Evidence as Evidence of Absence
/in Evaluation & Control Program, Premium/by Nathan IvesWhen examining organizational performance, assessors too often fall into the trap of concluding that the absence of adverse outcomes indicates a lack of underlying performance issues. This is an evidential fallacy. Many organizational shortfalls exist without causing consequential outcomes for reasons of redundant barrier prevention, lack of recognition, or simply blind dumb luck. The lack of a noticeable consequence does not necessarily equate to an absence of an issue; it simply means that the problem itself, up until the point of examination, has not manifested itself in a substantial outcome.