Business Transformation Requires Transformational Leaders
Leadership and teaming skills are front and center in times of rapid change. Meet today’s constant disruption head on with expert guidance in leadership, business strategy, transformation, and innovation. Whether the disruption du jour is a digitally-driven upending of traditional business models, the pandemic-driven end to business as usual, or the change-driven challenge of staffing that meets your transformation plans—you’ll be prepared with cutting edge techniques and expert knowledge that enable strategic leadership.
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The COVID-19 pandemic has posed unprecedented challenges to businesses across all sectors and throughout the world. Risk management systems and contingency measures have been put to the test, and as is so often seen in moments of crisis, many have been found wanting. The result? A real need now exists to determine what is meant by business resilience and how to apply it to organizations’ different operating models.
Cutter Consortium Senior Consultant Barry M. O’Reilly introduces the concept of residuality theory and its application to the complex relationships that exist between different risks in the modern business environment. Expanding on the issues of complexity versus complication in the world of enterprise software, O’Reilly shows how the principle of residuality enables organizations to anticipate the impact of chains of interconnected risks.
Noah Barsky explores some key shifts in mindset that effective risk management will require, such as making risk management the responsibility of all, avoiding silos, looking at issues that are important but not urgent, and building a culture that can ask, “Why?” Barsky focuses on the need to not only connect the dots between different risk areas, but also between risk management and other corporate planning and monitoring activities.
Payson Hall explores the general context of risk management, noting the conflict between efficiency and resilience in organizations employing Lean practices to reduce their costs at the expense of robust risk management. Such approaches may beat the odds in the short term but lead to dangerous exposure when times are hard, as has been observed during the current global pandemic. Hall discusses ways in which a modest investment can provide vital hedging against catastrophe.
Cutter Consortium Fellow Bob Charette explores the current state of risk management in a world of repeated failures to adopt the lessons of the past, examining several of the most common ways in which risk management is failing and the reasons why. In his analysis, different areas of risk form a broader “risk ecology,” in which risks interact in complex ways, and isolated analysis and management of each area has the potential to increase risk in unforeseen ways.
In the second installment of their webinar series, “Using AI/Machine Learning to Manage Risk,” Cutter Senior Consultants Michael Eiden, Craig Wylie, and Tom Teixeira answered some questions about new risk models that utilize artificial intelligence (AI) and machine learning (ML) to understand and respond to the changing business landscape.
To tackle the high and unpredictable demand volatility, lean production is not enough. Instead, manufacturing companies must improve responsiveness or, in other words, become Agile. In this Advisor, we focus on the production unit.
Project schedule risk management using modeling and simulation tools and techniques is a tried and proven best practice in organizations and industries that strive to do more with less. However, there are some challenges associated with this methodology, and the intent of this Executive Update is to help those who strive for excellence in project management of complex projects to see how proactive risk management can be done successfully.