Entries Tagged 'project Management' ↓

May 10, 2011 08:00 AM Eastern Daylight Time 

REDWOOD SHORES, Calif. & WOODSIDE, Calif.–(BUSINESS WIRE)–Saba (NASDAQ:SABA), the premier people cloud provider, today announced its strategic alliance with Management Innovation eXchange (MIX), a community of progressive management innovators architected by Gary Hamel and supported by thought leaders from leading academic institutions including Harvard Business School, Stanford University, University of California Berkeley, and the London Business School as well as business leaders from organizations such as McKinsey & Company, HCL Technologies, Dell, and the Human Capital Institute.

“Saba’s mission to provide solutions that enable enterprises to power up their people to boost performance and drive results aligns well with the MIX’s goal to reinvent the way enterprises organize resources to productive ends”

the MIX is an open innovation project aimed at reinventing management for the 21st century. It is founded on the belief that to thrive in the 21st century, organizations must be adaptable, innovative, inspiring and socially accountable, which require a genuine revolution in management principles and practices. Saba whole-heartedly embraces the MIX’s revolutionary vision for the future of management and is proud to collaborate with MIX to accelerate the pace of management innovation by powering its collaborative platform.

as a part of this alliance, Saba’s People Cloud applications will power the MIX platform with collaboration, ideation and conversation capabilities amongst the community of thought leaders and experts dedicated to revolutionizing management principles and practices. as a partner and active participant in the MIX community, Saba will be able to exchange and gain insight into new management ideas and approaches that could better enable the company and its global customer base of 1,400 enterprises and 19 million users to implement leading-edge ideas and practices.

Supporting Quotes:

“Saba’s mission to provide solutions that enable enterprises to power up their people to boost performance and drive results aligns well with the MIX’s goal to reinvent the way enterprises organize resources to productive ends,” stated Bobby Yazdani, chairman and CEO of Saba. “We look forward to joining Gary and other world-renowned experts to share best practices and innovate management methods that help organizations be more effective.”

“Traditional hierarchical management structures inhibit creativity, collaboration and progress,” said Gary Hamel, founding member and architect of the MIX. “The MIX is a platform where trailblazers come to tackle these issues in order to create organizations that are inventive, adaptable and engaging. Saba’s passion for enabling people-driven enterprises makes it a perfect partner for the MIX.”

Supporting Resources:

• Join the MIX: managementexchange.com/
• View Saba products: saba.com/saba-people-systems/
• Follow the Saba blog: saba.com/blogs/
• Follow Saba on Twitter: @SabaSoftware

About Saba

Saba (NASDAQ:SABA) provides a new class of people systems that combine enterprise learning, people management, and collaboration technologies. Today’s people-driven enterprises are using Saba’s solutions to mobilize and engage people around new strategies and initiatives, align and connect people to accelerate the flow of business, and cultivate, capture, and share individual and collective knowhow to effectively compete and succeed.

Saba’s premier customer base includes major global organizations and industry leaders in financial services, life sciences and healthcare, high tech, automotive and manufacturing, retail, energy and utilities, packaged goods, and public sector organizations. Saba’s solutions are underpinned by global services capabilities and partnerships encompassing strategic consulting, comprehensive implementation services, and ongoing worldwide support.

Headquartered in Redwood Shores, California, Saba has offices on five continents. for more information, please visit saba.com or call +1-877-SABA-101 or +1-650-779-2791.

SABA, the Saba logo, Saba Centra, and the marks relating to Saba products and services referenced herein are either trademarks or registered trademarks of Saba Software, inc. or its affiliates. All other trademarks are the property of their respective owners.

About the MIX

the Management Innovation eXchange (MIX) is based on the premise that management is nothing less than the technology of human accomplishment. but after 100 years of incremental tweaks, it now needs to be reinvented for a new age. Designed as a collaborative platform, the MIX brings together CEOs, academics, and management experts with executives and managers — indeed, anyone with ideas on how to make management better suited to cope with the 21st century, organizations that are as resilient, inventive and inspiring as the people who work within them.

About Gary Hamel

Gary Hamel is Visiting Professor of Strategic and International Management at the London Business School and Director of the Management Lab. he is also the Innovation Architect at the MIX, where he oversees the site’s strategic direction.

Hamel’s landmark books, Leading the Revolution and Competing for the Future, have appeared on every management bestseller list and have been translated into more than 20 languages. His latest book, The Future of Management, was published by the Harvard Business School Press in October 2007 and was selected by Amazon.com as the best business book of the year. The Wall Street Journal recently ranked him as the world’s most influential business thinker, and Fortune magazine has called him “the world’s leading expert on business strategy.”

Over the past twenty years, Hamel has authored 15 articles for the Harvard Business Review and is the most reprinted author in the Review’s history. he has also written for The Wall Street Journal, Fortune, the Financial Times and many other leading publications around the world. he speaks frequently at the world’s most prestigious management conferences, and is a regular contributor to CNBC, CNN, and other major media outlets. Hamel is a Fellow of the World Economic Forum and the Strategic Management Society.

Project Risk Management

Article by Bharat Bista

All projects are essential and every project has its own risk elements. Commencing from initiation to post completion of the project, the degree of risk grows within, as does the haze of uncertainty, thus proper project risk management can make a difference.

Risk inevitably comes with any project. it resides in the project as a contrary and hinders as an adversary. Enclosed within, the compound constraint of time, budget, workforce and multiple quantifiable and non-quantifiable determinants; a project marches towards its success and the risk factors follow until project execution.

To be precise, “risk” in a project management is the threat or possibility that an action or occurrence will unfavorably affect a project’s potentiality to achieve its objectives. any counter event and adverse causes that can become an obstacle are risk factors.

However, inside the project management line of attack is the term “risk” this term is considered as a negative component resembling an occurrence that will adversely affect the goal of the project. nevertheless, in the optimistic and neo project management approach, “risk” can be considered as a prospective occurrence or a productive event; if handled and executed properly it may lead to achieve enhanced objectives, improved and advanced.

Project risk management is the procedure of determining or evaluating risk and developing strategies to manage it, and is concerned with identifying risk and putting in place policies to eliminate or reduce these perils.

Project risk analysis is the detection and quantification of these probabilities and collisions of events that may harm the project. the risk analysis process identifies risk in advance, and the risk management process established methods of avoiding these risks thus reducing the impacts that may occur.

Risk Detection

Risk detection is an initial step in the risk management course. as these potential hazards occur causing problems in its kinetics there needs to be a plan for identification. to identify these concealed threats at their origin before their occurrences whether they are quantifiable or non-quantifiable is the foremost groundwork; this groundwork is the risk identification course of action.

Risk detection starts with tracing risk sources as a root cause, and its source branches including internal to external and primary to secondary.

Some of the most common risk detection methods in project risk management are as follows;

1. Objective Oriented Risk Detection

2. Scenario Oriented Risk Detection

3. Taxonomy Oriented Risk Detection

4. Regular Risk Inspection

Risk Evaluation in Project Risk Management

Once the risk detection process is concluded, then they must be evaluated for their latent severity for loss, and its likelihood for hazards. In project risk management, each risk should be exploited independently as they vary from simple to complex results.

Generally, plain risk can easily be quantified, while those risks of probabilities are unfeasible to enumerate; thus in the evaluation process it is significant to take a finer presumption to accurately accentuate the implementation of the risk management remedy. moreover, the primary problem in risk evaluation is lack of statistical information and scientific evidences for determining the pace of risk events that may occur.

Conversely, gauging risk is often quite a complicated process, although numerous formulae are being followed; a popular yet simple formula is;

Project Risk = Accident X (Probability X Impact)

Or

 Project Risk = Accident Probability X Accident Impact

Here, risk is directly equivalent to “probability of accident” multiplied by the “impact of accident“. In opposition, project risk management is less reliant only on the type of formula pursued, but more reliant on the risk occurrence and on how risk management is employed.

However, in general a systematic tactical plan that should be prearranged for risk management is as follows:

1. Risk: Description of the Actual Risk

2. Impact: Impact on the Project if the Risk Occurs

3. Possibility: Possibility of Loss if Risk Occurs

4. Action: Action Remedy to Reduce the Impact

5. Cost: Cost if the Risk Occurs

Once risk is identified and evaluated, there are four major practices that need to be followed to prevent a failed remedy, they are:

1. Risk Evasion: Avoidance of the Risk Altogether

2. Risk Diminution: Reducing the Degree of Risk through Precaution Measures

3. Risk Retention: Accepting the Degree of Risk with Loss

4. Risk Relocating: Transferring the Risk to Another Party

Hence, in the combat of project risk management etiquette, a precedence procedure should be tracked, whereby risks with the maximum loss and the maximum probability of evils should be handled first; vice versa to those with minimum risk.

Project risk management is the tactic of methodically applying lucrative action for diminishing the effect of hazard to the project. Risks are never fully avoidable due to exterior elements and limitation of financial and practical margins. However, with the acceptance of a certain degree of risk and the arrangements of its counter to tackle it, the risk at hand can be recompensed.

All risks can never be fully avoided or mitigated, therefore all projects have to accept some level of residual risks, but if the risk is handled with mythological and proficient approach referring to statistically and scientific information then risk rewards.

Project risk management is one single process to manipulate, exploit, and extinct risk.

about the Author

Author: Bharat Bista – Edited by Web Publicitee (Bruce Cullen)

Resource and References:Project Risk Management – IT Project Management Solutions – IT Project Management Tools