Project framing is an important value improving practice. This case describes how project framing was conducted for a large resource project. Exploring the strategic options, and their associated risks, allowed the project team to concentrate its efforts on those aspects of the pre-feasibility study where strategic decisions were required and where reducing uncertainty would best contribute to those decisions.
Creating value from uncertainty
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RiskNZ, formerly the New Zealand Society for Risk Management, will be holding its conference in Wellington NZ on 17-18 August 2017. The conference title is Repositioning Risk Management. Dr Dale Cooper will be presenting a keynote address on 'Governance, leadership and enterprise risk management' on 17 August, and chairing a conference wrap-up session on 18 August.
Complexity is mentioned in professional discussions from astrophysics to zoology. There is a sense that previous generations led a simpler existence and did not have to deal with it. Understanding whether this is true or not can help to put into perspective present day efforts to handle complexity. A complete history of complexity and efforts to cope with it would be an enormous undertaking but useful insights can be gained from an interesting paper written almost sixty years ago. In language that would not seem out of place today, Charles E. Lindblom described the dilemma of addressing systems with no ordered cause-effect relationships using methods based on systems that do have ordered cause-effect relationships. The challenges he described still exist but there are now ways to address complexity directly rather than try to fight against it or pretend it does not exist.