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Project Complexity
Project complexity is the property of a project which makes it difficult to understand, foresee, and keep under control its overall behavior, even when given reasonably complete information about the project system. With a lens of systems thinking, project complexity can be defined as an intricate arrangement of the varied interrelated parts in which the elements can change and evolve constantly with an effect on the project objectives. The identification of complex projects is specifically important to multi-project engineering environments. The domain was introduced by D. Baccarini in 1996. Types of complexity Complexity can be: * Structural complexity (also known as detail complexity, or complicatedness), i.e. consisting of many varied interrelated parts. It is typically expressed in terms of size, variety, and interdependence of project components, and described by technological and organizational factors. * Dynamic complexity, which refers to phenomena, characteristics, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Antifragility
Antifragility is a property of systems in which they increase in capability to thrive as a result of stressors, shocks, volatility, noise, mistakes, faults, attacks, or failures. The concept was developed by Nassim Nicholas Taleb in his book, '' Antifragile'', and in technical papers., As Taleb explains in his book, antifragility is fundamentally different from the concepts of resiliency (i.e. the ability to recover from failure) and robustness (that is, the ability to resist failure). The concept has been applied in risk analysis, physics,Naji, A., Ghodrat, M., Komaie-Moghaddam, H., & Podgornik, R. (2014)Asymmetric Coulomb fluids at randomly charged dielectric interfaces: Anti-fragility, overcharging and charge inversion J. Chem. Phys. 141 174704. molecular biology, transportation planning,Levin, J. S., Brodfuehrer, S. P., & Kroshl, W. M. (2014, March)Detecting antifragile decisions and models lessons from a conceptual analysis model of Service Life Extension of aging vehicles In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Management
Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget. The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives. The objective of project management is to produce a complete project which complies with the client's objectives. In many cases, the objective of project management is also to shape or reform the client's brief to feasibly address the client's objectives. Once the client's objectives are clearly established, they should influence all decisions made by other people involved in the project – for example, project managers, designers, contractors, and subcontractors. Ill-defined or too tightly prescribed project management objectives are detrimental to decision-maki ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nassim Nicholas Taleb
Nassim Nicholas Taleb (; alternatively ''Nessim ''or'' Nissim''; born 12 September 1960) is a Lebanese-American essayist, mathematical statistician, former option trader, risk analyst, and aphorist whose work concerns problems of randomness, probability, and uncertainty. ''The Sunday Times'' called his 2007 book '' The Black Swan'' one of the 12 most influential books since World War II. Taleb is the author of the ''Incerto'', a five-volume philosophical essay on uncertainty published between 2001 and 2018 (of which the best-known books are ''The Black Swan'' and ''Antifragile''). He has been a professor at several universities, serving as a Distinguished Professor of Risk Engineering at the New York University Tandon School of Engineering since September 2008. He has been co-editor-in-chief of the academic journal ''Risk and Decision Analysis'' since September 2014. He has also been a practitioner of mathematical finance, a hedge fund manager, and a derivatives trader, and i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vulnerability Management
Vulnerability management is the "cyclical practice of identifying, classifying, prioritizing, remediating, and mitigating" software vulnerabilities. Vulnerability management is integral to computer security and network security, and must not be confused with vulnerability assessment. Vulnerabilities can be discovered with a vulnerability scanner, which analyzes a computer system in search of known vulnerabilities,Anna-Maija Juuso and Ari Takanen ''Unknown Vulnerability Management'', Codenomicon whitepaper, October 201 such as open ports, insecure software configurations, and susceptibility to malware infections. They may also be identified by consulting public sources, such as NVD, or subscribing to a commercial vulnerability alerting service such as Symantec's DeepSight Vulnerability Datafeed or Accenture's Vulnerability Intelligence Service. Unknown vulnerabilities, such as a zero-day, may be found with fuzz testing. Fuzzy testing can identify certain kinds of vulnerabiliti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Antifragility
Antifragility is a property of systems in which they increase in capability to thrive as a result of stressors, shocks, volatility, noise, mistakes, faults, attacks, or failures. The concept was developed by Nassim Nicholas Taleb in his book, '' Antifragile'', and in technical papers., As Taleb explains in his book, antifragility is fundamentally different from the concepts of resiliency (i.e. the ability to recover from failure) and robustness (that is, the ability to resist failure). The concept has been applied in risk analysis, physics,Naji, A., Ghodrat, M., Komaie-Moghaddam, H., & Podgornik, R. (2014)Asymmetric Coulomb fluids at randomly charged dielectric interfaces: Anti-fragility, overcharging and charge inversion J. Chem. Phys. 141 174704. molecular biology, transportation planning,Levin, J. S., Brodfuehrer, S. P., & Kroshl, W. M. (2014, March)Detecting antifragile decisions and models lessons from a conceptual analysis model of Service Life Extension of aging vehicles In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Opportunity Management
Opportunity management (OM) has been defined as "a process to identify business and community development opportunities that could be implemented to sustain or improve the local economy". Opportunity management is a collaborative approach for economic and business development. The process focuses on tangible outcomes. Opportunity management may result in interesting and motivating projects that help improve teamwork. Its three components are #generating ideas, #recognizing opportunities, and #driving opportunities. Risk Risk management can be described as the process of proactively working with stakeholders to minimise the risks and maximise the opportunity associated with project decisions. Risks are about the possibility of an adverse consequence. Good risk management does not have to be expensive or time consuming but relies on adaptability in response to change. Risk management ensures that an organization identifies and understands the risks to which it is exposed. Or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cynefin Framework
The Cynefin framework ( ) is a conceptual framework used to aid decision-making. Created in 1999 by Dave Snowden when he worked for IBM Global Services, it has been described as a " sense-making device". ''Cynefin'' is a Welsh word for ''habitat''. Cynefin offers five decision-making contexts or "domains"—''clear'' (known as ''simple'' until 2014, then ''obvious'' until being recently renamed), ''complicated'', ''complex'', ''chaotic'', and ''confusion''—that help managers to identify how they perceive situations and make sense of their own and other people's behaviour. The framework draws on research into systems theory, complexity theory, network theory and learning theories. Background Terminology The idea of the Cynefin framework is that it offers decision-makers a "sense of place" from which to view their perceptions. ''Cynefin'' is a Welsh word meaning ''habitat'', ''haunt'', ''acquainted'', ''familiar''. Snowden uses the term to refer to the idea that we all have c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Complexity
Complexity characterises the behaviour of a system or model whose components interaction, interact in multiple ways and follow local rules, leading to nonlinearity, randomness, collective dynamics, hierarchy, and emergence. The term is generally used to characterize something with many parts where those parts interact with each other in multiple ways, culminating in a higher order of emergence greater than the sum of its parts. The study of these complex linkages at various scales is the main goal of complex systems theory. The intuitive criterion of complexity can be formulated as follows: a system would be more complex if more parts could be distinguished, and if more connections between them existed. Science takes a number of approaches to characterizing complexity; Zayed ''et al.'' reflect many of these. Neil F. Johnson, Neil Johnson states that "even among scientists, there is no unique definition of complexity – and the scientific notion has traditionally been conveyed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Variety (cybernetics)
In cybernetics, the term variety denotes the total number of distinguishable elements of a set, most often the set of states, inputs, or outputs of a finite-state machine or transformation, or the binary logarithm of the same quantity. Variety is used in cybernetics as an information theory that is easily related to deterministic finite automata, and less formally as a conceptual tool for thinking about organization, regulation, and stability. It is an early theory of complexity in automata, complex systems, and operations research. Overview The term "variety" was introduced by W. Ross Ashby to extend his analysis of machines to their set of possible behaviors. Ashby says: The word variety, in relation to a set of distinguishable elements, will be used to mean either (i) the number of distinct elements, or (ii) the logarithm to the base 2 of the number, the context indicating the sense used. In the second case, variety is measured in bits. For example, a machine with s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
