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CATEGORIES:Conferences/Seminars/Lectures
DESCRIPTION:Join MIT System Design and Management online on Tuesday\, April
  13 for a free systems thinking webinar with Dr. Tyson Browning\, Professor
  of Operations Management in the Neeley School of Business at Texas Christi
 an University. The talk will stream live on YouTube. \n\nAbout the talk: “U
 ncertainty and risk make meeting goals and delivering anticipated value ext
 remely challenging in complex projects.  Conventional techniques for planni
 ng and tracking earned value do not account for uncertainty and risk.  I pr
 esent a methodology for planning and tracking cost\, schedule\, and technic
 al performance (or quality) in terms of a project’s key value attributes an
 d threats to them. The methodology distinguishes four types of value and tw
 o general types of risks.  A “high jumper” analogy helps to consider how hi
 gh the “bar” is set for a project (its set goals) and therefore how challen
 ging and risky it will be. A project’s capabilities as a “jumper” (to clear
  the bar and meet its goals) determine the portion of its value at risk (Va
 R). By understanding the amounts of value\, risk\, and opportunity in a pro
 ject\, project managers can design it for appropriate levels of each. Proje
 ct progress occurs through reductions in its VaR:  activities “add value” b
 y chipping away at the project’s “anti-value\,” the risks that threaten val
 ue. This perspective on project management incentivizes the generation of r
 esults that eliminate threats to value\, rather than assuming that value ex
 ists until proven otherwise.”\n\nAbout the speaker: Dr. Tyson Browning is a
 n internationally recognized researcher\, educator\, and consultant.  He is
  a full Professor of Operations Management in the Neeley School of Business
  at Texas Christian University\, where for 18 years he has conducted resear
 ch on managing complex projects (integrating managerial and engineering per
 spectives) and taught MBA courses on project management\, operations manage
 ment\, risk management\, and process improvement.  He has previous work exp
 erience with Lockheed Martin and the Lean Aerospace Initiative. He earned t
 wo Master’s degrees and a Ph.D. from the Massachusetts Institute of Technol
 ogy. His research results appear in over 100 publications\, many in top-tie
 r journals\, and he has given over 200 academic and industry presentations 
 and workshops in 17 countries. He is currently co-Editor-in-Chief of the Jo
 urnal of Operations Management. He has trained and advised several organiza
 tions\, including BNSF Railway\, General Motors\, Lockheed Martin\, Northro
 p Grumman\, Seagate\, Siemens\, Southern California Edison\, and the U.S. N
 avy.\n\nAbout the series\n\nSponsored by the System Design & Management pro
 gram at the Massachusetts Institute of Technology\, the MIT SDM Systems Thi
 nking Webinar Series features research conducted by SDM faculty\, alumni\, 
 students\, and industry partners. The series is designed to disseminate inf
 ormation on how to employ systems thinking to address engineering\, managem
 ent\, and socio-political components of complex challenges.
DTEND:20210413T170000Z
DTSTAMP:20260420T213442Z
DTSTART:20210413T160000Z
LOCATION:
SEQUENCE:0
SUMMARY:Systems Thinking Webinar: “Planning\, Tracking\, and Reducing a Com
 plex Project’s Value at Risk”
UID:tag:localist.com\,2008:EventInstance_36281129950019
URL:https://calendar.mit.edu/event/systems_thinking_webinar_planning_tracki
 ng_and_reducing_a_complex_projects_value_at_risk
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