On Risk (in the non-financial sense)


Gary Gensler said this recently in his written testimony:

And that struck me, I thought it elegant. I googled that and it doesn’t come up as a widely used aphorism, but that doesn’t matter to me because I can just agree with the saying. You see, I’ve adopted a different saying, in technology:

“Every change is a risk, and every risk is a cost.” – me

Well, now you have the opposite side of the coin: the longer a change is not made, the more risk you incur, because waiting on making the change is also risk, if time=risk. So that mentally completes the picture for me: you balance two risks, that of a delay, and that of implementing.  Minimizing total risk (of the implementation) should drive the decision to do or not so something, and when and also how.

That’s all I really wanted to share on this specific aphorism.

OKR = objective and key result

Objectives and key results (OKR) is a goal-setting framework for defining and tracking objectives and their outcomes.

The development of OKRs is generally attributed to Andy Grove, the “Father of OKRs”, who introduced the approach to Intel during his tenure there and documented this in his 1983 book High Output Management.[1] Grove’s simple but effective concept is explained by John Doerr: “The key result has to be measurable. But at the end you can look, and without any arguments: Did I do that or did I not do it? Yes? No? Simple. No judgments in it”.[2]

From: https://en.wikipedia.org/wiki/OKR

Cone of Uncertainty

In project management, the Cone of Uncertainty describes the evolution of the amount of best case uncertainty during a project (Construx n.d.). At the beginning of a project, comparatively little is known about the product or work results, and so estimates are subject to large uncertainty. As more research and development is done, more information is learned about the project, and the uncertainty then tends to decrease, reaching 0% when all residual risk has been terminated or transferred. This usually happens by the end of the project i.e. by transferring the responsibilities to a separate maintenance group.

From: https://en.wikipedia.org/wiki/Cone_of_Uncertainty

 

The days of the week

Let me talk about the days of the week for you.
  • Monday: must go to gym; plan for the week
  • Tuesday: most productive day at work. should go to gym. should socialize sober
  • Wednesday: most productive day at work. should go to gym. should socialize sober
  • Thursday: work from home. should socialize! should go to gym
  • Friday: work from office. go out at night. no gym.
  • Saturday: go out if you can. have a productive day. shopping. errands.
  • Sunday: no drinking! prepare for the week ahead.

Belief

I’m a highly technical person and science plays a big role in my life and work, and it’s perhaps surprizing that I mention faith – but it’s true, faith has a place in my definition of personal corporate culture.

You have to do the best you can. You have to be on top of your game, at all times (and especially at crunch time or competition time). And remember the split-second rule: you only have a splitsecond to make a decision, and every mistake can make or break a task.

Continue reading “Belief”