Why are only 8.5% of large projects completed on time and within budget? No matter what type of project you're involved in, whether it's home renovations or space exploration, this conversation promises a wealth of knowledge and insights. Bent Flyvbjerg is a professor at both Oxford University and the IT University of Copenhagen. He is also the author of several works, and his latest book is How Big Things Get Done: The Surprising Factors That Determine the Fate of Every Project, from Home Renovations to Space Exploration and Everything In Between. Bent and Greg delve into the influence of strategic misrepresentation on project outcomes and the often-overlooked power dynamics within organizations that wield considerable influence over a project's fate. They discuss fascinating case studies from the Sydney Opera House, Pixar's blockbusters, and Amazon's product development approach. *unSILOed Podcast is produced by University FM.*

This week’s guest on Cleaning Up is Bent Flyvbjerg. Bent is Emeritus Professor at the University of Oxford and is the most cited scholar in the world on the subject of megaprojects. Bent’s latest book, released this year, is How Big Things Get Done, on the science of successful project delivery. Michael and Bent discussed the many, substantial implications of Bent’s research for the net-zero transition, including the stark fact that solar and wind projects sit at the top of the tree when it comes to arriving on time and on budget, with nuclear languishing at the very bottom. Make sure you like, subscribe, and share Cleaning Up. We're growing fast on LinkedIn, and we'd love for you tell your professional network about us: https://www.linkedin.com/company/cleaning-up-with-michael-liebreich/ You can find everything you need to keep up with Cleaning Up here: https://linktr.ee/mlcleaningup Links and Related Episodes Bent’s latest book is How Big Things Get Done: https://www.penguinrandomhouse.com/books/672118/how-big-things-get-done-by-bent-flyvbjerg-and-dan-gardner/ Watch Episode 58 with John Redfern, CEO of Eavor: https://www.youtube.com/watch?v=MU8TDupVvjM Watch Episode 92 with Simon Morrish, CEO of Xlinks: https://www.youtube.com/watch?v=m6KIMswZkWA Watch Episode 116 with Tom Samson, former CEO of Rolls Royce SMR: https://www.youtube.com/watch?v=sjThq8c3tT4 Watch Episode 122 with Professor Sir Chris Llewellyn Smith: https://www.youtube.com/watch?v=Y1_gL_XXaQQ Guest Bio Bent is among the most cited scholars in the world on Project Management, Planning, Infrastructure and Cities. He has 30 years of experience as an adviser to government and business, including the US, UK, and Chinese governments and Fortune 500 companies. He has consulted on some of the largest projects in the world, from High-Speed 2 in the UK and the California High-Speed Rail project, each the largest civil construction project ever in their respective countries. Bent is the author or editor of 10 books and more than 200 papers, translated into 20 languages, including Megaprojects and Risk: An Anatomy of Ambition (2014) and this year’s How Big Things Get Done. He has received numerous honours and awards, among them a knighthood and two Fulbright scholarships. Bent is chairman of Oxford Global Projects, and was formerly the Academic Director of Oxford's MSc in Major Programme Management.

In this episode of The Thinking Leader Bryce Hoffman and Marcus Dimbleby talk with Bent Flyvbjerg, the world's leading megaproject expert, economic geographer, and the first BT Professor at Oxford University. They discuss the problem with big projects and small projects. They explore the ‘iterate and simulate’ process and how it can help navigate the early stages of a project. They discuss the psychology behind why we are hardwired to jump into projects without fully considering all potential risks and pitfalls. Bent explains the planning fallacy and how its concepts can impact our ability to accurately estimate the duration and cost of a project. He also goes into detail about the concept of continuity and the value of experience when it comes to managing projects. Bent, Bryce and Marcus also touch on the topic of power bias and how it can amplify cognitive bias, and discuss strategies for mitigating these biases and ensuring that projects are successful. In this episode you will learn: - How to use the iterate and simulate process to navigate the early stages of a project - Why we are hardwired to jump into projects without considering risks - The planning fallacy and how it impacts project management - How continuity and experience can give you an advantage in identifying problems and finding solutions - How power bias can amplify cognitive bias and learn strategies to mitigate it Find more information on Bent’s book, How Big Things Get Done, here: https://www.penguinrandomhouse.com/books/672118/how-big-things-get-done-by-bent-flyvbjerg-and-dan-gardner/ Want to find out if you’re a Red Team Thinker? Click here to take a free assessment and get your personalized report: https://www.redteamthinking.com/rttassessment Visit our website: https://redteamthinking.com Listen to this episode on your favourite podcast platform: https://www.redteamthinking.com/podcasts/the-thinking-leader Follow us on LinkedIn: https://www.linkedin.com/company/redteamthinking/ Connect with Bryce: https://www.linkedin.com/in/brycehoffman/ Connect with Marcus: https://www.linkedin.com/in/marcusdimbleby/ Bestselling business author Bryce Hoffman and agility expert Marcus Dimbleby talk about decision-making, strategy, resilience and leadership with some of the world’s best CEOs, cognitive scientists, writers, and thinkers in this weekly podcast. Each episode offers new ideas and insights you can use to become a better leader and a better thinker – because bad leaders react, good leaders plan, and great leaders think! #ceo #leadership #innovation

Join Professor Bent Flyvbjerg, the world’s leading megaproject expert, for a discussion on the factors that lead projects to fail, whether big or small, and the research-based principles that can make them succeed. Bent Flyvbjerg is the first BT Professor at Oxford University and the VKR Professor at the IT University of Copenhagen, an economic geographer, and “the world’s leading megaproject expert,” according to global consulting network KPMG. He has consulted on over one hundred projects costing $1 billion or more and has been knighted by the Queen of Denmark. Nobel Prize-winning author Professor Daniel Kahneman has called his work “important, timely, instructive, and entertaining”. His latest book, written with Dan Gardner, is How Big Things Get Done, which explores the successes and failures of project planning from the Sydney Opera House or the Olympics to solar farms and home renovations. The book reveals how to get any ambitious project done on time and on budget. Learn more about the webinar: https://sbi.sydney.edu.au/event/a-live-conversation-with-bent-flyvbjerg/ Read the latest on the future of business: https://sbi.sydney.edu.au/ Follow our podcasts: https://sbi.sydney.edu.au/podcasts

For FRM (Part I & Part II) video lessons, study notes, question banks, mock exams, and formula sheets covering all chapters of the FRM syllabus, click on the following link: https://analystprep.com/shop/unlimited-package-for-frm-part-i-part-ii/ *AnalystPrep is a GARP-Approved Exam Preparation Provider for FRM Exams* After completing this reading you should be able to: - Explain best practices for the collection of operational loss data and reporting of operational loss incidents, including regulatory expectations. - Explain operational risk-assessment processes and tools, including risk control self-assessments (RCSAs), likelihood assessment scales, and heatmaps. - Describe the differences among key risk indicators (KRIs), key performance indicators (KPIs), and key control Indicators (KCIs). - Describe and distinguish between the different Quantitative approaches and models used to analyze operational risk. - Estimate operational risk exposures based on the fault tree model given probability assumptions. - Describe approaches used to determine the level of operational risk capital for economic capital purposes, including their application and limitations. - Describe and explain the steps to ensure a strong level of operational resilience, and to test the operational resilience of important business services. 0:00 Introduction 1:11 What is Operational Loss Data (OLD)? 8:33 Regulatory Requirements Regarding Operational Risk Data Collection 19:50 Risk Control Self-Assessments 22:01 Severity Assessment 24:17 Likelihood Assessment 25:29 The Heatmap 27:13 Key Risk Indicators 34:14 Modeling Operational Risk 47:28 Estimating Operational Risk Capital 53:10 Ensuring Operational Resilience

2023년 (사)한국리스크관리전략연구원 창립총회 이사장 수락연설

RiskX: Risk Management for Projects on edX by the University of Adelaide Learn how to manage risk in your organization by using the best processes and procedures. Enrol now: https://www.edx.org/course/risk-management-projects-adelaidex-riskx