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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] |
Systems Thinking
Systems thinking is a way of making sense of the complexity of the world by looking at it in terms of wholes and relationships rather than by splitting it down into its parts.Anderson, Virginia, & Johnson, Lauren (1997). ''Systems Thinking Basics: From Concepts to Causal Loops''. Waltham, Mass: Pegasus Comm., Inc. It has been used as a way of exploring and developing effective action in complex contexts, enabling systems change.Sarah York, Rea Lavi, Yehudit Judy Dori, and MaryKay OrgilApplications of Systems Thinking in STEM Education''J. Chem. Educ.'' 2019, 96, 12, 2742–2751 Publication Date:May 14, 2019 https://doi.org/10.1021/acs.jchemed.9b00261 Systems thinking draws on and contributes to systems theory and the system sciences.Systemic Thinking 10Russell L Ackoff From Mechanistic to Systemic thinking also awal street journa(2016) Systems Thinking Speech by Dr. Russell Ackoff1:10:57 History Ptolemaic system versus the Copernican system The term ''system'' is polysem ... [...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, molecular biology, transportation planning, engineering, aerospace (NASA),Jones, Kennie H. "Antifragile Systems: An Enabler for System Engineering of Elegant Systems." (2015), NASA/ref> and computer science. Taleb defines it as follows in a letter to '' Nature (journal), Nature'' responding to an earlier review of his book in that journal: Antifragile versus robust/resilient In his book, Taleb stresses the differences between antifragile and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Management
Risk management is the identification, evaluation, and prioritization of risks, followed by the minimization, monitoring, and control of the impact or probability of those risks occurring. Risks can come from various sources (i.e, Threat (security), threats) including uncertainty in Market environment, international markets, political instability, dangers of project failures (at any phase in design, development, production, or sustaining of life-cycles), legal liabilities, credit risk, accidents, Natural disaster, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root cause analysis, root-cause. Retail traders also apply risk management by using fixed percentage position sizing and risk-to-reward frameworks to avoid large drawdowns and support consistent decision-making under pressure. There are two types of events viz. Risks and Opportunities. Negative events can be classified as risks while positive events are classifi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Management
Project management is the process of supervising the work of a Project team, team to achieve all project goals within the given constraints. This information is usually described in project initiation documentation, project documentation, created at the beginning of the development process. The primary constraints are Scope (project management), scope, time and budget. The secondary challenge is to operations research, optimize the Resource allocation, allocation of necessary inputs and apply them to meet predefined 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 established, they should influence all decisions made by other people involved in the project– for example, project managers, designers, contractors and subcontractors ... [...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. His work concerns problems of randomness, probability, complexity, and uncertainty. Taleb is the author of the ''Incerto'', a five-volume work on the nature of uncertainty published between 2001 and 2018 (notably, '' The Black Swan'' and '' Antifragile''). He has taught 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 also been a practitioner of mathematical finance and is currently an adviser at Universa Investments. ''The Sunday Times'' described his 2007 book '' The Black Swan'' as one of the 12 most influential books since World War II. Taleb criticized risk management methods used by the finance industry and warned about financial crises, subsequently pr ... [...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, vendor specific security updates or subscribing to a commercial vulnerability alerting service. Unknown vulnerabilities, such as a zero-day, may be found with fuzz testing. Fuzzing is a cornerstone technique where random or semi-random input data is fed to programs to detect unexpected behavior. T ... [...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, molecular biology, transportation planning, engineering, aerospace (NASA),Jones, Kennie H. "Antifragile Systems: An Enabler for System Engineering of Elegant Systems." (2015), NASA/ref> and computer science. Taleb defines it as follows in a letter to '' Nature (journal), Nature'' responding to an earlier review of his book in that journal: Antifragile versus robust/resilient In his book, Taleb stresses the differences between antifragile and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Management
Risk management is the identification, evaluation, and prioritization of risks, followed by the minimization, monitoring, and control of the impact or probability of those risks occurring. Risks can come from various sources (i.e, Threat (security), threats) including uncertainty in Market environment, international markets, political instability, dangers of project failures (at any phase in design, development, production, or sustaining of life-cycles), legal liabilities, credit risk, accidents, Natural disaster, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root cause analysis, root-cause. Retail traders also apply risk management by using fixed percentage position sizing and risk-to-reward frameworks to avoid large drawdowns and support consistent decision-making under pressure. There are two types of events viz. Risks and Opportunities. Negative events can be classified as risks while positive events are classifi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Complexity
Complexity characterizes the behavior of a system or model whose components interact in multiple ways and follow local rules, leading to non-linearity, 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. , a number of approaches to characterizing complexity have been used in science; Zayed ''et al.'' reflect many of these. Neil Johnson states that "even among scientists, there is no unique definition of complexity – and the scientific notion has traditionally been conveyed using partic ... [...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 wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
