Join us 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 Christian University. The talk will stream live on YouTube. Please register using the form below to receive the link to the livestream.
Registration for this event has closed as the event has passed. Watch the video below:
About the talk: “Uncertainty and risk make meeting goals and delivering anticipated value extremely challenging in complex projects. Conventional techniques for planning and tracking earned value do not account for uncertainty and risk. I present a methodology for planning and tracking cost, schedule, and technical performance (or quality) in terms of a project’s key value attributes and threats to them. The methodology distinguishes four types of value and two general types of risks. A “high jumper” analogy helps to consider how high the “bar” is set for a project (its set goals) and therefore how challenging 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 (VaR). By understanding the amounts of value, risk, and opportunity in a project, project managers can design it for appropriate levels of each. Project progress occurs through reductions in its VaR: activities “add value” by chipping away at the project’s “anti-value,” the risks that threaten value. This perspective on project management incentivizes the generation of results that eliminate threats to value, rather than assuming that value exists until proven otherwise.”
About the speaker: Dr. Tyson Browning is an 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 research on managing complex projects (integrating managerial and engineering perspectives) and taught MBA courses on project management, operations management, risk management, and process improvement. He has previous work experience with Lockheed Martin and the Lean Aerospace Initiative. He earned two Master’s degrees and a Ph.D. from the Massachusetts Institute of Technology. His research results appear in over 100 publications, many in top-tier 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 Journal of Operations Management. He has trained and advised several organizations, including BNSF Railway, General Motors, Lockheed Martin, Northrop Grumman, Seagate, Siemens, Southern California Edison, and the U.S. Navy.
About the series
Sponsored by the System Design & Management program at the Massachusetts Institute of Technology, the MIT SDM Systems Thinking Webinar Series features research conducted by SDM faculty, alumni, students, and industry partners. The series is designed to disseminate information on how to employ systems thinking to address engineering, management, and socio-political components of complex challenges.