Undaunted in Uncertain Times

Andy Jordan is President of Roffensian Consulting S.A., a Roatan, Honduras-based management consulting firm with a comprehensive project management practice. Andy always appreciates feedback and discussion on the issues raised in his articles and can be reached at [email protected]. Andy's new book Risk Management for Project Driven Organizations is now available.

  Decision Making   Innovation   Risk Management   Strategy  

Over the last three years or so my conversations with executives have often centered around uncertainty. The uncertainty created by the pandemic and the rapid and fundamental changes that brought to operating models. The uncertainty of supply chain disruption that was a direct consequence of the pandemic and that remains highly impactful in many industries. The uncertainty created by conflict that is stretching to more regions and industries than at first expected. And the uncertainty of economic turmoil that is likely to continue having an impact for some time.

Many of those executives are now shifting their approaches from one of waiting out the uncertainty that is impacting them to one of managing through it – striving to deliver strategic performance despite the lack of stability in their operating environments. Of course, a number of those executives talk about “embracing uncertainty” but that is usually nothing more than hyperbole – especially after the CFO gets involved!

But what does that really mean? What are the practical elements of managing through uncertainty? Traditional models would suggest that (organizations should pursue one of three strategies:

• Seek to control the uncertainty, or at least tilt the scales in their favor
• Commit to a flexible approach that allows for adjustments
• Wait things out until things become more …

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