Black Swans in Your Project: Understanding, Identification and Management of Extreme Unknown Unknowns

Featuring Arturas Kuliesas Lithuania Chapter - September 21, 2021

Overview

Following in the footsteps of a seminal book The Black Swan by Nicholas Nassim Taleb, I will demonstrate key failures of traditional risk management and stakeholder management practices in projects where extreme unknown unknowns are concerned. A special attention would be given to explaining how identification of Black Swans and planning the response for them is different from the traditional techniques we apply with tractable risks (known unknowns). More importantly, I will address the Project Management Principle of „Embrace Adaptability and Resiliency“ in the 7th edition of Project Management Body of Knowledge (PMBOK) as the fundamental, if not perfect, remedy to negative impacts of Black Swans that we need to apply for the benefit of the project and its stakeholders.

Learning Objectives

Following in the footsteps of a seminal book The Black Swan by Nicholas Nassim Taleb, I will demonstrate key failures of traditional risk management and stakeholder management practices in projects where extreme unknown unknowns are concerned. A special attention would be given to explaining how identification of Black Swans and planning the response for them is different from the traditional techniques we apply with tractable risks (known unknowns). More importantly, I will address the Project Management Principle of „Embrace Adaptability and Resiliency“ in the 7th edition of Project Management Body of Knowledge (PMBOK) as the fundamental, if not perfect, remedy to negative impacts of Black Swans that we need to apply for the benefit of the project and its stakeholders.

NOTE: You must watch videos in their entirety and all the way through to the end for our system to record your viewing activity accurately. Learn more about PDUs on ProjectManagement.com.

Related Content

Unlearnt Uncertainty: Why We Need to Standardize Resilience Management

by Arturas Kuliesas March 1, 2024

Acknowledgements: Heather McLarnon, CSPO

Comments (238)