Author Archive: Ryan Perez

Reducing the Risk of Financial Loss through Commercial Insurance

commercialinsuredEvery business owner knows that there are many risks involved in running a business.  The cause for financial losses coming from claims or compensation in any business are just downright frustrating.  However, these risks are always present in any business setting which is why it is best for any business to be financially protected from such by investing on financial protection in the form of commercial insurance.  If ever any eventualities occur where claims are made, depending on the coverage of your commercial insurance policy, your insurer will have you covered for any claims settlement reached.

Having insurance will always be the best protection you can have on any of the risks that can be involved in a business.  There are many different policies that provide coverage to a vast amount of potential issues that may occur.  There are even policies that cater to only particular business settings with which they possess the risk of liability, property damage, or compensation within their unique business environment.  Getting to avoid the risk of financial loss by means of commercial insurance protection gives the business reduced risk management.

If you are running a business, having the financial protection of a commercial insurance is definitely your safest way of avoiding unnecessary losses.  Even if you are only a small business, you can still benefit from the protection of a commercial insurance as you reduce any risk of costly financial loss that may result in your business’ bankruptcy.  Calgary Commercial Insurance offers different types of commercial insurance.  There are commercial insurance policies available that are particularly catered for small businesses such as the Business Owner’s Policy (BOP).  This type of business insurance provides coverage on property and general liability, but only at a minimum.  Nevertheless, it still provides you with the necessary protection that may arise from such.

Getting a commercial insurance for your business can be tricky as there are certain declarations and other legal aspects involved that are required from you by the insurer.  This is essentially their way of assessing the risk they have involved in insuring you.  Having a high risk means that the premiums you need to pay are also high.  However, since insurance is more of an investment that protects your financial interests, getting it is logically the best investment you can make should any costly claims come knocking at your door.

Project Management Quotes

I have always been enamored with quotation and sayings that left me laughing for hours and could make me smile whenever I recall the said quotes.Project Management

It’s time to put a temporary lid on the serious stuff and make way to fun and very entertaining project management quotes from Stephen Seay’s blog, ProjectSteps. I have two recent posts which also tackled some of these project management quotes. These posts are Random Thoughts on Project Management and Random Thought in Project Management Part 2. In my opinion, quotes are a different way of providing us knowledge through a fun and entertaining way. Texts which could illicit a response from other people (regardless of the emotion) is something that I consider as an effective one.

Without much ado, here is another collection of project management quotes:

      Project Management Quotes

    • Quantitative project management is for predicting cost and schedule overruns well in advance.
  • Good project managers know when not to manage a project.
  • Metrics are learned men’s excuses.
  • For a project manager overruns are as certain as death and taxes.
  • If there were no problem people there’d be no need for people who solve problems.
  • Some projects finish on time in spite of project management best practices.
  • Good project managers admit mistakes: that’s why you so rarely meet a good project manager.
  • Fast – cheap – good: you can have any two.
  • There is such a thing as an unrealistic timescale.
  • The more ridiculous the deadline the more money will be wasted trying to meet it.
  • The first 90% of a project takes 90% of the time the last 10% takes the other 90%.
  • The project would not have been started if the truth had been told about the cost and timescale.
  • To estimate a project, work out how long it would take one person to do it then multiply that by the number of people on the project.
  • Never underestimate the ability of senior management to buy a bad idea and fail to buy a good idea.
  • The most successful project managers have perfected the skill of being comfortable being uncomfortable.
  • When the weight of the project paperwork equals the weight of the project itself, the project can be considered complete.
  • If it wasn’t for the ‘last minute’, nothing would get done.
  • Nothing gets done till nothing gets done.
  • Warning: dates in the calendar are closer than you think.
  • There is no such thing as scope creep, only scope gallop.
  • Anything that can be changed will be changed until there is no time left to change anything.
  • If project content is allowed to change freely the rate of change will exceed the rate of progress.
  • If you can interpret project status data in several different ways, only the most painful interpretation will be correct.
  • A project gets a year late one day at a time.
  • A project isn’t over until the fat check is cashed.
  • Powerful project managers don’t solve problems, they get rid of them.

 

Wanted: IT People with Business Skills

What makes you unique as an IT worker?IT People

In the future, this could be the common question asked by HR staff when it comes to recruiting IT staff in the future. Gone are the days wherein an IT staff needs only to focus on their IT skills. In the news article entitled Business Skills Tip Hiring Scale, it revealed the survey results of the study done by SIM (Society for Information Management).

SIM is a Chicago-based organization for IT executives. The dats from the said survey came from the interviews conducted last year. There were 96 IT managers that were interviewed from different companies. The interview results revealed the different attributes that IT managers are looking for in the years to come. These attrributes are:

  • business skills
  • project management talents
  • technical talents
  • client-facing skills

Kate Kaiser, an associate professor of IT at Marquette University in Milwaukee remarked that the survey result is not a big surprise for them because of the trend happening in the IT industry. The professor also remarked that business skills are needed in IT staff because firms are now realizing the benefits of the IT industry hence the need to further enhance such benefits. Other results of the survey are as follows:

    Additional Survey Results:

  • The total IT workforce which includes in-house staffers, contractors and full-time equivalents would show stabilityfrom 2005 to 2008
  • Organizations, especially the large ones would increase their outsourcing rate
  • The same organizations would also increase their use of domestic outsourcing firms with workers that are located offshore.
  • Programming skills would be the most outsourced function of these companies
  • The results revealed that Fortune 500 firms are hiring midlevel employees like analysts, senior systems analysts and project managers.
  • The ussue of baby boomer retirements would not be considered as a hindrance till the year 2011.

Thoughts and Insights

I think that the survey results reported in this article makes sense. This is because the trend now is evolving and in the IT industry, there is no place for the term stagnant. Everything needs to be moving and developing so that it would keep up the fast-paced change in the industry. People involved in the IT department should be aware of this fact which is also the reason why these people need to enhance their skills and grab the different opportunities for growth and development.

From “Techie” to PM? Think Again

Question: Do you think that a techno-genius should be promoted when he/she has people skills and know how to make a proper appearance?

If your answer to this question is yes, you better think about your decision for more than 100 times. According to the article entitled Great IT Leaders Have To Be Made, Execs Say, being an effective project manager is more than just having the basic skills needed for the job. Kay Palmer, CIO of J.B. Hunt Transport Inc. remarked that if a person pursued this kind of decision over the matter, there is a chance that you could find yourself having a “so-so” manager rather than an effective one.

The best way to find out if a person has the qualities of being an effective project manager is by training them. The training done to these people would include commitment from the part of the participants. One example of these training programs available is the one used by Jerry Bartlett, CIO of TD Ameritrade Holding Corporation. The CIO mentioned that there are three programs included in his kind of training and these are:

  • evaluation of personal characteristics
  • assigning industrial psychologist that is not situated in the firm
  • educating and tutoring by mentors

The CIO believed that with these three aspects in his training program, a person could develop into an effective and worthy project manager in their firm.

On the other hand, survey results from the survey conducted by Computerworld in response to this question (How are you working to develop the next generation of IT leaders?) yielded the following results:

  • 56% – mentoring the expected replacement
  • 45% – implementation of an in-house leadership development program
  • 43% – rotating promising IT leaders through different tasks
  • 24% – putting a formal succession plan in place
  • 23% – collaborating with universities in order to directly recruit graduates

Thoughts and Insights

Being a Project Manager is more than just the glory-there is also the hardwork associated with it. I believe that every person have the skills needed to be an effective project manager, it just depends on how a person is going to use it and how one could go about it. Of course, there is no harm in further enhancing these skills for the betterment of that person. By being a project manager, a person is expected to have the basic “techie” skills, communication skills, and management skills that would help a person shift from being effective to being an expert PM.

The Culture in PM

Culture is something that should come naturally in a group or an organization and not everyone could adapt with certain kind of culture. In project management, there is a term in the tune of “project management culture” which pertains to the norms and ways of people in a project.

In order to adapt with this culture, there should be steps that should be taken in order to ensure that this would run smoothly. Stephen Seay’s blog offers some steps which should be considered whenever such subject is encountered in the course of Project management.

    First Steps in PM Culture

  • clear definition of roles and responsibilities of Project managers and team members
  • forming a basic training plan for project management
  • leaders and other supervisors should have advanced training in PM
  • establish project management office (PMO) to provide guidance to the progress of PM
  • estabish a standard in PM methodology

Additional Project Management Quotes

Here are some of additional PM quotes that could enlighten people in a PM-related work:

Quantitative project management is for predicting cost and schedule overruns well in advance.Good project managers know when not to manage a project.

Metrics are learned men’s excuses.

For a project manager overruns are as certain as death and taxes.

If there were no problem people there’d be no need for people who solve problems.

Some projects finish on time in spite of project management best practices.

Good project managers admit mistakes: that’s why you so rarely meet a good project manager.

Fast – cheap – good: you can have any two.

There is such a thing as an unrealistic timescale.

The more ridiculous the deadline the more money will be wasted trying to meet it.

The first 90% of a project takes 90% of the time the last 10% takes the other 90%.

Thoughts and Insights

The culture of a project usually determines how a team would go about their work. This is the reason why some team usually incorporate important values in their working habit. For example, if a team happens to practice a well-planned and organized culture, the chances of a project being done on time and on schedule would be high. Through practicing these steps mentioned in the article, teams would be more or less inclined to give their all whenever doing something that is work-related.