How to Make and Live with Imperfect Decisions in Projects

5 Minutes Podcast with Ricardo Vargas

#Project Management #Ricardo Viana Vargas #Business #Careers #Risk #Risk Management #PMI #PMP #Portfolio Managers #Program Managers #Capm #Ipma

1:03:38

Too many entrepreneurs get stuck on the business treadmill, hustling nonstop, unable to scale, and unknowingly stalling their growth. That’s where Dave Ramsey began. After crashing into $3 million in debt, he rebuilt from scratch, turning a small radio program into a national show with millions of listeners. With over three decades of experience in entrepreneurship, business growth, and content creation, he knows what it takes to build a lasting business. In this episode, Dave reveals the six drivers of long-term success, the five key stages of startup growth, and how he balances life as an entrepreneur and a content creator. In this episode, Hala and Dave will discuss: (00:00) Introduction (00:23) The Core Principles of Financial Freedom (05:42) Adapting to Change as a Content Creator (09:22) Balancing Content Creation and Entrepreneurship (12:34) How to Create a Clear Path in Business (15:19) The Truth About Starting a Business Today (18:22) The Six Drivers of Business Success (26:20) Shifting From Tactical to Strategic Thinking (29:44) The Five Stages of Business Growth (41:10) Leading with Care, Clarity, and Accountability (47:10) Identifying the Right Leadership Skills (48:35) Starting a Media Business as an Entrepreneur Dave Ramsey is a personal finance expert, radio personality, bestselling author, and the founder and CEO of Ramsey Solutions. Over the past three decades, he has built a legacy of helping millions achieve financial freedom. As the host of The Ramsey Show , Dave reaches more than 18 million listeners each week. He is the author of eight national bestselling books. His latest, Build a Business You Love , helps entrepreneurs navigate growth and overcome challenges at every stage. Sponsored By: Shopify - Sign up for a one-dollar-per-month trial period at youngandprofiting.co/shopify OpenPhone: Streamline and scale your customer communications with OpenPhone. Get 20% off your first 6 months at openphone.com/profiting Airbnb - Find yourself a co-host at airbnb.com/host Indeed - Get a $75 sponsored job credit at indeed.com/profiting RobinHood - Receive your 3% boost on annual IRA contributions, sign up at robinhood.com/gold Factor - Get 50% off your first box plus free shipping at factormeals.com/factorpodcast Rakuten - Save while shopping at rakuten.com Microsoft Teams - Stop paying for tools. Get everything you need, for free at aka.ms/profiting LinkedIn Marketing Solutions - Get a $100 credit on your next campaign at linkedin.com/profiting Resources Mentioned: Dave’s Book, Build a Business You Love: bit.ly/BuildaBusinessYouLove Dave’s Website: ramseysolutions.com Active Deals - youngandprofiting.com/deals Key YAP Links Reviews - ratethispodcast.com/yap Youtube - youtube.com/c/YoungandProfiting LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ Social + Podcast Services: yapmedia.com Transcripts - youngandprofiting.com/episodes-new Entrepreneurship, Entrepreneurship Podcast, Business, Business Podcast, Self Improvement, Self-Improvement, Personal Development, Starting a Business, Strategy, Investing, Sales, Selling, Psychology, Productivity, Entrepreneurs, AI, Artificial Intelligence, Technology, Marketing, Negotiation, Money, Finance, Side Hustle, Mental Health, Career, Leadership, Mindset, Health, Growth Mindset, Side Hustle, Passive Income, Online Business, Solopreneur, Networking.…

about a year ago 9:00

MP3•Episode home

In this episode of the #5minpodcast, Ricardo discusses a challenge every project manager faces: making and living with imperfect decisions. He explains that critical project decisions are often open-ended and filled with uncertainty, unlike the straightforwardness of mathematical problems. Ricardo shares three practical tips he uses to navigate complex, high-stakes scenarios, helping project managers embrace uncertainty and turn imperfect decisions into opportunities.

Listen to the podcast to know more.

734 episodes

How to Make and Live with Imperfect Decisions in Projects

5 Minutes Podcast with Ricardo Vargas

492 subscribers

published about a year ago

MP3•Episode home

Listen to the podcast to know more.

734 episodes

#Project Management #Ricardo Viana Vargas #Business #Careers #Risk #Risk Management #PMI #PMP #Portfolio Managers #Program Managers #Capm #Ipma

All episodes

5 Minutes Podcast with Ricardo Vargas

1
Same risk. Three opinions. Who’s right? 4:49

4 days ago4:49

4:49

In this episode, Ricardo explores the concept of “Risk Lensing”, the idea that risk is shaped by individual perceptions rather than objective data. He uses the example of a child climbing a tree to show how various people can have different perspectives on the same event. Understanding how stakeholders view opportunities and risks is more important for effective risk management than formulae or spreadsheets. Ricardo places a strong emphasis on cooperation, empathy, and listening. Asking people what really troubles them is a good way to manage risk since risk exists in the minds of those engaged, not the project. Listen to the podcast to learn more!…

5 Minutes Podcast with Ricardo Vargas

1
Simplicity at Work: John Maeda’s 10 Laws for Project Clarity in 5 Minutes 5:45

10 days ago5:45

5:45

In this episode of the 5 Minutes Podcast, Ricardo explores John Maeda’s Ten Laws of Simplicity as a guide for project managers seeking focus, flow, and impact. Key principles include reducing non-essential elements, organizing work clearly, using time efficiently, embracing learning and diversity, and linking tasks to purpose. Emotional intelligence, trust, and learning from failure are emphasized, along with having one guiding principle. Maeda’s three keys—Away, Open, and Power—remind us that simplicity boosts clarity and outcomes. Ricardo encourages listeners to explore the website lawsofsimplicity.com for more insights. Simplicity isn’t about doing less - it’s about doing what truly matters. Listen to the podcast to learn more!…

5 Minutes Podcast with Ricardo Vargas

1
Moving Forward When a Negotiation is Stuck 6:22

17 days ago6:22

6:22

In this episode, Ricardo discusses how to handle stalled negotiations, using the U.S.–China trade tensions as a case study. He highlights that project managers often face deadlocks not due to unsolvable problems, but due to repeated arguments. Instead of pushing harder, Ricardo suggests pausing, reframing the issue, and focusing on interests rather than positions. Key tactics include identifying hidden constraints, involving a neutral party, breaking negotiations into smaller parts, and revisiting the BATNA (Best Alternative to a Negotiated Agreement). Ultimately, success in negotiation lies in rebuilding trust, finding common ground, and fostering collaboration, not in winning, but in moving forward. Listen to the podcast to learn more!…

5 Minutes Podcast with Ricardo Vargas

1
Five Project Tips to Navigate Trade Tariffs and Uncertainty 8:53

24 days ago8:53

8:53

In this episode, Ricardo discusses the impact of tariffs and global trade tensions on project management. He shares five practical tips: (1) Review international dependencies to assess risks to cost and timelines; (2) Diversify suppliers to reduce vulnerability to specific countries; (3) Update risk analysis to include political and economic uncertainties like customs delays or currency fluctuations; (4) Communicate clearly with stakeholders to maintain trust; and (5) Explore local sourcing to avoid international instability. These strategies help navigate market volatility and keep projects on track. Proactive planning, not passivity, is essential in times of global uncertainty and disruption. Listen to the podcast to learn more!…

5 Minutes Podcast with Ricardo Vargas

1
My #1 Tip to Spot a Troubled Project Before It's Too Late 5:54

4 weeks ago5:54

5:54

In this episode, Ricardo emphasizes the importance of monitoring corporate support in projects. Projects often start with enthusiasm, but as challenges arise, support may wane. Ignoring this decline can lead to failure. Ricardo advises openly addressing the issue with stakeholders, even if it's uncomfortable. Recognizing when support is lost allows for adjustments before the project collapses. Developing alternative options is crucial for avoiding professional damage. Remaining adaptable and alert to early warning signs is essential, especially in volatile environments. Blindly pursuing a failing project is destructive and unsustainable. Proactive communication and flexibility are key to preserving value and reputation. Listen to the podcast to learn more!…

5 Minutes Podcast with Ricardo Vargas

1
How Vibe Coding Will Completely Transform Project Management in Software Development 6:21

5 weeks ago6:21

6:21

In this episode, Ricardo discusses the impact of Vibe Coding, an approach where generative AI writes code based on natural language commands. He highlights that this technology could revolutionize software project management, making traditional planning less relevant. With faster execution and instant corrections, the need for documents and processes may decrease. Ricardo recommends exploring tools like Lovable, Cursor, and Interface V0. Despite its limitations, adoption is happening quickly and could transform the industry within months. He encourages preparation for this disruptive change and invites discussion on its impact. Listen to the podcast to learn more!…

5 Minutes Podcast with Ricardo Vargas

1
Quantum Computer, Privacy, Biotech Projects, LLM and AGI: The Future Ahead of Us at SXSW 2025 in Austin Part 2/2 9:51

6 weeks ago9:51

9:51

In this second episode of the SXSW series, Ricardo shares insights from South by Southwest, highlighting three major trends: (1) the evolution of artificial intelligence, with adaptive models learning in real-time and energy consumption challenges; (2) advances in biotechnology, including projects to resurrect extinct species; and (3) the impact of vibe coding, allowing software to be created quickly, which could transform project management. He also discusses ethical dilemmas of AI, such as privacy and decision automation. Finally, he recommends exploring content from the event on YouTube and its newsletter for those who want to stay up to date on these innovations. Listen to the podcast to learn more.…

5 Minutes Podcast with Ricardo Vargas

1
Biological Computers, AGI, Living Intelligence: The Future Ahead of Us at SXSW 2025 in Austin 8:48

7 weeks ago8:48

8:48

Ricardo recorded this special 5 Minutes Podcast from SXSW in Austin, Texas, where he explores AI and technology trends in project management. Key insights include small language models optimized for specific tasks, biotech integrating neuron cells into computing, AI’s influence on human behavior, and vibe coding, which allows users to build software through voice commands in minutes. He highlights the disruptive speed of AI-driven development and its profound impact on project management. Ricardo describes these innovations as mind-blowing and closer to reality than expected, promising a follow-up episode with more insights from the conference. Listen to the podcast to learn more!…

5 Minutes Podcast with Ricardo Vargas

1
Stop Complaining About Your Project: Less Whining, More Winning 5:36

8 weeks ago5:36

5:36

In this episode, Ricardo discusses excessive complaining in project management, explaining that it hinders progress. He highlights the need to shift from frustration to action and shares three strategies: Reverse Standups, The Two-Minute Rule, and No-Blame Hackathons. He emphasizes that projects are inherently difficult, requiring methodologies and tools, and that complaining alone accomplishes nothing. Instead, focus on solutions that lead to real progress. His main message is clear: stop complaining and take action. He concludes by encouraging listeners to adopt this mindset. Listen to the podcast to learn more!…

5 Minutes Podcast with Ricardo Vargas

1
Why Can Feedback Make or Break Projects? 5:10

9 weeks ago5:10

5:10

In this episode, Ricardo discusses the importance of effective feedback in project management, emphasizing that poor feedback can be harmful. He highlights common mistakes like vague, generic, or poorly timed feedback. Ricardo advocates for the SBI technique (Situation, Behavior, Impact) to provide clear and constructive feedback, focusing on the situation, what happened, and its impact. He warns against using feedback as a tool for personal attacks and stresses its role in fostering a culture of learning. Ricardo also encourages receiving feedback openly, learning from it, and ignoring unconstructive criticism. Proper feedback improves team performance and project outcomes. Listen to the podcast to learn more!…

5 Minutes Podcast with Ricardo Vargas

1
Managing Projects in Chaos: 5 Practical Tips for Project Leaders 5:10

10 weeks ago5:10

5:10

In this episode, Ricardo discusses how to manage projects in chaos, inspired by a conversation with Oleg Konovalov. He highlights how noise distorts reality, making it crucial to see beyond immediate challenges. To navigate the chaos, he shares four key tips: 1) Embrace uncertainty , 2) Prioritize ruthlessly , 3) Stay agile , 4) Overcommunicate , and 5) Keep calm . These principles help project managers stay focused and resilient. Instead of trying to eliminate chaos, the key is to adapt and work within it. Tune in to the podcast to learn more!…

5 Minutes Podcast with Ricardo Vargas

1
Why Project Sponsorship is One of The TOP Reasons for Project Failure 5:05

11 weeks ago5:05

5:05

In this podcast, Ricardo discusses how many project failures are due not to technical issues, budgets, or deadlines but to weak project sponsorship. A senior sponsor is not enough if they are disengaged or unaware of the project’s progress. Sponsors are crucial to solving complex problems and providing executive support. Changes in sponsorship often introduce new risks, as new sponsors bring different priorities and behaviors. To mitigate these risks, Ricardo advises tracking sponsor engagement, identifying early warning signs, and delivering projects in smaller, faster phases to reduce volatility. He discusses the importance of proactive risk management and adaptability in such situations. Tune in to the podcast to learn more!…

5 Minutes Podcast with Ricardo Vargas

1
Using What-if Analysis to Manage Projects in Extremely Volatile Scenarios 6:57

12 weeks ago6:57

6:57

In this podcast, Ricardo talks about the importance of what-if analysis in navigating volatile scenarios, such as geopolitical changes or unexpected project disruptions. By anticipating potential challenges—like new taxes, supply chain issues, or key team members leaving—project managers can develop contingency plans to adapt quickly. Ricardo highlights that dismissing unlikely scenarios can be dangerous, as even improbable events can occur. He stresses reducing project lifecycles to minimize exposure to volatility and using what-if scenarios to stay prepared. Ultimately, adaptability and proactive planning are essential for managing projects in uncertain environments. Tune in to the podcast to learn more!…

5 Minutes Podcast with Ricardo Vargas

1
DeepSeek: How a small Chinese start-up Shocked Silicon Valley and May Reshape Entirely AI Projects 6:09

13 weeks ago6:09

6:09

In this episode, Ricardo talks about DeepSeek, a groundbreaking AI application from a small Chinese startup. Unlike other AI models, DeepSeek was trained for just $5.7M—far less than OpenAI’s $100M+ investments—yet it rivals top models like OpenAI’s O1. This breakthrough could disrupt the AI industry, enabling smaller companies to develop advanced models without massive infrastructure. The news has already impacted major tech stocks, including Nvidia and Microsoft. If DeepSeek’s claims hold true, AI accessibility will skyrocket, reshaping project management and beyond. Ricardo urges listeners to explore DeepSeek and stay alert to its potential impact. Tune in to the podcast to learn more!…

5 Minutes Podcast with Ricardo Vargas

1
How the WEF Global Risk Report 2025 Shapes the Future of Our Projects 7:03

14 weeks ago7:03