S8E190: When to use Reference Class Forecasting and when NOT to with Ian Heptinstall

The Project Chatter Podcast

#Business #Val Matthews & Dale Foong #Dale Foong #Val Matthews #Project Management #Project Controls #Risk Management #Change Management #Transformation #PMO

26:28

Squid Game is back—and this time, the knives are out. In the thrilling Season 3 premiere, Player 456 is spiraling and a brutal round of hide-and-seek forces players to kill or be killed. Hosts Phil Yu and Kiera Please break down Gi-hun’s descent into vengeance, Guard 011’s daring betrayal of the Game, and the shocking moment players are forced to choose between murdering their friends… or dying. Then, Carlos Juico and Gavin Ruta from the Jumpers Jump podcast join us to unpack their wild theories for the season. Plus, Phil and Kiera face off in a high-stakes round of “Hot Sweet Potato.” SPOILER ALERT! Make sure you watch Squid Game Season 3 Episode 1 before listening on. Play one last time. IG - @SquidGameNetflix X (f.k.a. Twitter) - @SquidGame Check out more from Phil Yu @angryasianman , Kiera Please @kieraplease and the Jumpers Jump podcast Listen to more from Netflix Podcasts . Squid Game: The Official Podcast is produced by Netflix and The Mash-Up Americans.…

about a year ago 1:21:00

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In this episode of the Project Chatter podcast, Val Matthews and Ian discuss various aspects of project management, emphasizing the importance of language, learning from past experiences, and the role of technology. They explore the concept of reference class forecasting, the evolution of project management practices, and the significance of mentorship. The conversation also touches on the challenges faced in modern project management, the impact of collaborative contracting, and the future of AI in the field. The episode concludes with reflections on the need for standardization and the importance of not automating ineffective practices.

201 episodes

S8E190: When to use Reference Class Forecasting and when NOT to with Ian Heptinstall

The Project Chatter Podcast

14 subscribers

published about a year ago

MP3•Episode home

201 episodes

#Business #Val Matthews & Dale Foong #Dale Foong #Val Matthews #Project Management #Project Controls #Risk Management #Change Management #Transformation #PMO

All episodes

The Project Chatter Podcast

1
S8E200: AI and the Job Market: Myths and Realities with Chirag Shah 1:15:26

20 hours ago1:15:26

1:15:26

Proudly sponsored by Deltek.com In this episode, the hosts celebrate their 200th episode with guest Chirag Shah, discussing the evolving job market, the impact of AI, and the importance of networking and mentorship in career growth. They explore the expectations of candidates in today's market, the significance of soft skills, and the balance between work and personal life. The conversation emphasises the need for continuous learning and adaptability in the project controls industry, while also addressing the challenges of recruitment and the changing dynamics of workplace culture. Takeaways AI is not here to take jobs but to create new opportunities. Networking and mentorship are crucial for career advancement. Candidates should focus on soft skills alongside technical abilities. Understanding market trends is essential for job seekers. The importance of being present in the workplace for early career development. Expectations around promotions should be clearly communicated by managers. Building a personal brand is vital in today's job market. Flexibility in work arrangements is becoming norm. Candidates should actively manage their career growth and expectations. The project controls industry is evolving, requiring adaptability and continuous learning.…

The Project Chatter Podcast

1
S8E199: AI Implications in Construction with Doug Vincent 1:03:14

5 weeks ago1:03:14

1:03:14

Proudly sponsored by Deltek. In this episode of the Project Chatter podcast, hosts discuss the implications of AI in project management and construction. Doug Vincent shares insights on how AI can be demystified for clients, its potential in industry innovation, and the challenges faced in education regarding AI integration. The conversation explores practical applications of AI, the importance of trust in AI systems, and the future of work as AI continues to evolve. Doug emphasises the need for creativity and human input in leveraging AI effectively, while also addressing concerns about job displacement and the role of AI in personal growth and education. Takeaways AI is often misunderstood; it's just advanced software. Education systems are lagging in embracing AI. AI can enhance productivity in construction. Trust in AI is built through reliability and security. AI can automate mundane tasks, freeing up human creativity. The construction industry needs to adapt to AI innovations. AI can help cover blind spots in decision-making. Awareness of AI's capabilities is crucial for its adoption. AI can serve as a tool for personal growth and reflection. The future of work will involve collaboration between humans and AI To reach out to our guest check out the following: https://www.mastt.com/ https://www.youtube.com/@DougVincentCPM https://www.linkedin.com/in/vincentdoug…

The Project Chatter Podcast

1
S8E198: PMO Conference 2024 - Live in Edinburgh 1:01:07

23 weeks ago1:01:07

1:01:07

Proudly sponsored by Deltek . In this engaging podcast episode, the hosts introduce their guest, Michael Reinders, who shares his journey into project management and PMO. The conversation explores the evolution of PMO roles, the importance of change management, and the future trends impacting the workforce. The hosts and guests discuss strategies for engaging younger generations in PMO roles, emphasizing the need for trust, support, and fun in the workplace. The episode concludes with audience interaction, highlighting the importance of connection and engagement in project management. This conversation delves into the intricate relationship between project management and change management, emphasizing the need for distinct roles and methodologies. It explores generational perspectives on resilience and adaptability in the workplace, particularly in the context of AI integration. The discussion highlights the evolving role of PMOs in strategic initiatives and the importance of effective communication skills. Insights from podcast guests further enrich the conversation, providing a multifaceted view of the challenges and opportunities in project management today. takeaways The PMO role has evolved significantly over time. Change management is crucial for successful project delivery. AI tools can enhance project management efficiency. Work-life balance is essential for attracting talent. Engaging younger generations requires adapting to their values. Trust and support are foundational in team dynamics. Creating a fun work environment boosts morale and productivity. Understanding individual team members fosters better relationships. Continuous learning is vital for PMO professionals. Audience engagement enriches the podcast experience. Project managers need to understand change management requirements. Change management and project management are distinct disciplines. Leadership capabilities are essential for project managers. ProSci methodology is a key framework for change management. Organizational culture is crucial for successful project delivery. AI should be integrated into the entire project ecosystem. PMOs must have a voice at the C-suite level. Resilience is built through experience and challenges. Effective communication is vital for project success. PMOs should be recognized as a professional discipline.…

The Project Chatter Podcast

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S8E197: Engaging the Next Generation of Risk Managers with Seyi Daniyan 1:17:00

25 weeks ago1:17:00

1:17:00

This episode proudly sponsored by Deltek. n this episode of the Project Chatter podcast, Dale and Martin welcome Seyi Daniyan, a project risk manager, who shares her career journey from chemical engineering to risk management. The conversation explores the importance of attracting young talent to the field, the fundamental concepts of risk management, and the skills necessary for success in this profession. Seyi emphasises the need for curiosity, effective communication, and the ability to influence others. The discussion also touches on the future of risk management roles and the evolving nature of the profession in response to technological advancements. In this engaging conversation, Dale and Seyi explore the evolving landscape of risk management, emphasising the need for decision analysts to evaluate project decisions effectively. They discuss the concept of reference class forecasting, the challenges of navigating financial discussions in risk workshops, and the lessons learned from the pandemic that reshaped risk management practices. The integration of AI in risk management is highlighted as a transformative tool, while the importance of engaging younger professionals and gamifying risk management processes is also addressed. Seyi shares insights on making risk management relatable and fun, ultimately encouraging open dialogue and mentorship in the field. Takeaways Shaye Danian transitioned from chemical engineering to project risk management. There is a significant lack of young professionals in project risk management. Risk management involves managing uncertain events, both positive and negative. Effective risk management can lead to projects being completed on time and within budget. Curiosity is a key trait for successful risk managers. Communication and influencing skills are essential in risk management. Graduate schemes should provide a solid foundation in project management. Risk management roles may evolve with advancements in technology. Understanding the different facets of project management is crucial for risk managers. Everyone engages in risk management in their daily lives. The need for decision analysts to evaluate project decisions. Reference class forecasting can enhance decision-making. Risk workshops should involve the right stakeholders. The pandemic highlighted gaps in traditional risk management. AI can revolutionize risk management practices. Engaging younger professionals is crucial for the future of the field. Gamification can make risk management more relatable. Food and informal settings can ease risk discussions. Understanding the difference between risks and issues is vital. Mentorship is important for newcomers in risk management.…

The Project Chatter Podcast

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S8E196: Contract Alliances - what does it really mean with Ian Quick 50:43

26 weeks ago50:43

50:43

This episode is proudly sponsored by Deltek. In this episode of the Project Chatter podcast, Dale speaks with Ian Quick about his extensive journey in project management, particularly focusing on the concept of alliancing. Ian shares his experiences transitioning from engineering to project management, the importance of collaboration and culture in successful alliances, and the role of leadership in fostering an environment of trust and empowerment. The conversation delves into the challenges and benefits of alliancing, emphasising the need for vulnerability, accountability, and diverse thinking in leadership. Ian reflects on his personal growth and the lasting relationships formed through collaborative projects, ultimately advocating for a shift in the construction industry towards more effective and sustainable practices. Takeaways Ian's journey into project management began with engineering. Alliancing requires a shift in mindset from traditional contracting. Collaboration is essential for successful project outcomes. Vulnerability in leadership fosters a culture of trust. Empowerment allows teams to make decisions for the common good. Cultural alignment is crucial in collaborative environments. Diverse thinking enhances problem-solving in teams. Accountability should be accepted, not imposed. Successful alliances create lasting professional relationships. The construction industry must evolve to improve productivity and sustainability.…

The Project Chatter Podcast

1
S8E195: Why Change Management Matters with Karen Ball 1:06:07

27 weeks ago1:06:07

1:06:07

This episode is proudly sponsored by Deltek In this episode of the Project Chatter podcast, Val and Martin engage with Karen Ball from ProSci to explore the intricacies of change management. They discuss Karen's journey into the field, the growing demand for change management services, and the impact of remote work on the discipline. The conversation delves into the distinctions between change managers and project managers, the importance of change management in ERP projects, and the evolution of the field over the past 25 years. Finally, they contemplate the future of change management in the context of AI and technology, emphasizing the need for a human-centric approach in an increasingly automated world. In this conversation, Karen Ball discusses the critical role of change management in organizations, emphasizing the importance of cultural readiness, the impact of change managers, and the need for effective measurement of change success. She highlights the significance of building change capability and the resources available for learning about change management. The discussion also touches on the evolving nature of leadership in change management and the necessity for organizations to support their employees through transitions.takeaways Change management is essential for successful project outcomes. The demand for change management has always existed, but awareness is increasing. Remote work has changed how change management strategies are developed and implemented. Effective communication is crucial for successful change management. Change managers focus on the people side of change, while project managers handle the technical aspects. Organizations often underestimate the importance of change management in achieving project benefits. AI and technology will continue to evolve, impacting change management practices. Investing in change management can significantly enhance project success rates. The ADCAR model is a key framework for understanding individual change journeys. Maturity in change management practices has improved over the years, but challenges remain. ProSci focuses on plain language for effective communication. Change management is essential for achieving full adoption of changes. Cultural readiness significantly impacts the success of change initiatives. Measuring success in change management requires a focus on adoption and proficiency. Organizations need to build change capability as a strategic component. Active sponsorship is crucial for successful change management. Tools and methodologies can guide change management practices. Self-learning and curiosity are vital for understanding change management. Change management resources are abundant and accessible for learning. The human aspect of change management remains irreplaceable.…

The Project Chatter Podcast

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S8E194: The Impact of Yoga and Fitness on Work Performance with Elise Carbone 1:04:43

28 weeks ago1:04:43

1:04:43

This episode is proudly sponsored by Deltek In this episode of the Project Chatter podcast, host Dale speaks with Elise Carbone about the impact of yoga and fitness on work performance. Elise shares her personal journey into yoga, discussing how it helped her manage stress, improve posture, and enhance productivity. The conversation explores various aspects of yoga, including its physical and spiritual benefits, and practical ways to integrate yoga and fitness into daily life, especially for busy professionals. They also touch on the importance of mindfulness and breathing techniques in managing stress and anxiety, particularly in the context of a post-pandemic world. In this engaging conversation, Elise Carbone and Dale discuss the significance of authenticity and kindness in personal and professional interactions. They explore how creating space for open communication within teams can enhance connection and understanding. The importance of active listening and mindfulness in leadership is emphasized, along with strategies for managing distractions to improve focus. Elise shares her approach to balancing work challenges with personal fitness goals, illustrating how physical challenges can foster personal growth and resilience.…

The Project Chatter Podcast

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S8E193: The 4 reasons why modern projects fail with David Whitmore 1:24:28

28 weeks ago1:24:28

1:24:28

This episode is proudly sponsored by Deltek In this episode of the Project Chatter podcast, host Dale speaks with David Whitmore about the complexities of project management, particularly in the context of engineering and nuclear projects. They discuss the four key reasons why projects fail, emphasizing the importance of relationships, decision-making speed, complexity, and digital integration. David shares insights from his extensive experience in the field, highlighting the need for project managers to understand both the technical and managerial aspects of their roles. The conversation also touches on the significance of measuring relationships and behaviours in project tendering processes to ensure successful outcomes. In this conversation, David Whitmore discusses the critical aspects of project management, focusing on the importance of relationship scores, the integration of digital technology, and the need for streamlined decision-making processes. He emphasises the significance of decision logs for learning and the potential of digital twins in simulating project outcomes. The discussion also highlights the challenges posed by increasing complexity in projects and the necessity for a holistic approach to digital systems. Whitmore advocates for a future where project management adapts to these complexities, ensuring that projects are delivered effectively and efficiently.…

The Project Chatter Podcast

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S8E192: Unlocking the secrets to conferences with Greg Lawton, Olli Wade and Micah Piippo! 45:47

29 weeks ago45:47

45:47

In this episode we join forces with the Beyond Deadlines podcast crew recoded live in Washington, DC. We discuss the significance of expos and conferences in the project management field. The boys emphasize the importance of networking, community building, and the shared challenges faced by professionals. The conversation highlights the need for younger generations to engage in these events, innovative workshop ideas for learning, and the value of hands-on experience with software. They also explore the current AI landscape, the importance of genuine conversations, and the role of feedback in continuous learning. In this conversation, we discuss the critical aspects of project management, emphasizing the importance of networking. They explore the common challenges faced in project delivery, particularly the issue of late projects, and the role of project controls in ensuring successful outcomes. The discussion also highlights the need for collaboration among project management tools and the significance of professional development through workshops and networking events. Check out Beyond Deadlines here: https://www.youtube.com/@BeyondDeadlines Takeaways 👀 Expos provide valuable networking opportunities for professionals. 👀 Community building is essential for tackling shared challenges. 👀 Younger generations should be encouraged to participate in conferences. 👀 Workshops can enhance learning experiences significantly. 👀 Hands-on experience with software is crucial for understanding its application. 👀 Navigating the AI landscape requires awareness of numerous startups. 👀 Conversations at events can lead to valuable insights and connections. 👀 Learning from others' experiences can accelerate personal growth. 👀 Feedback is vital for refining ideas and approaches. 👀 Networking is a key component of professional development. Follow-up is essential for maintaining professional relationships. 👀 Building a network requires ongoing communication and value exchange. 👀 Memorable interactions often involve humor and genuine interest. 👀 Late project delivery is a widespread issue across industries. 👀 Resource loading schedules can complicate project management. 👀 Understanding the value of project controls is crucial for success. 👀 Project teams should be empowered to manage their schedules effectively. 👀 Collaboration among project management tools can enhance efficiency. 👀 Investing in professional development is vital for career growth. 👀 Networking events provide valuable opportunities for learning and connection. Chapters 02:03 Community Building and Shared Challenges 03:35 Learning Opportunities at Conferences 04:53 Encouraging Younger Generations in Project Management 05:52 Innovative Workshop Ideas for Learning 07:26 Hands-On Experience with Software 08:52 Navigating the AI Landscape 10:32 The Value of Conversations at Events 11:56 Learning from Others' Experiences 12:42 Feedback and Continuous Learning 15:22 The Role of Networking in Professional Growth 16:55 Key Takeaways from Conferences 18:12 Tips for Starting Conversations 20:09 Understanding Hard Selling vs. Genuine Connection 21:04 The Importance of Follow-Up 24:52 Challenges in Project Delivery 29:53 Resource Loading in Project Management 33:28 The Role of Project Controls 37:14 Collaboration in Project Management 40:12 Networking and Professional Development #ProjectManagement #PMO #ProjectControls #Leadership #Culture #ProjectCertifications…

The Project Chatter Podcast

1
S8E191: Detox Your Culture with Colin D Ellis 1:06:16

29 weeks ago1:06:16

1:06:16

In this episode of the Project Chatter Podcast, Dale, Martin and Colin D Ellis discuss the evolving landscape of workplace culture, particularly in the aftermath of COVID-19. They explore the necessity of detoxifying toxic cultures, the importance of leadership in fostering a positive environment, and the role of employees in shaping culture. Colin shares insights from his latest book, emphasizing the need for organizations to actively manage their culture and mitigate risks associated with toxicity. The conversation also touches on the impact of AI on workplace dynamics and the significance of effective feedback and personality awareness in team settings. Takeaways 🧬 Culture is a choice that organizations must actively make. 🧬 Every workplace has the potential for a vibrant culture. 🧬 Toxic culture can manifest in various forms, from poor communication to severe harassment. 🧬 Leadership plays a crucial role in mitigating toxic culture risks. 🧬 New employees should be aware of cultural dynamics and how to address them. 🧬 Purpose and vision should be collaboratively defined within organizations. 🧬 Effective feedback is essential for maintaining a healthy culture. 🧬 Personality dynamics can significantly impact team performance and culture. 🧬 Measuring culture requires a balance of engagement and emotional intelligence. 🧬 AI presents both opportunities and threats to workplace culture. Chapters 00:00 Introduction and Context of Workplace Culture 02:52 The Importance of Detoxifying Workplace Culture 05:57 Understanding Toxic Culture and Its Symptoms 09:13 Mitigating Toxic Culture Risks 11:56 The Role of Leadership in Culture 14:52 Creating and Maintaining a Positive Culture 18:14 The Impact of Purpose and Vision on Culture 20:58 Balancing Truth and Order in Project Management 24:11 Feedback and Communication in Culture 26:58 Personality Types and Team Dynamics 29:50 The Evolution of Colin's Books on Culture 33:12 The Role of HR in Culture Management 36:01 Measuring Culture Effectively 39:17 AI's Role in Workplace Culture 42:08 Audience Questions and Insights 45:16 Final Thoughts on Culture Responsibility #ProjectManagement #PMO #ProjectControls #Leadership #Culture #ProjectCertifications…

The Project Chatter Podcast

1
S8E190: When to use Reference Class Forecasting and when NOT to with Ian Heptinstall 1:21:00

30 weeks ago1:21:00

1:21:00

The Project Chatter Podcast

1
S8E189: Using change ninja skills to manage your life with Tammy Watchorn 1:02:52

31 weeks ago1:02:52

1:02:52

In this episode of the Project Chatter podcast, Val Matthews speaks with Dr. Tammy Watchhorn about the intersection of change management, emotional intelligence, and neuroscience. They explore how emotions influence our reactions and responses in high-pressure environments, the importance of mental health awareness in project management, and practical tools for managing change. Tammy shares her personal journey of transformation and emphasizes the need for self-awareness and resilience in navigating workplace dynamics. The conversation also touches on the impact of AI on the future of work and the importance of empowering individuals to take control of their work environments. Takeaways Emotions play a crucial role in how we react to change. Understanding neuroscience can help us manage our responses. Recognizing physical sensations is key to emotional regulation. Choosing to respond rather than react leads to better outcomes. Building resilience is essential in high-pressure environments. Mental health awareness is increasingly important in project management. Emotional intelligence can be developed and applied in the workplace. Navigating difficult conversations requires empathy and understanding. Neurodiversity should be acknowledged and accommodated in teams. Empowering individuals leads to a more engaged and productive workforce. Chapters 00:00 Introduction and Book Inspiration 04:24 Understanding Neuroscience in Change Management 07:31 Awareness and Emotional Responses 10:20 Managing Stress and External Pressures 13:03 Mental Health and Project Management 15:57 Emotional Intelligence and Personal Growth 19:02 Navigating Team Dynamics and Neurodiversity 22:00 The Role of Technology in Work-Life Balance 24:54 High-Performing Teams and Personal Choice 27:34 AI and the Future of Work 30:13 Training and Resources for Change Management 33:47 Final Thoughts and Conclusion Proudly sponsored by ⁠⁠ Deltek…

The Project Chatter Podcast

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S8E188: The Pros & Cons of Professional Institutions & Associations with Adam Boddison 1:19:29

32 weeks ago1:19:29

1:19:29

In this episode, the conversation revolves around the role of professional bodies in project management, particularly focusing on the APM (Association for Project Management). Adam Boddison, the CEO of APM, discusses the importance of community engagement, the challenges faced by the project management profession, and the impact of AI on the industry. The discussion also touches on career development, the need for a unified approach among professional bodies, and the future of project management in a rapidly changing technological landscape. Takeaways Project management is often misunderstood and needs better representation. Community engagement is crucial for career development in project management. AI will play a significant role in the future of project management. Professional bodies like APM are essential for supporting project professionals. The definition of project success varies and needs to be clarified. There is a shortage of qualified project professionals globally. Project management should focus on people, not just processes. The APM aims to inspire communities to deliver meaningful change. Collaboration among professional bodies can benefit the project management profession. AI literacy is becoming increasingly important for project professionals. Chapters 00:00 Introduction and Welcome 04:56 Adam's Journey into Project Management 06:20 Defining Project Management 08:40 The Role of APM and its Mission 09:55 Expanding APM's Global Footprint 14:49 Choosing a Professional Body for Career Development 17:53 Engagement with Professional Bodies 23:08 Differentiators of APM 27:08 Shortage of Project Professionals 31:50 Addressing the PR Problem in Project Management 36:17 Project Success and Challenges 42:58 Introduction and Discussion on Major Infrastructure Projects 44:05 The Role of APM and Other Associations in Major Projects 46:56 AI in the Body of Knowledge and the Challenge of Keeping Up 49:30 Collaboration with Government Organizations for Project Assurance 52:58 The Focus on Project Controls in APM 57:13 The Importance of Data and AI Literacy for Project Professionals 01:03:09 The Impact of AI on Project Managers and Project Management Skills 01:09:45 The Future Role of AI as Personal Assistants for Project Professionals 01:14:21 Five Quickfire Questions 01:17:28 Final Thoughts and Encouragement to Join the Project Management Profession 01:18:55 Outtro template A.mp3 Proudly sponsored by ⁠ Deltek…

The Project Chatter Podcast

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S8E187: Goal Setting with Clement Kwegyir-Afful 1:14:18

52 weeks ago1:14:18

1:14:18

In this pod the lads have a conversation that explores the topic of goal setting and its importance in personal and professional development. The guest, Clement Kwegyir-Afful, shares his journey of discovering his purpose and passion for helping others achieve their goals. He emphasizes the need for a strong why and belief system, as well as the importance of setting process goals to achieve desired outcomes. Clement also discusses the influence of culture on goal setting and the role of motivation and habits in achieving goals. In this conversation, Clement Kwegyir-Afful discusses the importance of belief systems, mindset, and self-reflection in achieving goals. He emphasizes the role of emotions, attitudes, and mental models in driving behavior. Clement also explores the balance between discipline and having the right plan, as well as the impact of fear and purpose on motivation. He highlights the need for self-determination and the dangers of being driven solely by fear. Additionally, he addresses the misconceptions about leadership and the importance of setting meaningful goals. Clement recommends the book 'What to Say to Yourself When You Talk to Yourself' by Chad Hemelster as a valuable resource for transforming the subconscious mind. Proudly sponsored by Deltek…

The Project Chatter Podcast

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S8E186: Strategic Misrepresentation with Roger Garrini 1:13:40

1 year ago1:13:40