Analyze The Complexity Of The Problem †MyAssignmenthelp.com

Question: How Does Knowing A System Is Complex Help Me? Answer Knowing a system helps me a lot to understand the system precisely. As an example it can help me understand a situation of corruption in a company and analyze the complexity of the problem and take important decision to solve the problem (Heagney 2016). Corruption is a major issue in trade and often it is very crucial to take necessary decision for the managers in order to resolve the same (Kerzner and Kerzner 2017). The Kurtz and Snowdens Cynefin framework is a conceptual framework which can be used by the managers or policy makers to reach at a decision of a critical case such as ethical dilemma or corruption in trade and so on(Lock 2017). The Kurtz and Snowdens Cynefin framework has a total of five decision making contexts(McLeod and Childs, 2013). The domains are named as simple,complicated,complex,chaotic, anddisorder (Childs and McLeod 2013). These five contexts help managers to perceive situations and to make sense of their own. Corruption in trading has been a major issue for any business firm. The reasons of corruption are various and not only the taking of bribe is considered as corruption but also other activities which can harm the organization for some individuals own benefits(Puik and Ceglarek 2015). The reasons of corruption in trade are mainly because of intention to earn more and without any effort(O'Connor and Lepmets 2015). The process of knowing a system has helped me to understand the critical problems and deal with it in the field of project management. The concept helped me to understand the various aspects of the problem related to project management and deliver solution of it effectively. I am now able to understand what are the consequences of the decision taken by me and the benefit company to resolve the issue. Knowing a system plays a crucial role where the decision which has to be taken is sensitive in nature. The corruption can severely harm the trade and is unethical according to business ethics standard. The case of corruption comes under the complex context of the cynefin framework(French 2013). The framework has made me understood how the dilemma and situation can be solved by taking proper decision as a project manager and help the company and other stakeholders to work properly and ethically(Flynn and Speier 2014). As an example I can say a such situation is when a supervisor sales som e products at cheaper price to clear the stock of the company. Here the company is getting lower amount of money for selling the product though the mid level sales supervisor is unethically earning some money from the customers by providing them the products at a much lower price than the printed price of the product. The case here is the sales manager though clearing the old stocks and avoiding loss due to expiry of product but at the same time the company is earning less to do that. The lesson has taught me how to take care of all the stakeholders of the company and provide a suitable solution. My case understanding was backed by the concept of the subject and the process of decision making was also done by me taken into consideration all the factors. Systems engineering The systems engineering is another key concept of the course which I learnt. I have got the basic concepts of system engineering. The system engineering has empowered me to execute an interdisciplinary which ensures that the consumer along with otherstakeholder's demands are met in a great quality, believable, low in cost, quick efficient in working and compliant with the schedule manner throughout a system's entire product cycle(Girault and Valk 2013). This method is mainly a combination of the below mentioned seven tasks:describe the problem,Investigate other options,Model the system,Integrate,Launch the system. SIMILAR which is acronym of :State,Investigate,Model,Integrate,Launch,Assess andre-evaluate (Schumacher, Fernandez-Buglioni, Hybertson, Buschmann and Sommerlad, 2013). The process of knowing a system has helped me to understand the critical problems and deal with it in the field of project management. The concept helped me to understand the various aspects of the problem re lated to project management and deliver solution of it effectively (Hitomi 2017). I am now able to understand what can be the consequences of the decision taken by me and the benefit company to resolve the issue. It is very crucial to consider the fact that the procedure of Systems Engineering does not happen in chronological manner. The functions are done in a parallel and repetitive manner(Adams, Hester, Bradley, Meyers and Keating 2014.). I have learnt how systems engineering can cater the needs of the project manager and helps to efficiently manage the project and ultimately contributing to the common goal of companys financial growth. The concept has taught me how the cross functional teamwork can be the backbone of success of any project. Despite of the method of roles distribution up on an assigned project, the most suitable process to eliminate any type of confusion is to unambiguously demonstrate the roles to be played and job duties of the project manager and the systems e ngineer, and obviously other concerned members of the project team (Sadraey 2013). The Project Management Plan (PMP) and the Systems Engineering Management Plan (SEMP) are actually the two most important documents those are used to characterize the processes and methodologies of the project will use to complete the project and supply a product or service provided. The successful completion largly depends on how the system was monitored and managed by the project manager. I have understood that the project has several points where important decisions have to be made. The system engineering plan or SEP is a vital system to execute a project properly. Apart from the technical skills the project management skill is equally important. The example can be given such as a new project manager who is inexperienced if appointed to a project which is previously monitored by any senior supervisor of the company then in that case the new project manager has to understand the whole machinery and t he integrated management involved in it. A project manager can effectively contribute to the project only if he has proper knowledge about the systems engineering and clear understanding of the requirements of the project. A system engineer is also integrated part of the management and also responsible for the success of project. The lesson has taught me how to take care of all the stakeholders of the company and provide a suitable solution to a problem related to project management. I have gained the capabilities of solving the issues related to project management. System thinking is a point of view which is supreme on authenticity, a viewpoint that emphasizes our knowledge about wholes and how the parts of them within those are related to each other. When a system is adjudged as a amalgamation of system elements, systems thinking accepts the dominance of the system and the supremacy of the inter-relationships of the system parts to the whole(Kennedy, Sobek and Kennedy 2014). Syste ms thinking procedure happens through innovation, learning, identification, and dialog that results in sensing, modeling, and talking about the actual-world to better comprehend, demonstrate, and work with systems. A thinker of systems has knowledge about how systems get attached with the bigger framework of daily life, how they behave, and how to manage them. I understood the whole concept of the systems engineering and why it is important to get information about the system engineering to contribute to the concept of project management. Being a project manager the concept of cross functional teamwork is important for me to understand as I need to monitor the activity of every department involved in my project and to track efficiency(Neches and Madni 2013). The case which is mentioned before can be solved if the new project manager first understand the project requirements and other standards of the project before taking responsibility. In this case the project manager should be gu ided by the experienced supervisor who has been in charge of the project for long time before the manager took responsibility of the project. By this decision both the project manager and the supervisor can work collaborate and the project can be successful. Systemic Risk System risk can be defined as a risk which can create possibility that an incident can create a risk for the project and the company in long run which may affect its financial growth and may be a instability inside the company. The systemic risk can also cause in economic breakdown of the company. The fact is that the systemic risk is a big threat for any company. The financial growth can be stagnant of any stalwart of the industry due to the wrong systemic risk taken and the consequences can be even shutdown of the project or company. An example of systemic risk is the case of Lehman Brothers companys size and incorporation into the economy of USA entitled it a basis of risk related to systemic. When the company shut down its operations, this major incident created major problems in the whole tenure of thefinancial systemand the whole economy of the USA. Capital markets became frozen up although businesses and customers or borrowers could not avail loans, or could only get loans if they had enormous credit ratings, resulting very low risk to the lender of the loan amount. Concurrently, AIG was also facing huge loss resulting in huge financial crisis. Similarly like Lehman, AIGs interconnected nature with other institutions dealing in finance constructed it as a foundation of systemic related risk at the time of the financial crisis situation. AIGs assortment of property bound to subprime collateral securities and its taking part in theResidential Mortgage-Backed Securities(RMBS)market via its securities-lending program resulted to calls of security, a loss of liquidity and a downfall of AIGs credit related rating when the cost of those securities got reduced. While the U.S. government did not support Lehman with funding, contradictorily it determined to bail out AIG with financial assistance, loans lending a sum of more than $180 billion, to rescue the company from going bankrupt. Analysts and regulators trusted that an AIGbankruptcy would have initiated the s eries of bankruptcy of several other financial organizations as well. The case taught me about the systemic risk and how it can affect a company. The systemic engineering is a vital factor for any project. The systemic engineering lesson taught me how to deal with complex problems of the project management and take decision in critical situation. The knowledge of systemic risk helps to predict the risk beforehand and take necessary action. The systemic risk in stock market analysis is an integral part. The stock market always goes up and down on various factors and investing in stock market is always risky and the knowledge of systemic risk helped me to understand the analysis of stock market and predict the possible up and down of share price due to various factors. I understood the process of calculated risk taking in stock market from this course. I realized how the market goes up and down and how to handle the situation by analyzing the systemic risk and predict the future risks associated with it. The concept of stock market can be understood clearly and how the systemic risk helps to analyze the situation and take decision accordingly. I have learnt the working methodology of the stock market and how systemic process affects the stock market. Systemic risk can significantly reduce the stock price because of a tiny initiating event. As an example we can consider the case of US raising the interest rates by a tiny amount because the economy of the country is improving gradually. The situation here is if the economy is improving and the result of it is the government raises the interest rate by a tiny amount which will lead to the more profit of the state and other banks. The raise in interest rate will not allow the consumers to spend more as it can lead to the ripple effect of increased spending by the consumers throughout the economy. The businesses and farmers though suffer from raising of interest rate charged by the government as it will increase the borrowing price and will not encourage them to buy more equipments. The raising of interest rate or falling also affects the psychology of consumer and business. The interest rate if rises then both the customer and businesses cut down their spending. On the other hand if the interest rate is lowered the consumers spending is more hence the stock price rises. The investors also have more amount to invest in business if the interest rate gets lowered. They get many investing option along with greater amount of dividend for the investment they make. The investors earn more in this case and the businesses also get proper amount of funding from the investments in the business. The problems which are likely to be found in project management was solved by me with the concept I got from the subject of study. I am now able to analyze the stock market and how tiny initiating events affect the business and controls the stock price in stock market. Tiny initiating event concept The tiny initiating events such as raising of interest by US rising the rate of interest is an example of tiny initiating event. The tiny initiating event concept can be understood and it helps to analyze and take crucial decisions when applied to a problem related to project management. I have learnt from the concept how the economic problems related to a project can be solved from the concept of the course. A project manager often has to face such crisis while managing a project. In such cases the concept of tiny initiating events such as rise in interest rate can affect the project financially. The economy related to the project can be understood from the concept and hence the problems and decision making situation can be dealt with the knowledge. I understood how the rise and fall of the interest rate affects a business economically. The investment made in a business and how it is affected. The profits which investors gain along with the investors also have more amount to invest in business if the interest rate gets lowered. They get many investing option along with greater amount of dividend for the investment they make. The investors earn more in this case and the businesses also get proper amount of funding from the investments in the business. The concept thus helped me to understand the project management related issues and solve them easily. A project manager can effectively take part in the project and contribute to the project only if he has proper knowledge about the engineering, tiny initiating events and clear understanding of the requirements of the project. A system engineer is also integrated part of the management and also responsible for the success of project. The lesson has taught me how to take care of all the stakeholders of the company and provide a suitable solution to a problem related to project management. I have gained the capabilities of solving the issues related to project management. It is an unique perspective in real life, a viewpoint that sharpens our awareness of systems and how the parts within those wholes interrelate. I understood from the tiny initiating events that the perspective of the tiny initiating event. References Adams, K.M., Hester, P.T., Bradley, J.M., Meyers, T.J. and Keating, C.B., 2014. 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