WHAT THE HELL IS PROJECT MANAGEMENT, ANYWAY?

Project management seems like a classic chicken-and-egg career conundrum: How do you prove you’re adept at managing projects if you haven’t worked as a project manager? Beyond that, what does project management really entail, and how is it different from, you know, being a manager? And what tools do the pros actually use, since there seem to be a new one released every week?

“PROJECT MANAGEMENT” CAN SOUND LIKE EVERYTHING AND NOTHING ALL AT ONCE. WE SPOKE WITH A PROJECT MANAGEMENT PRO TO CLARIFY WHAT IT REALLY MEANS TO GET PEOPLE MOVING IN THE SAME DIRECTION.

To better understand some of the managerial speak around project management, I spoke with a 20-year veteran of the field, Frank Ryle. He’s worked as an international project manager for Arup International, managed construction and operation of the first Cadbury Schweppes factory in Russia, and now trains and teaches project management. Ryle analogizes project management to a nine-hole golf metaphor in his book, Keeping Score: Project Management for the Pros, available now as an ebook and due out soon in paperback.
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Will Smart Machine Create a World without Work?

Paul Wiseman and Bernard Condon, The Associated Press, Washington | World | Fri, January 25 2013, 12:22 PM

They seem right out of a Hollywood fantasy, and they are: Cars that drive themselves have appeared in movies like “I, Robot” and the television show “Knight Rider.”

Now, three years after Google invented one, automated cars could be on their way to a freeway near you. In the US, California and other states are rewriting the rules of the road to make way for driverless cars. Just one problem: What happens to the millions of people who make a living driving cars and trucks —jobs that always have seemed sheltered from the onslaught of technology?

“All those jobs are going to disappear in the next 25 years,” predicts Moshe Vardi, a computer scientist at Rice University in Houston. “Driving by people will look quaint; it will look like a horse and buggy.”

If automation can unseat bus drivers, urban deliverymen, long-haul truckers, even cabbies, is any job safe?

Vardi poses an equally scary question: “Are we prepared for an economy in which 50 percent of people aren’t working?”
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How Draghi Opened The Door To Hyperinflation And Denied The Fed An Exit Strategy

We finally heard the intentions of Mr. Draghi, President of the European Central Bank (“ECB”). We only need to know the conditions Germany’s Verfassungsgericht will impose on September 12th. We believe they will be relevant.

On Thursday, Draghi told us he intends (1) to purchase sovereign debt in the secondary market, (2) that before he does so, the issuing country must submit to certain conditions within a fiscal adjustment program, (3) that when he finally buys the debt, he will buy any debt (new or outstanding) with a maturity lower than three years, (4) that after buying it, he will sterilize the transaction, (5) that the collateral pledged so far for liquidity lines will not be subject to minimum credit ratings any longer, (6) that the ECB will accept to rank pari-passu with other creditors going forward, and (7) that the Securities Market Programme will be terminated, with the purchased debt held until maturity. According to Mr. Draghi (but not toGermany), buying debt with a tenor lower than three years does not constitute government financing. The number three, it seems, is a magical number.

We will mince no words: Mr. Draghi has opened the door to hyperinflation. There will probably not be hyperinflation because Germany would leave the Euro zone first, but the door is open and we will explain why. To avoid this outcome, assuming that in this context the Eurozone will continue to show fiscal deficits, we will also show that it is critical that the Fed does not raise interest rates. This can only be extremely bullish of precious metals and commodities in the long run. In the short-run, we will have to face the usual manipulations in the precious metals markets and everyone will seek to front run the European Central Bank, playing the sovereign yield curve and being long banks’ stocks. If in the short-run, the ECB is the lender of last resort, in the long run, it may become the borrower of first resort!

The policy of the ECB resembles that which the central bank of Argentinaadopted in April of 1977, which included sterilization via issuance of debt. This policy would result in the first episode of high inflation eight years later, in 1985 and generalized hyperinflation in 1989. Indeed, Argentina’s hyperinflation was not caused by the primary fiscal deficit of the government, but by the quasi-fiscal deficit suffered by its central bank. We will not elaborate on a comparison today, but will simply show how the Euro zone can end up in the same situation. To those interested in Argentina as a case study, we recommend this link (refer section II.2 “Cuasifiscal Expenditures”, page 13 of the document)