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A stochastic process is about the results of convolving probabilities-which is just what management is about, as well.
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p. 58

 

Anthony Stafford Beer

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Results rarely specify their causes unambiguously. If we have no direct evidence of fossils or human chronicles, if we are forced to infer a process only from its modern results, then we are usually stymied or reduced to speculation about probabilities. For many roads lead to almost any Rome.

 

Stephen Jay Gould

 

Hard science gives sensational results with a horribly boring process; philosophy gives boring results with a sensational process; literature gives sensational results with a sensational process; and economics gives boring results with a boring process.

 

Nassim Nicholas Taleb

 

That's all window dressing. That's not fundamental. That's not getting at change and the transformation that must take place. Sure we have to solve problems. Certainly stamp out the fire. Stamp out the fire and get nowhere. Stamp out the fires puts us back to where we were in the first place. Taking action on the basis of results without theory of knowledge, without theory of variation, without knowledge about a system. Anything goes wrong, do something about it, overreacting; acting without knowledge, the effect is to make things worse. With the best of intentions and best efforts, managing by results is, in effect, exactly the same, as Dr. Myron Tribus put it, while driving your automobile, keeping your eye on the rear view mirror, what would happen? And that's what management by results is, keeping your eye on results.

 

W. Edwards Deming

 

“The essence of investment management is the management of risks, not the management of returns. ”

 

Benjamin Graham

 

Dr. Cleland was among the first to see project management strategically as well as tactically, at the center of organizational competencies... It's hard to believe, but there was a time when it was new and unfamiliar. Dr. Cleland was a driving force behind the adoption of project management as a professional competency, and is a key contributor to the success of all organizations that use professional project management standards and methodologies today.

 

Gregory Balestrero