Great leaders are constantly making balanced decisions based on risks and rewards. Today on Inspiring People & Places, we discuss how leadership affects project outcomes.
In this solo episode, you’ll hear all about how the late Irv Richter and Hill International inspired BJ to think about what leaders do to drive successful project outcomes. We discuss the art of project management before breaking down the Army’s Composite Risk Management process and its principles. Finally, BJ explains why he believes a great leader synthesizes a risk/reward matrix in their head in order to drive project success.
You don’t want to miss this one so be sure to tune in now!
Key Points From This Episode:
• The importance of risk management and what leadership has to do with it.
• Why BJ believes that there is an art and a science to risk management.
• What risk management has to do with leadership: everything!
• Why you should avoid unnecessary risk and accept it when the benefits outweigh the costs.
• The incredible risk/reward matrix leaders balance in their heads.
Quotes:
“Risk management is a leader’s job.” — BJ Kraemer
“The art of decision making is knowing when you can accept some risk in order to maintain project momentum or project success.” — BJ Kraemer
“Great leaders have a continuous risk/reward matrix going on in their head and they know when to slow things down, they know when to call [a] halt, and they also know when to speed up even though there may be some risk associated with whatever the outcome is.” — BJ Kraemer
Links Mentioned in Today’s Episode:
What is Leadership Blueprints?
Leadership Blueprints is the podcast where leaders in the built environment learn to disrupt the status quo, improve their project teams, and steward public and private investments more effectively. Your host is BJ Kraemer. As the President and CEO of MCFA, BJ has navigated the complexities of the architecture, engineering, construction, and development industry. With a blend of interviews with national industry leaders and solo episodes filled with stories, tips, and lessons, Leadership Blueprints is your weekly source of inspiration and practical advice. By tuning in, you will learn how to challenge conventional processes, enhance team performance, and manage projects more effectively, paving the way for innovation and success in the built environment. Join BJ each week for a deep dive into the strategies and mindsets that drive real change and lead to real results.