Col laborat ive ly Dr i l l ing Oi l in the Dark Hol lows o f the Ear th
By Kishore Jethanandani
Dr i l l ing Engineers na...
A typ ica l case of o i l and exp l orat ion companies encounter ing
Catch-22 s i tuat i ons is that of PEMEX which ran in...
Col laborat ing away f rom the br idge
By Kishore Jethanandani
Scheduled meet ings and conference br idges were synonymous...
of employees can view the same content and confer to come to
act ionab le dec isions . Each of the par t ic ipants gains a...
Gen X and Y pre f er impersona l rela t ionsh ips wi th wea l th
managers
By Kishore Jethanandani
High touch has always be...
rece ive f rom one of the weal thies t generat ion of forebears ,
they a lso are l i v ing in a per i lous economic env i ...
spending ava i lable on l ine so that i t is access ib le anywhere
anyt ime.
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My blogs on collaboration

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My blogs on collaboration

  1. 1. Col laborat ive ly Dr i l l ing Oi l in the Dark Hol lows o f the Ear th By Kishore Jethanandani Dr i l l ing Engineers navigate hazardous o i l well s in ear th ’s dark ho l lows not in the manner of the swashbuck l ing Ind iana Jones but co l labora t ive ly wi th s ta id geophys ic is ts and geolog is ts who parse terabytes of data to ca l cu la te the r isk of the next cascade of rocks or an exp los ion. 3D visua ls of se ismolog ica l data , super imposed wi th sensor fed rea l - t ime data , he lp of fs i te pro fess iona ls to co l labora te wi th engineers work ing a t we l l - s i tes . The dr i l l ing mach ines a lso generate st reams of data wi th an array of sensors used for wel l logg ing. The data i s t ransmi t ted to remote s i tes where i t is aggregated and is access ib le to geolog is ts and geophys ic is ts . These sensors can read geolog ica l data such as hydrocarbon bear i ng capac i ty of rocks as wel l as the data re lated to the r ig operat ions such as the boreho le pressure , v ibrat ions , weight on the dr i l l and i t s d i rec t ion and much more a l l in the context o f the wel l envi ronment . A major breakthrough has been ach ieved wi th the abi l i ty t o pool data coming f rom a varie ty of sources in a s ing le repos i tory wi th help f rom standards under the rubr ic of Wel ls i te In format ion Transfer Spec i f ica t ion (WITS) . The ava i lab i l i t y of a storehouse of wel l data opens the way for a bevy of f i rms, spec ia l ized i n read ing the geolog ica l and operat ions data , to f ind pat terns and guide engineers to f ind the most opt imal ways to exp lore and produce oi l in complex wel ls in the depths o f the ear th and the oceans.
  2. 2. A typ ica l case of o i l and exp l orat ion companies encounter ing Catch-22 s i tuat i ons is that of PEMEX which ran in to the dead end of a sa l t dome underground. The al ternat ive was to c i rcumvent the dome. The rub was the r isk of get t ing in to a quagmire of mud. A game plan was cra f ted over eight months in co l laborat ion wi th a mul t id isc ip l inary sta f f that inc luded pre l iminary test ing , 3D model ing and simula t ion and cont ingency p lanning. The enti re exerc ise determined that except iona l pressures were l ike l y to be encountered due to the presence of the sa l t dome in the vic in i ty of the a l ternat ive route compounded by a host o f o t her probab le r isks. For managing the r isks , a predi c t i ve model was wr i t ten based on the ava i lable geo log ica l data and i ts per formance was moni tored by compar ing i t wi th the actua l performance data, generated dur ing dr i l l ing . The var iance between the pred ic ted va lues and actual s revea led unant i c ipated hazards and in formed act ion p lans that eng ineers cou l d use to dea l wi th r isks . The oi l f ie lds today range f rom the icy Ar t ic wi t h i ts sh i f t ing i cebergs and thawing permafrost to the rag ing storms at the deeper ends of oceans wi th t hei r eas i ly igni ted submar ine methane and the cavernous rocks of sha le o i l . Oi l companies look to pro tect the i r mul t i -b i l l ion do l la r investments in the pro jec ts and thei r s ta f f f rom cer ta in death i f any of the r isks are mis j udged. For tunate ly , they have accumulated mul t id imens iona l data now avai lable on a standard pla t form. 3D v ideo co l laborat ion br ings together the human ta lent f rom dis tant locat ions to crack the codes that he lp to improve the standards o f sa f ety and e f fec t iveness.
  3. 3. Col laborat ing away f rom the br idge By Kishore Jethanandani Scheduled meet ings and conference br idges were synonymous when co l laborat ion was only poss ib l e in rooms. Enterpr ise v ideo conferenc ing now is ak in to the f low of news feeds on news channels—news breaks at any locat ion at any t ime and the broadcast ing company has to be able to connect wi th i ts sources wherever news breaks. Financ ia l serv i ces indust ry is typ ica l of confe renc ing needs these days. News impinges on dec is ions on asset a l locat ions. Decis ions on t r ading tac t ics f or der iva t ives are recons idered when news breaks about macro-economic ind icators. Traders work wi th Main St reet c l ien ts , such as buyers of energy hedges in the ut i l i t y indust ry , who are l ike ly to be in some remote plant s i te . The i r meet ings are impromptu and some of the par t ic ipants are unl ike ly to be ava i lab le at conference br idges. A study by Frost and Sul l i van found that v ideo conferenc ing systems and Telepresence so lu t ions are some of the least used of the devices ava i lab le to users . Video conferenc ing systems were repor ted to be not used at al l or sporad ical l y used by 69 percent of the users whi le the numbers for ons i te and of fs i te Telepresence systems were 75 percent and 79 percent . By cont ras t , the number for mobi le phones is 54 percent . Clear ly , the f lex ib i l i t y to ho ld a conference anyt ime and anywhere helps to ho ld conferences on smar t phones. The emerg ing p l ayers in the v i deo conferenc ing bus iness are incorpora t ing streaming v ideo into the workf low so that a team
  4. 4. of employees can view the same content and confer to come to act ionab le dec isions . Each of the par t ic ipants gains access to a conference from a browser us ing any devi ce anywhere or appl ica t ion whether Skype or Google Hangout . The sof tware can be eas i ly in tegrated wi th corpora te d i rec tor ies , ident i fy exper ts , send not i f i ca t ions to prospect ive par t ic ipants and help to choose and connect t o a communicat i on too l whether ins tant messenger , a ce l l phone or a v ideo-conferenc ing device depending on the need. This group of companies i nc ludes Magor , Vidyo, and B lueJeans Network . The dis t inc t ive feature of the so lu t ions f rom a company l ike Magor is that i t has the f lex i bi l i t y to inc lude any content tha t is needed to he lp a team f ind a so lu t ion. Publ ic safe ty agenc ies these days crowd source in format ion dur ing emergenc ies f rom the smar t phone cameras of c i t izens. In a wi ld f i re inc ident , for example, they could be get t ing feeds f rom neighborhoods which most need help f rom f i re rescue teams. The superv is ing leader can ident i fy the cameras wi th help f rom the i r GPS and disp lay the i r feeds whi le dec id ing on the tac t ics to t amp the f i re in the targeted locat ion. Meet ings are held to f ind a solu t ion to unreso lved prob lems of ten in unexpected s i tuat i ons. Serend ip i t y is common, espec ia l l y in cr i t i ca l condi t i ons, when members bounce ideas before they come to a conc lusion . An in teract i ve and f lu id v ideo conference is a help to examine assumpt ions and s imulate the outcomes for a l te rnat ive dec is ion choices. The new video conferenc ing tools are empowered wi th the i nte l l igence of the i r so f tware t o f ind and parse content and data they need.
  5. 5. Gen X and Y pre f er impersona l rela t ionsh ips wi th wea l th managers By Kishore Jethanandani High touch has always been the mant ra in the c lo is tered wor ld of weal th management adv isors . Baby Boomers valued in -person communicat ions wi th the i r adv isors and paid p l um fees. Gen Y and Gen X have grown up wi th t he se l f -serv ice cu l ture of the web and are leery about the exorbi tant fees. In ternet research is a lso second-nature to Gen X and Gen Y and they prefer f i nanc ia l content del ivered on co l laborat ive dig i ta l weal th - management p la t fo rms. Advisors are seen to be seers who help them guard against mis judgment in assessment of f inanc ia l t rends and data. The star t l ing fac t i s that on ly 2 percent of the bequests to adul t ch i ld ren cont inue to be managed by the advisors to the i r parents . Gen Y and Gen X prefer an arm’s length re lat ionsh ips wi th the i r weal th advisors . Whi le st i l l neophytes in f inanc ial dec is ion-mak ing, Gen Y and Gen X prefer to make the i r own dec is ions ra ther than delegate them to the i r advi sors . They do need help to fi l te r and ass imi la te the f inanc ia l data and commentary and consu l t wi th exper ts before coming to a dec is ion. One study found that onl ine educat ional v ideos were the most popular among Gen X and Gen Y close l y fo l lowed two other opt ions; on-demand video conferenc ing wi th f inanc ial plann ing exper t s for consu l tat ions and co l l aborat ion wi th advisors to comple te documentat i on for f inanc ia l p roducts . The demand for f inanc ia l adv ice f rom Gen X and Gen Y has only grown as the cost of poor dec i s ions has sky- r ocketed. Whi le Gen X and Gen Y wi l l benef i t f rom the bequests they wi l l
  6. 6. rece ive f rom one of the weal thies t generat ion of forebears , they a lso are l i v ing in a per i lous economic env i ronment . Al l the consequent i al l i fe events , such as purchase of a home, heal th , co l lege educat ion, carry wi th them enormous downside r isks wi th potent ia l l y devastat ing impact in an increas ing ly vo la t i le f inanc i al env i ronment . Gen X and Gen Y are ins t inc t ively inc l ined to par t ic ipate in onl ine communi t i es where they can learn f rom the exper iences of the i r cohor t s. Weal th managers can gain thei r loya l ty by br ing ing the i r exper t ise to such communi t ies and in terac t ing in the conversat ions on the i r pr iva te co l laborat ive p la t forms or protec ted groups wi th in pub l i c soc ia l communit ies l inked to the i r s i tes . The use of soc ial media by Gen Y as wel l as Gen X for ga in ing knowledge about persona l f inanc i al management is so widespread tha t i t cannot be ignored. Accord ing to a research study conducted by Cogent Research and quoted by Pr iceWaterhouseCooper , 44 percent of Gen X and 70 percent of Gen Y have used soc ia l media for personal f inance and investment . Wealth managers have been wary of communicat ing on soc ia l media s i t es because of regula t ions. The complex i t ies of compl iance notwi ths tand ing, some l ike PIMCO, Frank l in Temple ton, T Rowe Pr ice have a r obust soc ia l media presence. Onl ine co l laborat ion and dis t r ibut ion of content has upped the ante for weal th managers . In teract iv i ty and thought leadersh ip on onl ine channel s counts for a lo t more than t rus twor th iness as was the case in the past . And c l ients need ass is ted f inanc ia l adv ice for asset a l locat ion as much as for smar t
  7. 7. spending ava i lable on l ine so that i t is access ib le anywhere anyt ime.

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