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.