Project & Operations Management PDF

I was recently in San Francisco, and I saw many more driverless cars. I don\'t know if you\'ve heard about them or seen them going around the city without drivers. If you don\'t use your app to push the button to open the car, it doesn\'t open. If you don\'t input your destination, the car doesn\'t...

I was recently in San Francisco, and I saw many more driverless cars. I don\'t know if you\'ve heard about them or seen them going around the city without drivers. If you don\'t use your app to push the button to open the car, it doesn\'t open. If you don\'t input your destination, the car doesn\'t go. These apps nowadays are full of questions for you, and they ask you to provide information. Google has said that the future is based on creating cooperative data. Maps already---like Google Maps---start asking you if a certain road or lane is still closed. So this cooperative attitude, this generation of content, is not only artificial but also based on human information, requiring everyone to be part of it. I also like the intersection of this concept behind the word \"cooperation.\" It\'s very important---not only between projects and operations but in any professional sphere. The goal is to get in touch and to be influenced by colleagues who do other things, integrating projects with strategic operational goals. When you align a project with the business strategy, you do what the company wants to do. So when a project is chosen, it\'s not only because it\'s good for society, or good for the ownership, or good for the shareholders, but it\'s also chosen because my colleagues, my team, or my teams can work in a better way. That\'s why I brought up names like \"operational capabilities\" or \"result operation efficiencies.\" If I see that those projects, those operations like replacing tires, help make the car---in Formula One, they arrive at the end---I might decide to have a strategy that decreases the number of times I replace tires, for instance. So what I want to say is that when you choose a project, you take into account from the very beginning what you need to do to make that project successful. You know, in the economy and in the literature, over the years, you\'ve had these two types of businesses: what is called labor-intensive and capital-intensive businesses. In the past, if you said, \"I want to start a company producing cars,\" you knew in advance that you needed a lot of money to buy commodities, to hire engineers, to develop software, and so on. That business was defined as a capital-intensive business---requiring a lot of money to start and structure. On the other side, you had, especially software houses, saying, \"No, you need just three or four developers, very strong, very cool, who write lines of code and develop software.\" And then one day, someone said, \"You know, I can be the biggest hotel company in the world by being labor-intensive and not capital-intensive.\" So what I mean is that you can have just cool people because labor-intensive means having very effective human resources, which cannot be copied by others, cannot be acquired by others. But if you need to provide a hotel room, how can you build it labor-intensive? Or if you have to provide a car, you can be labor-intensive. What I want to say is that in operations, technology broke through. And when technology broke through, thanks to satellites and other real-time tools, someone could say, \"You know, if you have a car, if you have a smartphone, you download my app, you say where you are, and I tell someone who is searching for a car where you are. I tell you, I tell him or her a few things about your car, about who you are, because someone will review you. Everyone will review at the end of the ride with Uber.\" So in the past, the business of Uber was a capital-intensive business. You needed money to buy cars, you needed money to hire people, you needed to make huge periodic expenditures in car maintenance. Now, you just need to give a label that drivers can place on their black cars, and they can drive you. You take the car, you rent the car to the driver, and in the morning, whether he drives or doesn\'t drive, he gives you \$70 to \$100, according to the level of the car. It\'s the same with Airbnb or other options of giving a room, a space, a hotel, or an apartment. So who runs the business, getting a percentage that goes from 20% to 30%, does not own a car or does not own a hotel. You know, when it comes to ChatGPT, for instance, or Copernicus or Gemini, one of the strongest impacts will be on pharma, guys, or on finance. I want to show you---in Italy, I don\'t know if this is the same---these are my new magazines that I started to read days ago. And I bought the international one, and it\'s not the latest one, but there is an incredible set of metrics to understand in which industry ChatGPT will impact and what it will do. We keep moving from capital-intensive to labor-intensive. So far, the digital era with artificial intelligence in terms of algorithms, research, optimization---Google and so on---was already artificial intelligence. But generative artificial intelligence is moving us from labor-intensive to tech-intensive, and except for a few others, not many are saying that. So when it comes to drug discovery, maybe those who have already worked in pharma know that you started by making some assumptions and adding, for example, the will to work on ten proteins to develop a new molecule. Now, you do the sketch of the molecule and, through mathematical trials, you can exclude out of ten previously considered feasible paths, five of them, eight of them. What does it mean? That the time you need to discover a new drug is shortened. The number of people you can place on one project is increased. Why? Because if you had ten possible new drugs to solve the same problem and you exclude five or six of them, you can, keeping the same team in terms of the number of people, assign more human energies to the project, and obviously, you make the company more efficient. You remember what I told you before: if you get your master\'s certificate in March, you are more efficient; you stay effective. So the generative artificial intelligence and general artificial intelligence that is going to appear in one year at most will move the competition to detect options to be used preliminarily to the development of the business, of the product, of the service. This is something that I want to tell you very clearly. In projects, the generative artificial intelligence is less impactful on the operational side. Operations were already transformed by artificial intelligence. Can I know who of you---just yes or no---uses on a daily basis ChatGPT in their work to formulate better emails or for technical reasons? Yes or no? Sometimes, yes. We, yes, almost every day. Whoever wants to share in what ChatGPT is helping her or his daily work, I would like to listen to. Yeah, hello. Good evening, everyone. I mean, I work as a tourist guide, and so it\'s very useful to me to create scripts or input some data and create PowerPoint presentations in the blink of an eye. So I use it every day. Of course, you need to check everything; many times I have seen inconsistencies, but it is very, very useful, and it\'s less time-consuming for each project. It speeds your way of working. It makes you more precise on something that you are able to judge because when you see the result, you understand if the quality is good or not. Exactly, because many times you know what you want to say depending on who is the audience, and it helps minimize the empty words, you know, just gives you the correct point depending on the point of interest. Absolutely. And then I found the cover of the latest Italian Harvard Business Review that says \"Adopting Generative Artificial Intelligence on the Job,\" which is what you need to talk about. That is, I don\'t use GPT to discover something new, but we have quicker access to what I know might work. But you are surprised sometimes by the quality, the high quality of the outcome you get through that technology. Exactly. I think that it\'s not the best practice to use it as Google, let\'s say. It\'s not here to Google things; it\'s here to enhance the way of your thinking and streamline your work and processes, I believe, at least in my profession. Yes. No, thank you very much for your share. I think this is a typical right usage, and I believe that you understand the importance of using the right command---the prompt. We do know that prompting is the key. Exactly, exactly, exactly. Because at the end of the day, if you ask it again and again, it will give you different solutions and answers, but if you ask it correctly, the correct prompts, then you save a lot of time and inefficiencies. Thank you. Brought more intelligent words used. I would manage to come up with\... This is interesting, and I think that what you are telling us is that ChatGPT or any other system like that makes you a constant learner as well, because that intelligent work now---will make you also able to use that work automatically and independently from GPT from the day after, right? Exactly. Okay, you just go, okay, read very long, sometimes technical emails somewhere. Victoria, do you want to speak? Can you tell us more with your voice? Sure. Given my background in supply chain, I have to deal with on a daily basis not only the operations but also initiative management. Since I am the leader of the execution part, I\'m more involved in both. So I\'m receiving a summary during the project execution, which contains sometimes technical aspects of the project which I\'m not necessarily need to know more---more of a fact that which of those aspects will be having the impact on daily operations. So basically how to sustain the efficiency of operations management. And instead of reading an email which will take me six minutes, and on top maybe two or three to understand in depth what was the sense of the summary, I\'m just sometimes basically using the alternative of ChatGPT in my company, since my company is restricting the usage of the word content in ChatGPT, and I\'m using the alternative, which works very similarly, to have the summary in a brief, let\'s say, form for two to three minutes of reading. So basically you are using this software---it\'s a kind of qualified assistant---to make the story short and to make you focus on what you really need to know most. I\'m using this as an assistant basically in all my job because I\'m having the responsibility for others, for people, and I usually use it for anything that I can write or would need to write myself. So basically if this is some short announcement, short post, or a short email, or a brief introduction of new things---so basically top points when I have a moment---and then I\'m using the alternative of ChatGPT to provide it in a user-friendly form to send via email. So basically you are telling us that you can do more with the same number of hours you work, so it\'s augmenting basically your resources, your internal\... Optimizing my FTEs, yes. Yes, exactly, exactly. Cool, thank you, Victoria. Sometimes it writes strong emails in a very structured and professional way. Also, it gives me insights and ideas when I\'m developing a project. Mena, I\'m interested in the last part of your words: it gives me insights and ideas when I\'m developing a project. Can you give us an example? Hi, yes, sure. So basically I work as a technical assistance project manager, and I develop EU projects for our partners. So sometimes they, for example---I give you an example---they want to have or develop a risk management system in their company. And if I don\'t have a reference project, and if I did my research but I need to see it in a structured way---the steps and activities, how this will be laid out in a project---so I give them generic information, and I see how they structure the product. So it gives me ideas, actually, and of course I need to adapt it to my project objectives. And it\'s reinforcing the brainstorming phase, basically. Exactly, exactly, exactly. And also, my second point, it helps me a lot in drafting a strong, angry email. So sometimes I need to send an angry email to a service provider, and I need to say it in a professional and also in a very structured way. So it helps me to do that, and of course I do the paraphrasing after. For sure, for sure. The language models---I mean, not only the machine learning but also the possibility to express. Who of you is using, for instance, to address a message in the native language of the reader of your message? Is someone doing that experiment or not? Or using ChatGPT or something like that, ask ChatGPT to tell you what is culturally behind a sentence or any students nowadays don\'t use---they just go to jail for assignments because challenging exams. Yeah, yeah. What sometimes I do, just to see, is I write---I\'m a ghostwriter for a CEO from time to time; I write his opening speeches at the beginning of conventions and so on---is to imagine a speech should be addressed to a specific country which is not exactly the country I\'m writing for because I know the business and all the business facts, I know the profit they want to make for the upcoming years. So this is a speech more about numbers and motivating them. But what I ask, I say, imagine that my CEO is Indian and he delivers a speech in London, speaks to a London audience mixed itself. Imagine he speaks in Denmark, and try to bring within that speech Indian aspects that can be received as a cultural enhancement. So you learn something but can transfer the message of the business. I don\'t know if you got me. So using ChatGPT to incorporate, to embody what personally makes the difference in the speaker. So try that. And then I ask it to tell me what literally it brings. So not only writing the speech in the language of the country I\'m addressing the speech to, but also telling me sentence by sentence what is behind. So a way of culturally understanding more. Has someone tried to plan a trip, even a vacation, using artificial intelligence or not? Victor is very active. Martina, for instance. Martina Pastori. Was it interesting? Uh, can you hear me? Yes, yes. And especially, Martina, my question is in planning your trip or your vacation, because basically, as you see, all my questions then come back to the topic we have tonight, and what on the operation side or on the project side. The person that before told us about reinforcing brainstorming is obviously impacting the project side. When Victoria said, \"When I\'m angry, I want to write a nice email, strong and structured,\" this is working on the operations side. So running, explaining a trip, how and which side impacts more? I think from the project part because, for example, I mean, at least I used that for a country that I didn\'t know before. So of course I, you know, had a sort of plan to follow, and of course after I\'m gonna, you know, put some of myself into it. So like, the operational part is going to be later, I think. So I would say project, like the first one. Okay. And when you are on-site, do you keep questioning or not? For example, you have arrived in that country. Do you question artificial intelligence or not? Yeah, I did, but like, for example, I was in Asia, so I started to ask the local people, so, you know, like, I didn\'t use that at all, the artificial intelligence there. But I started, you know, to put other components there, but the project itself, so like the plan that ChatGPT made was, I mean, really great. But of course after, you have to take more information. But for me at least, I didn\'t use that when I was there, at least for me. And when you ask in this project phase, preliminary of the trip, yourself, what do you usually like to see or not to see? Yes, yes, sure. For example, I was searching for some historical points of view. So I started to create a sort of message that I would like to visit the historical part of the city, and I have, for example, four days, I will arrive at this time. So, you know, I give sort of my plan to ChatGPT, and after it creates everything---day one, day two, and so on. So, I mean, it was really good. It was really helpful, I would say. Because again, basically, you make the long story short, and you believe that what you wanted to select was selected by someone else who thought very well about your goals and your personality traits. Uh, I didn\'t catch the question, sorry. No, no, I was surprised---yeah, yeah, yeah---again, saving time but not being afraid to lose what is important to know. Yeah, sure, yes. I think that, you know, you have to give more information. I mean, the more information you give, the better is the result, I think. So it\'s really important. Sure, okay. Okay, thank you very much. Thank you very much. Who else wants to add something? Or some specific usage of artificial intelligence when it comes to work, daily life, or life in general? As you see, I don\'t see very much distance between life and what\'s here in terms of managing all the time project side or an operation side of something you are working on. Someone wants to add something, please. Yes, sir. Yeah, hello. I work with data; if I get some data that\'s very disorganized, then I use it just to organize it because it\'s easier to put in---if, yeah, so I work with---and I have to read manually. So basically to extract better information from data you have, you need to organize them, right? Yeah, yeah. Sometimes I get a PDF, and then when you copy it out, the data is completely all over the place. So then I just use ChatGPT to organize it, and then I can easily put it in an Excel sheet and work with it. This is very cool, and thank you, yes, because you gave me a good bridge to the project portfolio management that you see on the slide, because basically\... One way\... It wants to share which tools do you use, only ChatGPT or maybe there\... So, okay, so what I want to tell you is that in Italy, I\'m director this year of the National Report on Healthcare---well, I would say health system---which will be released on the 16th of November in Rome. And by the way, it\'s in Italian, but I want to produce a short version in English, and I believe that---also here it\'s written \"Artificial Intelligence in Health\"---it\'s very important. So I\'ll share my answer to you and to you guys, and I want also to value what your colleague said---I hope I pronounced it well---that my husband sometimes uses it to look up our sickness symptoms. Amazing. This is absolutely what is going to happen. You know that every day, nearly 300 million people till two years ago were questioning Google about symptoms or drug prescriptions they have got, in terms of understanding what the treatment was aiming for, if the treatment was correct, what those symptoms could be, and so on. This is clear. I think everyone did at least once in life, knowing how long is this COVID, how many days if I have fewer symptoms, more symptoms, if I have this vaccine, if I have flu, etc. But what\'s gonna happen is that already---and there are amazing interviews with the Stanford Medicine dean---you can find some podcasts online. Some use it for emotional support; this is interesting also, maybe the\... But what\'s happening is that already---and they imagine, I mean, the World Health Organization imagines that questioning ChatGPT-like assistants can be useful to determine if you are in an urgent case or not, but also to provide you specific and very protected in terms of privacy and cybersecurity\... \[Connection issues\] Can you hear me, guys? I think that I had a problem with the connection. Okay. So I was saying that I would be---okay, great, thank you---these messages. We are 79 participants that have interacted remotely. In the USA, they were not able to provide a quick appointment with a dermatologist, and they implemented this system that was the following: in the Stanford area in Silicon Valley, you have a problem with your skin, you take a picture of the problem, and you describe what you have by answering a survey. So it\'s well-structured, you don\'t just use different words, you say yes or no, then when it\'s required to specify something, the set of given words is common for everyone. Basically, thanks to this database of so many pictures and the generative analysis of the pictures and what happened later when those people were visited and treated, the entire diagnosis is now very simple instead. Yes, Andrea, exactly, exactly, exactly. Because when it comes to imaging already---I mean MRI, CT, X-ray, and so on---it\'s already proved that an image is read as well as by a good, concentrated, experienced dermatologist or radiologist. But what was possible is that there in the USA, in the areas that dermatologists visit the place not every day because there is remote consultation, but they appoint, and just with people that they consider serious cases, which was evidence-based. And when I say evidence-based, I mean pictures and descriptions that can---and because it comes from the person. So what I try to do is, also because I study very much how to extract the maximum, is to work on better commands or prompts to have at least---and also to give extra different journey points. So for instance, for this report, I have written my bullets, there\'s a logical flow for the introduction. I ask ChatGPT a question, I said, to put me in trouble, telling me which are the weak points. So I use it like a mirror, and that should tell me what I don\'t see that is weak. Obviously, sometimes it\'s totally not working because if you kind of suggest what you believe is weak, it will be used to reinforce the proposal to you, or, you know, tries to seduce you, it doesn\'t tell you if you don\'t know. I tell my friends to pay attention and give them always this example: you ask it, \"Who is Antonio Greywash, who was an architect?\" I invented. It says, \"Sorry, I cannot find information about Antonio Greywash as an artist. Can you be more precise?\" And I say, \"Sorry, I meant Antonio Hanani.\" Now, in that case, ChatGPT believes that you are more precise and goes somewhere searching, takes one element out of the two elements I gave them in surname and tells you the person named Antonio Hanani exists, was a great architect. How they are trying to fix these problems and hallucinations is that they give you the source. If you have sources, you can link, you can click on the source, and you can see where it went to take part of the information. So still, the machine can be triggered by the human being with some unsolved language model issues. And this is what I think that in business should be taken into account: use artificial intelligence to question yourself, to tell where you are weak, to imagine being your counterpart, very aggressively attacking you. Yes, Gemini is the way to try it, that is also developing very much. I think that using the benefit of the big rounds of investment, and obviously because it was the first mover, they told me that it\'s also very good, and other systems more vertical for some disciplines can be---but you see, what we are discussing tonight has to be updated with what technology gives us. So this project portfolio management that can be also structured with the help of ChatGPT or other generative artificial intelligence systems is just the visualization, simple, that you give of the projects to operational people. And the same routines, list of routines, time needed for each operation should be provided visually to the project. In this course, I insist a lot---a lot of very, I would say, old-style technologies, tools that are still valid, actually, if they are well used, if they are improved thanks to artificial intelligence, like this balanced scorecard. Has someone of you used balanced scorecard or strategy maps before? I\'ll explain what they are about. Just a yes or no and the industry you belong to. Balanced scorecard, yes or no, or better just to use this, yes and the industry. In case you never---foreign. Okay, so basically, it\'s something that sounds new to you, and it\'s also---anyway, important. Thank you, everyone. I appreciate it when you write; it\'s very important to know that you have taken this course and these new concepts, Alba, Muhammad, and to understand them. So, what is the balanced scorecard? Let me show you. 20:24 First, the balanced scorecard is something like a weighted combination of four dimensions: finance, clients, internal improvement, and innovation. These are stable elements---finance, clients, internal improvements, innovation. You show your colleagues and company members that we all know a company cannot be successful if you don\'t decide; everybody understands and agrees with that. But also, if you have a great financial structure---meaning tools and people---if you have a good internal set of resources that at a certain point are considered taken for granted, they make the difference. And if you aim to improve and update continuously, those four sides make the base of success. They are translated into very precise information that you give to your company, looking at the past and looking at the future. So when it comes to finance, you know that revenues are very clear and are very stable information. The gross margin is stable, the return on investment is something everyone can understand, but maybe not everyone can calculate. But what are the global revenues of the company? It\'s data that is very stable. Clients as well---if you create clusters, as we said before, or if you get feedback from them, if you see how many products are sent back because they are not working---you have metrics that can tell you if they are happy, how many they are, if they are returning clients, if they are new clients, and so on. Improvement and innovation are something you can measure because you can say, \"Last year, we invested X amount of money in training people.\" Innovation also results in new projects, new products you have. So all these things wait. Then, at the end of the year, you say at the beginning of the year, \"These are the numbers we reached last year. So this is the gross revenue we had, the margin, etc., and for the upcoming year, we have these goals.\" So it balances---it means that it\'s calculated the importance of each of those elements, and it\'s a scorecard looking at the past, as I said, but also is a good way to make a summary of the budget goals ahead of you. That\'s why this tool can be adapted to link project outcomes, good operational performance indicators. Both areas are aligned with set objectives; they would say they feel both important. The strategy map representation shows mostly---I believe that not all of you know what a strategy map is---but big companies might have it, also naming it differently, to show the relationship between goals but also operational processes behind those goals. And again, both this balanced scorecard and also the\... This is, for example, a different way to show the benefits scorecard of Patagonia. You know Patagonia, the brand, right? To challenge cold places. And so you see what they do---they basically try to display how things---the third part of each side---are cause and effect related to other elements. So if you move from here, if you create lifetime employees---so people that don\'t go away for ten dollars more per month---you also create intimacy with customers because customers call by name the employee, the person of the company. You maintain the culture of the company. You become a leader in product development because if you developed, ten years ago, Nike advanced pairs of shoes and you are the same person, you grow with your clients. You know your clients, what they want, what they are not happy about with the shoes, and you can use this long time working for the company as inspiration, very practical knowledge to place into the product. This is what is called product leadership. So you enable technology. The effect is that if you work there for a long time, you listen to your clients, they help you, and you create a great product. You make the technology options and opportunities land in your place, have that good relationship with your clients. You understand them, you solve their problems, you make things quicker, easier. So you get your master\'s certificate earlier than expected, to use the analogy, the metaphor. You experiment with novelties or you reduce impact and footprints. So you don\'t have many jackets that are not bought by your clients, so your footprint is reduced. Also, you can say that for your customer, you strive to save the community, so your goodwill saves, and to value the environment is supported by the way you are. And for sure, if you solve their problem, they are very happy, and they feel protected. They feel known by the seller, understood, and protected that way. When someone knows you, you can open yourself, you can share what you think. You also want to share. I believe that, guys, it happened to you to get, immediately after you got a service or a product, the typical gentle email or notification saying, \"Thank you for being our client. Can you share with us your experience?\" But, guys, you know, sometimes you think again. You are willing, right? As Victoria said, maybe using ChatGPT to structure and attack in business B2B, and I do as well. But you do also with the provider, like also asking me to mention specific laws that protect you, and so on. But when it comes to congratulate, to say thank you, it depends on the feeling of being loved, known, supported by your friend. If clients are happy, if you protect growth, the revenues, and then basically your market share grows. So this is fortunate, for sure. Maybe a tool you might imagine far from people very technically engaged in their organizations, but believe me, also using artificial intelligence, as some of you already said also, yes, for data. But ask artificial intelligence to visualize, to make images or structures telling what matters the most to you. You will be more able and quicker in communicating to the other team. So this is a strategy map. Everyone knows, especially ladies that sometimes buy for themselves and also for the men of the family---men know very, very much---and then you see they try to tell you that you have four sides of the brand, the picture of sender, the picture of receiver---sender is Zara, receiver is the customers---the external side of the company and the internal side of the company. When it comes to---and it is a prism, the idea of naming something \"prism\" gives the idea that it is one element but with different faces, surfaces. And what is that Zara sends to the receiver externally? The physical side---the reaction people have in the company, in the point of sale, the shop; the flexibility in giving you a different product or changing, replacing the product; the market orientation, that means incorporating and buying in the collections also cultural inputs coming from different cultures and markets; but also the relationship if we stay on the external side. And the trust you feel, the quality of the products, and the relationship. Value for money---you are buying because when we buy things, guys, we do know if that value for money is okay or not. When you buy a bottle of water on the plane and you are flying, and you pay the bottle of water five dollars, three dollars if you\'re lucky, you know that bottle of water can be bought for 50 cents in the market. And you buy because you want to drink, you need the water, you have your partner, your kids---I don\'t know---you need it. When we decide to do something, we do know when it\'s not an optimized choice. And you know what we do? We punish inside what we believe is not fair. So this fair exchange of value, I feel always, the companies---is the key point. And now I will surprise you, or maybe not. The fair exchange of value doesn\'t depend strictly on the price. The price is an element, one of the elements to judge if it\'s a fair exchange of value. The main challenge of the marketing department can be done properly if the product department transfers information, documentation, and the culture of the product of the market to explain that behind that price, even higher for the same product you can buy for less money, is justified in terms of fairness. So when you deliver into the room a beverage in the hotel at nighttime---this is an experiment that some hotels did in the eastern side of the world, which is very cool---you have products that have different prices according to the moment you want them. So if you need, over the night, a product in your room, it costs more. And you say, \"We value our customers, we value having a 24/7 service, but we treat our employees according to the law and better. We pay more for night work.\" So that\'s why your plate of pasta doesn\'t cost ten but costs fifteen. When you read that, you might agree or you may not agree because maybe you don\'t find it fair. But the company tried to explain the exchange of value is fair. Remember, business and life are all about exchanging something. Also, even in love stories or friendship, things work when you believe that what you give---maybe it\'s more, maybe it\'s deeper, maybe it\'s less---but makes sense, a kind of sense, with what you get. We have to find the proper price ourselves and the other speaker, if I want to use a verb that is more economic. But what I want to say is that explain better what you deliver; the price will be a consequence. When you speak with the price, you might, in the relationship, be missing something important. So fair exchange value---remember that. Now, reflection style, individualism. So you explain to this receiver what you feel. 20:39 This receiver should be in line with your parameters, and then the internal side, the sender, which is everyone working in Zara, should understand that they should feel the various four letters: embodies confident, mature, stylish, and gracious, unpretentious. So then be confident, mature, stylish---you should see that it\'s European, Spanish because they are from Spain, but it\'s also international because someone who is confident has a good relationship with the customers. And on the side of receivers, as the company is confident, you are confident as well, fashionable, unique, because you can be if you are unpretentious and gracious and stylish. It\'s a very wide range---you might. So, guys, this is to tell you that what we are discussing in terms of project and management requires to be integrated, and very often lands in a picture, in visualization, which are very strong in aligning people with different skills. This is Zara. I don\'t stop very much here. You can look later, but you have the same sender\'s brand identity prism again: physique, relationship, reflection. To the balanced scorecard, so the strategy maps, as I said, try to show also to your clients that you have an aligned strategy, projects, and operations. Guys, we are so far---it\'s boring---any live feedback, please, just to understand if you are interested in what I\'m saying, if it matches with your expectations, if you find it also inspiring, because in six hours, either I stay there to mention with this ROI---I mean the matrix---but it\'s not the goal, I believe, to inspire you to make you analyze the organization and people working in the organization with these ideas. It\'s more projects fear side, more operations side. How I can, if I am project and this person in front of me is operations, visualize what I do and be able to get the maximum from their side. So just a quick question: if it\'s clear, if you find it understandable, and somehow starts to be interesting, at least. Don\'t be afraid also to say what still is missed, but we will see because we are ending the first---okay, this is really important for me, just to be that key, the engine. And okay, so this, guys, is just to say: pay attention to the background and the realm of the person in front of you and try to build bridges, to build bridges. Thank you, Noya. Okay, okay, thank you very much. Thank you very much, yes. And also very good, very good, Alejandra. This is also something I want to know, and we are all workers, but we all are entrepreneurs. This is very important to have clear in mind. Maybe we decide to be entrepreneurs only in our private life, private side of our journey. Being an entrepreneur means just that you decide how to allocate and use what you have---your time, your money, your relationships, your friends---everything the entrepreneur does. In this sense, who decides to manage resources, to have goals, and so on, and asks for others, hiring people, paying other people to help him, is an entrepreneur. In this sense, what I want to say is it\'s important to take from each class you join a message of increasing the quality of improving your entrepreneurial side. So when Alejandra said, \"Gives me ideas to implement in my business,\" then maybe it can be that in the weekly meeting she does with the colleagues, she will give them a picture of a visualized outcome of the week with some nice emoticons, and close to the emoticons the goal of the upcoming week, for instance. So something you may remember and make a culture. Do you remember that picture? Do you remember what she told us? Do you remember what we saw? There is neuroscience; it\'s a great field that companies and business in general, also non-profit organizations, are exploring very much. We do know that when we act, we don\'t always talk only strategically or mathematically calculating things, but neuroscience tells you also, as I told you before, that sometimes we make, knowing that we are doing wrong choices because we are obliged, because we have impulses to do that. What we need to do is to align our productive side and the company side on these different impulses our clients have in order to be there for all of that. So, this we saw---this is just when in the balanced scorecard you have the finance there and then you have the clients. It\'s clear that finance is there because you know as soon as you pay something, you have also resources that could be invested in training, in developing better products. And you know that the biggest shift that Amazon at the beginning, from after 1999---it was when it was established; also \'99 was established the Alibaba, AliExpress now, and so on---and says, \"Thank you. I show you something I don\'t give you, but you give me money, and then I send you.\" This might sound normal now, but if someone stops you on the street, an unknown person, and tells you, \"I will give you your water. I give you a bottle of water. Just give me one dollar. I will bring you in one minute,\" you don\'t give one dollar. Or maybe you give it because it\'s just one dollar. But paying someone you don\'t know at all, digitally far from you online, your credit card, waiting for the product, is something that was difficult to be passed, to be liked at first. But when you did that, then you go to any coffee shop in the world. You first, mostly first, pay for the coffee, and then you go to the desk to take your coffee. You pay for the hamburger in McDonald\'s, and then you pay, and then you take your sandwich. In the past, it was the opposite. First, you were ordering physically, you were getting your product, and in that moment you paid, like in the supermarket---you go with your cart, you put stuff there. But we can say that the economy from the \'80s, the end of the \'80s, \'90s, and then 2000s with the technology and the internet and so on for business, changed---shifted from an economic moment-based activity to a financial moment. What does it mean? When you go to the supermarket and you take a pack of milk, and this is the last pack of milk. When you pick the pack of milk, something happened. And what happened is that---that a limited quantity of something---in that case, was that pack of milk, 1,000 packs of milk---you limited one unit, the total amount of products. So it was limited in the sense that the quantity was given, was there, was the space of this. You take the milk, you walk to the cash desk, and then when you pay, you exchange the product with your company. And this is called the financial moment. Of course, when you exchange product with money---you see, in the old-style economy, the economic moment---that is, the moment when you take the ownership of a product---was happening prior to the financial moment, and after some time you were paying. You go to the tailor, you want your pullover to be fixed, you give it---the tailor works, then you go, you take the pullover, and you pay. In that moment, you have the economic moment and financial moment---you get back your pullover. The digital economy, the nowadays economy, is---people that work in finance know very well---the challenge was to make everything happen before on the financial point of view. So when you pay, someone gets your money, uses your money in the meantime you get what you paid for, can make this money grow. When you work with others\' money, making this money grow, you are using finance. So when we say that we live in the era of finance, this era of finance is possible only because the economic moment in business was placed after the financial moment. Tell me if it\'s clear, guys, because when Alejandra wants to implement the business or the other colleagues, or you look at your companies, looking at your companies as children of this era, you will notice if this financial shift was already done or not. You buy a ticket for a concert, tutorials for Taylor Swift or other singers, months in advance. Because you have not just imagined Amazon or when you buy online and the day after you get your product, but many things nowadays we pay much earlier. Or we even pay, guys---and on this I will collect some answers from your side to listen to your thoughts, and then we greet each other---even not knowing what you are paying for. Netflix---from what are you paying, exactly? I mean, so you do know \"all you can eat\" was something that started in advance, but as soon as you went one time, you know that there you have fish, then you have sushi, and so on. But when you pay a subscription for something, you actually are paying with the promise of keeping getting something cool, kind of cool, basing your decision to pay on your experience in the past. So you are paying past experience. And again, this is to tell you that the relationship with your customers impacts their willingness to give you money in advance. What platforms like Disney, Netflix, need to do or try to do is to tell you, \"Coming soon, we are going to do the next---we will release in 2027 \'Squid Game\' third season.\" It\'s not true---the second season is going to be out soon, I think I read that---but telling you, \"We are working for the future.\" So this \"We are working for the future\" gives you an idea of stability. But \"We are working for the future,\" guys, is communicating what to you? Project effort or an operation effort from Netflix company? Can you write telling me why? When Netflix tells you, \"In 2027 we will be out with\...\" Someone says project. Others\' point of view? Being changed to say operational. 50/50 so far, guys. Operations. The question is, when you see, in \'26, iPhone 19---I don\'t know, we are at 17 now, 16 will be released---with that, what are they telling you in that moment? That they are working on the project or the operation? A project effort as well as operation. It is proposed project, which has already been put into---so it can be there a specific timeline. Operations, project. 20:56 Alexander, and can you---you want to tell us something, and then whatever you wish. Project? Alex or Carl? Yeah, project indeed from my perspective, because you\'re looking at the future. It\'s not something that has been rolled out already. They are still in the planning phase, so I would see it as a project. Thank you. One that believes this is operations, and why? Some voice. Operations, Maria, for instance, or Annie. Potentially, basically---and I\'m going project. So you know what is the cool side of my question? That from the perspective of the receiver, this sounds and is clearly a project. But from the perspective of the receiver as well, what you get in terms of visualization---people totally engage the operations. Maybe Netflix keeps telling you, for the main role, this actor was engaged for this season, this very city will be welcoming the shooting. So this is a perfect example of operations used to promise a project. Which is the message I want to share with you---is that if in the past the chef in the kitchen was hidden, it was considered good but not very much interesting for the people eating at the table, the growing importance of the operations is clearly visible from looking at the restaurants with open kitchens, where cooking, the design, operations in the activity decades. So operations can be a project or can announce a project. It can be a project as well behind the scenes in any industry, especially when it comes to something that touches safety. You enter IKEA---IKEA, I don\'t know how you pronounce it in your country---and you see the chair with this pushing system that shows you that every chair in IKEA is tested that way before being sold. You buy the chair because an operation test is displayed and used. The message is, what we are discussing today---we are going to keep discussing tomorrow---matters in the same way, both operation side and project side. What we will do tomorrow is to keep discussing, sharing points of view, and to go a little bit inside the tools and metrics of both sides: operations management and the projects. So, guys, it was interesting to get to know you. I hope that we\'ll meet tomorrow all together. If you have questions, comments, or any ideas, please write to---please speak right now. I will stay here one minute. Uh, please, Pooja Kaveri, how to pronounce correctly your name, please? And where are you from? Yes, professor, that\'s exactly what I wanted to say. The correct way to pronounce my name is Pooja, first name, and Kaveri is my last name. I am from India, and currently, I live in Germany in Bern. I was introduced a few days ago. Oh, great. And was the weather pleasant for you? It was kind of cold, it was kind of cold, it\'s extremely depressive, you do not have to be simple, light. Sorry, thank you so much for a great class. It was extremely informative. I\'m very---thank you so much to all of you, especially because you made the class stronger, interacting and sharing your experience, your voice, and your time, and just in time, also flow of thinking. Have a nice evening, guys. See you tomorrow. See you the day after tomorrow, sorry. Bye. Bye-bye.