How to Handle Risk!
Adapted from the Simplest Most Powerful Tool in GEAdapted from the Simplest Most Powerful Tool in GE
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Who can use this? When I began this project, I was primarily targeting business leaders and project managers. However, as I progressed, I realized I was using day-to-day examples to illustrate how it works. Consequently, the application of this process is much broader than just the business arena. Therefore, I had to ensure that I present it appropriately. We all face daily challenges, issues, and risks that create some level of uneasiness or worry. How we handle our issues can mean the difference between success and failure. This simple process can help address everyday issues and personal ri...
Who can use this? When I began this project, I was primarily targeting business leaders and project managers. However, as I progressed, I realized I was using day-to-day examples to illustrate how it works. Consequently, the application of this process is much broader than just the business arena. Therefore, I had to ensure that I present it appropriately. We all face daily challenges, issues, and risks that create some level of uneasiness or worry. How we handle our issues can mean the difference between success and failure. This simple process can help address everyday issues and personal risks with a greater level of confidence. No matter if we are in a business or personal environment, it can help make objective-based decisions and avoid unhelpful and stressful subjective discussions. It’s a simple tool for the masses! Let’s talk about risk! When the subject of risk comes up in our house, my wife is quick to tell me that I’m not a risk-taker. Of course, I counter that taking a risk depends on several things. It’s all about how I handle risks. I will take a risk if the probability of something going wrong is low and the impact is also low! So, when I talk about risk, I include two factors, probability and impact, which must be characterized objectively and in terms that can be quantified. This book will arm you with a process that is simple to understand and apply. This form of risk management does not have complex formulas, financial forecast models, and is not confusing. It is common sense harnessed in a simple process! How most of us handle risk: 1. We see issues. 2. We talk about them. 3. We avoid doing anything. 4. We bury them and then worry. 5. We regret! We lament and say "I won’t let that happen again"! 6. We may have to apologize. 7. Unfortunately, sometimes we are forced to find a new job! Sounds familiar? Most people naturally do the first two steps. But the fear of failure, lack of tools or frameworks, laziness, already-full-plate syndrome, (insert excuse here), and it’s on to steps 3 and beyond. But, no—not you! This time you decided to pick up this book to learn how to equip yourself with the best tools for managing your personal risks. Thank you for giving it a try. Now it’s your turn to experience the powerful simplicity and relief from worry!
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