Managing Risk – Part 4

photo: Ian Britton (via Flickr)

The previous 3 posts on risk management have focused on understanding risk. The next step, and the primary purpose of risk management is mitigation.

For each risk that is identified what would you do differently if it occurs?

Also, perhaps more important is what is the agreed definition of occurrence of the risk? Disagreement within a group over whether/when a risk factor has occurred can delay the response to it.

Finally, risks are unlikely to ever play out exactly as you anticipate, but the act of considering risks and their mitigation strategies will make your plans more robust. You may also want to consider Gary Klein’s pre-mortem approach.

Plans are worthless, but planning is everything.”Dwight Eisenhower

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