Tuesday, February 19, 2008

Risky business - Part 2

Read Part 1

As a project manager, part of my job is to manage risks. A risk is something that could happen. Well, anything could happen, right? What the project team does is identify the things that could go wrong, estimate out how likely they are and what the impact would be they did happen. Then we make an alternative plan to have in place if a risk does happen.

Let's say the project is to move a business from one location to another. Your current lease expires on a set date and you must vacate the property by that date. Your new location is being constructed, and the builder says it will be done on time. But what if it isn't? What's Plan B...Plan C...Plan D? That's risk management.

People like "Adventurer" Steve Fossett did a lot of risk management. When preparing for a round-the-world solo balloon flight, you sure better know where you can land if you have technical trouble or suddenly get sick! And yet it is possible that Fossett died because what he was doing that day was not as risky as his other adventures, so he may not have thoroughly planned for the potential risks.

Do you consider yourself a risk taker? Sure you get up in the morning and face the dangers of cars and icy roads and sidewalks, probably without even thinking about it much...buckle your seatbelt, drive more slowly than normal, wear the right kind of shoes. But beyond that...are there things you need to do or want to do, but you don't do them because of what could go wrong? Are there things in your past that you didn't do because of potential dangers that never came to pass? Are you letting fear of the risks of life keep you from really living life?

The first step to getting over that fear is to ask yourself one question - what is the worst thing that could happen?

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