Fear, trust and risk tolerance

I’ve been called to facilitate risk assessments for organizations varying from project teams to corporate boards of directors. Surprisingly, I still occasionally find the risk assessment to be the first time the key stakeholders have come together to discuss their goals and objectives in a critical way and to form a common understanding for how comfortable they are with uncertainty; what is their risk tolerance?

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Too much risk management kills innovation

Risk Management is good, so the more risk management, the better, right?

Wrong.

The key to effective risk management is to use it intelligently, with the understanding that risk is inherent in everything we do. There can be no opportunity without risk. We have all experienced how ridiculous and frustrating it can be when faced with too much risk management.

This example might sound familiar to some: Continue reading “Too much risk management kills innovation”