This blog from Pete Cook about aiming to fail 50% of your projects each quarter is so right in the context of risk and decision making. All my research, whether it is McKinsey Global Surveys or academic research such as the work of Professor Paul Nutt of Ohio State University and his analysis of more
This article from the Wharton University of Pennsylvania entitled Confidence Games: Why People Don’t Trust Machines to Be Right highlights the issue of placing trust in our own judgement even though the facts tell us otherwise. In the article, Wharton professor Cade Massey and doctoral student Berkeley Dietvorst explain that once we use a predictive
In a nutshell, it doesn’t. All the same questions need to be asked: What is motivating me as I consider this decision? How clear am I on the options I have? Am I as ready, willing and able to implement the “best” option as I need to be? If the answer is no, start
Yesterday I had the great pleasure of listening to a wonderfully engaging presentation by Alisa Camplin who won the gold medal in aerial skiing at the 2002 Salt Lake City Winter Olympics. Her story of hard work, heartbreak and of course victory was compelling enough, however, when she said that she used Risk Management to
Last month I mentioned a recent webinar I ran on Risk Appetite in which I pointed out that an articulated risk appetite statement is only the beginning. You need managers to operationalise it so that staff can live it. One part of operationalising risk appetite is through communication to staff. Another part is through implementing a