Recognizing our biases can help us become more objective and more discerning about addressing risks. While we may not always be able to completely overcome our biases (rightly or not), it is important to be able to relate to others and understand differing points of view. Think of your workplace (current, past, or future!) and imagine a catastrophic event that would affect the company’s operations. Pick something specific to the company (ie, not weather-related disaster). Provide the necessary context and elaborate on why it is a realistic risk. What would happen to the company if the risk were realized? After you’ve convinced yourself of the importance of the risk, take a step back and consider the perspective of a hostile stakeholder who doesn’t agree with your assessment. Why would they resist your idea and what more information is needed to convince them? Let’s say you successfully convinced your stakeholder with your new information and brought them around to your perspective. Now what controls will you put into place to monitor the risk? How will you know whether the likelihood or impact of the risk is changing? There are a lot of questions to answer this week so take your time and work through all of them. This will give you practice thinking about risk from many angles.
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