Thanks to FreedigitalPhotos.net and the following contributors for their graphics used in our video: Figure with dice - Idea go http://www.freedigitalphotos.net/images/view_photog.php?photogid=809 Man at desk - Stuart Miles http://www.freedigitalphotos.net/images/view_photog.php?photogid=2664 Business Charts; Kittikun Atsawintarangkul http://www.freedigitalphotos.net/images/view_photog.php?photogid=1671 Roulette wheel; digitalart http://www.freedigitalphotos.net/images/view_photog.php?photogid=2280 Crack & Arrow; renjith Krishnan http://www.freedigitalphotos.net/images/view_photog.php?photogid=721 Office people; Vlado http://www.freedigitalphotos.net/images/view_photog.php?photogid=1836 3D figure with dollar; digitalart http://www.freedigitalphotos.net/images/view_photog.php?photogid=2280 Consultant; photostock http://www.freedigitalphotos.net/images/view_photog.php?photogid=2125
Half a life-time ago, I received my first instructions in risk management in the Navy checking the operational viability of VERY large explosive devices that one could “neither confirm nor deny” existed onboard the various vessels in which I served; very scary stuff. If a worst-case scenario ever presented itself and we were forced to use those devices, the environment would have been altered for a thousand years. Fortunately, we all performed our duties very well and were never called upon to ‘release’ those weapons.
Following Naval service and more recently… As I entered each organization where I was employed, I discovered that not one of them had a risk management plan in place; Very scary stuff. If a worst-case scenario ever presented itself it could have resulted is utter disaster for the company. Fortunately, I was able to create the required risk management plan for each organization, both public and private, for profit and not-for-profit, and everyone in the organization performed their duties very well - and we were never called upon to activate the Plan.
If the preceding paragraphs sound strangely similar it’s because they are. Risk Management is not about a single industry, a specific organization or dependent upon the number of employees or the size of the annual budget – it’s about a process. It makes no difference whether you are selling men’s ties from a kiosk on 5th Avenue in NYC or selling aircraft carriers to the Pentagon. It’s about a process. The risks and potential negative outcomes for each of these scenarios are vastly different – or are they, really; it’s also relative, depending upon who is risking what.