If you're a middle or top level manager, you're countering risk and balancing risks against rewards with every management decision you make. Of course, how you weigh that risk and the decisions you make are a function of many factors: your organization's culture, your coworkers' input and your personal management style. So here's a cheering thought: If you tend to nudge thoughts of risk under the carpet, or are not quite sure of whether you are weighing risks accurately, you are not alone.
In #RISK MANAGEMENT tweet, veteran corporate professionals Cinda Voegtli and Laura Erkeneff begin by citing the old maxim:What you don't know can't hurt you. Then they immediately proceed to debunk it, showing how it is singularly inapplicable to business, just as it is probably not applicable to life. What you don't know or choose to ignore can gnaw away at efficiency, quickly bloat project scopes and budgets, and ruin any chance of profit. Pressures mount as the risks grow in a project. Relationships become strained. The work environment deteriorates and all stakeholders, including you personally, stand to lose. When a project goes astray, it is no longer fun to work on.
#RISK MANAGEMENT tweet was written for today's time-crunched managers. The authors' goal was to give managers an easy guide to handling risk, thereby enhancing their performance at work. This quick and handy title is not meant to be treated as the holy grail or the final word on risk management, but rather as an introduction or refresher on how to determine risk and practice risk management in your everyday work habits. For example, using the light-hearted analogy of gators in a swamp, the authors caution you: Knowing how big the gator in the water is will allow you to buy a strong enough rope to secure him once he is out of the water.
The authors' commonsense wisdom and their deep corporate experience come together to bring you this slim little volume written in the actionable tweet format, so that you learn to quickly assess and quantify risk, improving the quality of your work environment and diminishing stress in your daily life.
#RISK MANAGEMENT tweet is part of the THiNKaha series whose 112-page books contain 140 well-thought-out quotes (tweets/ahas).