So risk management is one of the most important skills for leadership.
Risk is a function of threats, vulnerabilities, probabilities, and countermeasures.
If we don’t manage risk by mitigating it, avoiding it, accepting it, or transferring it, we “risk” being overcome by the potentially catastrophic losses from it.
My father used to teach me when it comes to managing the risks in this world that “You can’t have enough eyes!”
And that, “If you don’t open your eyes, you open your wallet.”
This is a truly good sound advice when it comes to risk management and I still follow it today.
Essentially, it is always critical to have a backup or backout plan for contingencies.
Plan A, B, and C keeps us from being left in the proverbial dark when faced with challenge and crisis.
In enterprise architecture, I often teach of how if you fail to plan, you might as well plan to fail.
This is truth–so keep your eyes wide open and manage risks and not just hide your head in the sand of endless and foolhardy optimism for dummies. 😉
(Source Photo: Andy Blumenthal)