Crucible Investigating Risk. Crucible Introduction to Lab 3... Assessing our personal attitude towards risk and how we manage and develope it.

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Presentation transcript:

Crucible Investigating Risk

Crucible Introduction to Lab 3... Assessing our personal attitude towards risk and how we manage and develope it.

Crucible Investigating Risk... How do we define it?... How conscious of it are we in our day to day lives at work and outside?... How often do we stop and think about it?

Crucible Investigating Risk InitiateIdentifyAssessPlan responses Implement responses Manage Process Understanding and managing risk attitude David Hillson and Ruth Murray -Webster figure 2.1 page 18

Crucible Investigating Risk... Assessing?... Planning a response?... Implement a response?

Crucible Investigating Risk Risk AverseRisk Seeking Set low risk thresholds.Set high risk thresholds. Set high contingency levels.Set low contingency levels. Set low targets – don’t stretch self.Set high targets – constantly stretch self. Maintain the status quo.Encourage change. Constantly looking to manage risk.Risk? What risk? Understanding and managing risk attitude David Hillson and Ruth Murray -Webster adapted from table 2.3 page 30

Crucible Investigating Risk

Crucible Investigating Risk... Comfort; this is something I’m at ease with.

Crucible Investigating Risk... Stretch; this is outside the area I’m used to but I will still try it.

Crucible Investigating Risk... Panic; this situation is very unsettling for me.

Crucible Risk Exercise 1... Complete the questionnaire individually over the next minutes, thinking about each scenario in turn.... Rate your attitude as; comfort, stretch or panic.... Note down your preferred or likely course of action.

Crucible Investigating Risk... Reputation risk... Collaboration risk... Career development risk... Financial risk... Relationship risk... Physical risk... Embarrassment... Any others...?

Crucible Risk Exercise 2... Create a new group of three people.... Talk through each scenario and share your scores and likely actions.... Assess similarities and differences in attitude to risk as a result.

Crucible Risk Exercise 3... Remain in groups of three minutes to complete this task.... Develop a scenario, in the group that represents a situation that has risks associated and is related to research.... Create a poster/picture/ and a written scenario to summarise your discussions.

Crucible Risk Exercise 3 (cont.)... Visit each others posters.... Add post-it notes next to the poster.... What is the best thing that could happen here?... What is the worst thing that could happen here?... Is it a risk worth taking?

Crucible Investigating Risk... Which risks are worth taking?... When should we stretch ourselves?... When should we avoid risk?

Crucible Investigating Risk... What might I need to start doing?... What should I stop doing?... What should I continue doing?