Risk comes from the uncertainty inherent in the world. The consequences of the uncertainty can be good or bad. If the consequences of something are good, we use words like ‘opportunity’. If things could turn out badly, we call it ‘risk’, and as managers we should always be seeking to handle risk and mitigate the possible negative
consequences.

If a possible risk materialises, then it turns into an ‘issue’. The fact that we spend so much time as managers dealing with ‘issues’ tends to indicate that we don’t proactively manage risks as well as we could. Click on the link below to find out the process for risk management.

Alchemy – The process of risk management

My best wishes, Paul
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