1. ©2014 International Institute for Learning, Inc., All rights reserved. 1Intelligence, Integrity and Innovation©2014 International Institute for Learning, Inc., All rights reserved.
Thank you for joining us today.
This webinar is brought to you by IIL a global leader in:
Project, Program and Portfolio Management
Microsoft® Project and Project Server
Lean Six Sigma | Business Analysis
PRINCE2® | ITIL®
Leadership and Interpersonal Skills
Risks – Threats and Opportunities
How Not to Bury Your Head in the Sand

2. ©2014 International Institute for Learning, Inc., All rights reserved. 2Intelligence, Integrity and Innovation
Global IIL Companies
IIL US
IIL Asia (Singapore)
IIL Australia
IIL Brasil
IIL Canada
IIL China
IIL Europe (United Kingdom)
IIL Finland
IIL France
IIL Germany
IIL Hong Kong
IIL Hungary
IIL India
IIL Japan
IIL Korea (Seoul)
IIL México
IIL Middle East (Dubai)
IIL Spain

3. ©2014 International Institute for Learning, Inc., All rights reserved. 3Intelligence, Integrity and Innovation
Contents
1 What is risk?

4. ©2014 International Institute for Learning, Inc., All rights reserved. 4Intelligence, Integrity and Innovation
Contents
1 What is risk?
2 How does it affect projects?

5. ©2014 International Institute for Learning, Inc., All rights reserved. 5Intelligence, Integrity and Innovation
Contents
1 What is risk?
2 How does it affect projects?
3 Who says what is acceptable?

6. ©2014 International Institute for Learning, Inc., All rights reserved. 6Intelligence, Integrity and Innovation
Contents
1 What is risk?
2 How does it affect projects?
3 Who says what is acceptable?
4 How do we capture risks?

7. ©2014 International Institute for Learning, Inc., All rights reserved. 7Intelligence, Integrity and Innovation
Contents
1 What is risk?
2 How does it affect projects?
3 Who says what is acceptable?
4 How do we capture risks?
5 How do we analyze risks?

8. ©2014 International Institute for Learning, Inc., All rights reserved. 8Intelligence, Integrity and Innovation
Contents
1 What is risk?
2 How does it affect projects?
3 Who says what is acceptable?
4 How do we capture risks?
5 How do we analyze risks?
6 How do we deal with risks?

9. ©2014 International Institute for Learning, Inc., All rights reserved. 9Intelligence, Integrity and Innovation
Contents
1 What is risk?
2 How does it affect projects?
3 Who says what is acceptable?
4 How do we capture risks?
5 How do we analyze risks?
6 How do we deal with risks?
7 Are there any complexities?

10. ©2014 International Institute for Learning, Inc., All rights reserved. 10Intelligence, Integrity and Innovation
Contents
1 What is risk?
2 How does it affect projects?
3 Who says what is acceptable?
4 How do we capture risks?
5 How do we analyze risks?
6 How do we deal with risks?
7 Are there any complexities?

11. ©2014 International Institute for Learning, Inc., All rights reserved. 11Intelligence, Integrity and Innovation
Section 1 ~ What is risk?
Some thoughts

12. ©2014 International Institute for Learning, Inc., All rights reserved. 12Intelligence, Integrity and Innovation
Section 1 ~ What is risk?
Some thoughts

13. ©2014 International Institute for Learning, Inc., All rights reserved. 13Intelligence, Integrity and Innovation
Section 1 ~ What is risk?
Some thoughts

14. ©2014 International Institute for Learning, Inc., All rights reserved. 14Intelligence, Integrity and Innovation
1
• How might tomorrow be different to the plan I have for it?
2
• A risk is an uncertain event or set of events that, should it occur, will
have an effect on the achievement of objectives. PRINCE2 (2009)
3
• … overall risk is defined as ‘exposure of stakeholders to the
consequences of variation in outcome’ arising from an accumulation
of individual risks … APM Body of Knowledge 6th Edition
Section 1 ~ What is risk?
Some definitions ~ risk

15. ©2014 International Institute for Learning, Inc., All rights reserved. 15Intelligence, Integrity and Innovation
1
• How might tomorrow be different to the plan I have for it?
2
• A risk is an uncertain event or set of events that, should it occur, will
have an effect on the achievement of objectives. PRINCE2 (2009)
3
• … overall risk is defined as ‘exposure of stakeholders to the
consequences of variation in outcome’ arising from an accumulation
of individual risks … APM Body of Knowledge 6th Edition
Section 1 ~ What is risk?
Some definitions ~ risk

16. ©2014 International Institute for Learning, Inc., All rights reserved. 16Intelligence, Integrity and Innovation
1
• How might tomorrow be different to the plan I have for it?
2
• A risk is an uncertain event or set of events that, should it occur, will
have an effect on the achievement of objectives. PRINCE2 (2009)
3
• … overall risk is defined as ‘exposure of stakeholders to the
consequences of variation in outcome’ arising from an accumulation
of individual risks … APM Body of Knowledge 6th Edition
Section 1 ~ What is risk?
Some definitions ~ risk

17. ©2014 International Institute for Learning, Inc., All rights reserved. 17Intelligence, Integrity and Innovation
1
• Trying to get tomorrow to map as closely to the plan as reasonably
practical.
2
• The systematic application of procedures to the tasks of identifying
and assessing risks, and then planning and implementing risk
responses. PRINCE2 (2009)
3
• Prioritization is an important part of any risk process because it
focuses attention on what matters most. APM Body of Knowledge 6th
Edition
Section 1 ~ What is risk?
Some definitions ~ risk management

18. ©2014 International Institute for Learning, Inc., All rights reserved. 18Intelligence, Integrity and Innovation
1
• Trying to get tomorrow to map as closely to the plan as reasonably
practical.
2
• The systematic application of procedures to the tasks of identifying
and assessing risks, and then planning and implementing risk
responses. PRINCE2 (2009)
3
• Prioritization is an important part of any risk process because it
focuses attention on what matters most. APM Body of Knowledge 6th
Edition
Section 1 ~ What is risk?
Some definitions ~ risk management

19. ©2014 International Institute for Learning, Inc., All rights reserved. 19Intelligence, Integrity and Innovation
1
• Trying to get tomorrow to map as closely to the plan as reasonably
practical.
2
• The systematic application of procedures to the tasks of identifying
and assessing risks, and then planning and implementing risk
responses. PRINCE2 (2009)
3
• Prioritization is an important part of any risk process because it
focuses attention on what matters most. APM Body of Knowledge 6th
Edition
Section 1 ~ What is risk?
Some definitions ~ risk management

20. ©2014 International Institute for Learning, Inc., All rights reserved. 20Intelligence, Integrity and Innovation
Section 1 ~ What is risk?
How risk works

21. ©2014 International Institute for Learning, Inc., All rights reserved. 21Intelligence, Integrity and Innovation
Section 1 ~ What is risk?
How risk works
+ve -ve

22. ©2014 International Institute for Learning, Inc., All rights reserved. 22Intelligence, Integrity and Innovation
Section 1 ~ What is risk?
How risk works
threats
+ve -ve

23. ©2014 International Institute for Learning, Inc., All rights reserved. 23Intelligence, Integrity and Innovation
Section 1 ~ What is risk?
How risk works
opportunities
+ve -ve

24. ©2014 International Institute for Learning, Inc., All rights reserved. 24Intelligence, Integrity and Innovation
Contents
1 What is risk?
2 How does it affect projects?
3 Who says what is acceptable?
4 How do we capture risks?
5 How do we analyze risks?
6 How do we deal with risks?
7 Are there any complexities?

25. ©2014 International Institute for Learning, Inc., All rights reserved. 25Intelligence, Integrity and Innovation
Section 2 ~ How does it affect projects?
It has the potential to affect . . .

26. ©2014 International Institute for Learning, Inc., All rights reserved. 26Intelligence, Integrity and Innovation
Section 2 ~ How does it affect projects?
It has the potential to affect . . .

27. ©2014 International Institute for Learning, Inc., All rights reserved. 27Intelligence, Integrity and Innovation
Section 2 ~ How does it affect projects?
It has the potential to affect . . .

28. ©2014 International Institute for Learning, Inc., All rights reserved. 28Intelligence, Integrity and Innovation
Section 2 ~ How does it affect projects?
It has the potential to affect . . .

29. ©2014 International Institute for Learning, Inc., All rights reserved. 29Intelligence, Integrity and Innovation
Section 2 ~ How does it affect projects?
It has the potential to affect . . .

30. ©2014 International Institute for Learning, Inc., All rights reserved. 30Intelligence, Integrity and Innovation
Section 2 ~ How does it affect projects?
It has the potential to affect . . .

31. ©2014 International Institute for Learning, Inc., All rights reserved. 31Intelligence, Integrity and Innovation
Section 2 ~ How does it affect projects?
It has the potential to affect . . .

32. ©2014 International Institute for Learning, Inc., All rights reserved. 32Intelligence, Integrity and Innovation
Section 2 ~ How does it affect projects?
It has the potential to affect . . .

33. ©2014 International Institute for Learning, Inc., All rights reserved. 33Intelligence, Integrity and Innovation
Contents
1 What is risk?
2 How does it affect projects?
3 Who says what is acceptable?
4 How do we capture risks?
5 How do we analyze risks?
6 How do we deal with risks?
7 Are there any complexities?

34. ©2014 International Institute for Learning, Inc., All rights reserved. 34Intelligence, Integrity and Innovation
Section 3 ~ Who says what is acceptable?

35. ©2014 International Institute for Learning, Inc., All rights reserved. 35Intelligence, Integrity and Innovation
Section 3 ~ Who says what is acceptable?

36. ©2014 International Institute for Learning, Inc., All rights reserved. 36Intelligence, Integrity and Innovation
Top
Office
Section 3 ~ Who says what is acceptable?

37. ©2014 International Institute for Learning, Inc., All rights reserved. 37Intelligence, Integrity and Innovation
Top
Office
Section 3 ~ Who says what is acceptable?
Senior
Management

38. ©2014 International Institute for Learning, Inc., All rights reserved. 38Intelligence, Integrity and Innovation
Top
Office
Project
Governance
Section 3 ~ Who says what is acceptable?
Senior
Management

39. ©2014 International Institute for Learning, Inc., All rights reserved. 39Intelligence, Integrity and Innovation
Top
Office
Project
Governance
Project
Manager
Section 3 ~ Who says what is acceptable?
Senior
Management

40. ©2014 International Institute for Learning, Inc., All rights reserved. 40Intelligence, Integrity and Innovation
Top
Office
Project
Governance
Project
Manager
Section 3 ~ Who says what is acceptable?
Senior
Management
Others?Others?

41. ©2014 International Institute for Learning, Inc., All rights reserved. 41Intelligence, Integrity and Innovation
Top
Office
Project
Governance
Project
Manager
Section 3 ~ Who says what is acceptable?
Senior
Management
Others?Others?
Customers/Suppliers

42. ©2014 International Institute for Learning, Inc., All rights reserved. 42Intelligence, Integrity and Innovation
Top
Office
Project
Governance
Project
Manager
Section 3 ~ Who says what is acceptable?
Senior
Management
Others?
Customers/Suppliers
Regulatory

43. ©2014 International Institute for Learning, Inc., All rights reserved. 43Intelligence, Integrity and Innovation
Top
Office
Project
Governance
Project
Manager
Section 3 ~ Who says what is acceptable?
Senior
Management
Others?
Customers/Suppliers
Regulatory
Teams

44. ©2014 International Institute for Learning, Inc., All rights reserved. 44Intelligence, Integrity and Innovation
Top
Office
Project
Governance
Project
Manager
Section 3 ~ Who says what is acceptable?
Senior
Management
Others?
Customers/Suppliers
Regulatory
Users
Teams

45. ©2014 International Institute for Learning, Inc., All rights reserved. 45Intelligence, Integrity and Innovation
A further thought . . .
Section 3 ~ Who says what is acceptable?

46. ©2014 International Institute for Learning, Inc., All rights reserved. 46Intelligence, Integrity and Innovation
A further thought . . .
Point of origin Point of impact
Section 3 ~ Who says what is acceptable?

47. ©2014 International Institute for Learning, Inc., All rights reserved. 47Intelligence, Integrity and Innovation
A further thought . . .
Project Project
Organisatio
n
Organisatio
n
Post-project Post-project
Point of origin Point of impact
Section 3 ~ Who says what is acceptable?

48. ©2014 International Institute for Learning, Inc., All rights reserved. 48Intelligence, Integrity and Innovation
A further thought . . .
Point of origin Point of impact
Section 3 ~ Who says what is acceptable?
Project Project
Organisatio
n
Organisatio
n
Post-project Post-project

49. ©2014 International Institute for Learning, Inc., All rights reserved. 49Intelligence, Integrity and Innovation
A further thought . . .
Point of origin Point of impact
Section 3 ~ Who says what is acceptable?
Project Project
Organisatio
n
Organisatio
n
Post-project Post-project

50. ©2014 International Institute for Learning, Inc., All rights reserved. 50Intelligence, Integrity and Innovation
A further thought . . .
Project Project
Organisatio
n
Organisatio
n
Post-project Post-project
Point of origin Point of impact
Section 3 ~ Who says what is acceptable?

51. ©2014 International Institute for Learning, Inc., All rights reserved. 51Intelligence, Integrity and Innovation
A further thought . . .
Point of origin Point of impact
Section 3 ~ Who says what is acceptable?
Project Project
Organisatio
n
Organisatio
n
Post-project Post-project

52. ©2014 International Institute for Learning, Inc., All rights reserved. 52Intelligence, Integrity and Innovation
A further thought . . .
Project Project
Organisatio
n
Organisatio
n
Post-project Post-project
Point of origin Point of impact
Section 3 ~ Who says what is acceptable?
“The eye sees only what the mind is prepared to
comprehend” ~ Henri-Louis Bergson
Henri-Louis Bergson (1859 – 1941) French philosopher

53. ©2014 International Institute for Learning, Inc., All rights reserved. 53Intelligence, Integrity and Innovation
Contents
1 What is risk?
2 How does it affect projects?
3 Who says what is acceptable?
4 How do we capture risks?
5 How do we analyze risks?
6 How do we deal with risks?
7 Are there any complexities?

54. ©2014 International Institute for Learning, Inc., All rights reserved. 54Intelligence, Integrity and Innovation
Section 4 ~ How do we capture risks?

55. ©2014 International Institute for Learning, Inc., All rights reserved. 55Intelligence, Integrity and Innovation
A family owns and runs a sports club which has been
operating very successfully for fifteen years but a similar
business opened five months ago in the same town.
Section 4 ~ How do we capture risks?

56. ©2014 International Institute for Learning, Inc., All rights reserved. 56Intelligence, Integrity and Innovation
A family owns and runs a sports club which has been
operating very successfully for fifteen years but a similar
business opened five months ago in the same town.
Membership and attendance has started to decline and
profits have dropped. To reverse this trend the family
commissioned a project to add a restaurant facility.
Section 4 ~ How do we capture risks?

57. ©2014 International Institute for Learning, Inc., All rights reserved. 57Intelligence, Integrity and Innovation
A family owns and runs a sports club which has been
operating very successfully for fifteen years but a similar
business opened five months ago in the same town.
Membership and attendance has started to decline and
profits have dropped. To reverse this trend the family
commissioned a project to add a restaurant facility.
Two risks from the Risk Register are to be considered:
Section 4 ~ How do we capture risks?

58. ©2014 International Institute for Learning, Inc., All rights reserved. 58Intelligence, Integrity and Innovation
A family owns and runs a sports club which has been
operating very successfully for fifteen years but a similar
business opened five months ago in the same town.
Membership and attendance has started to decline and
profits have dropped. To reverse this trend the family
commissioned a project to add a restaurant facility.
Two risks from the Risk Register are to be considered:
Threat ~ if the menu is unattractive too few people will
dine and the expected benefits will not be achieved.
Section 4 ~ How do we capture risks?

59. ©2014 International Institute for Learning, Inc., All rights reserved. 59Intelligence, Integrity and Innovation
A family owns and runs a sports club which has been
operating very successfully for fifteen years but a similar
business opened five months ago in the same town.
Membership and attendance has started to decline and
profits have dropped. To reverse this trend the family
commissioned a project to add a restaurant facility.
Two risks from the Risk Register are to be considered:
Threat ~ if the menu is unattractive too few people will
dine and the expected benefits will not be achieved.
Opportunity ~ if a takeaway service is also offered more
members will be likely to purchase food so the kitchen will
operate at higher efficiency.
Section 4 ~ How do we capture risks?

60. ©2014 International Institute for Learning, Inc., All rights reserved. 60Intelligence, Integrity and Innovation
Risk Register
Cause – The situation (actual or speculated)
e.g. Because it has been raining heavily ....
e.g. If it rains heavily ....
Event – What takes place
Helpful or unhelpful
Effect – The impact as a result of the event occurring
Improvement or damage

61. ©2014 International Institute for Learning, Inc., All rights reserved. 61Intelligence, Integrity and Innovation
Risk Register
Threat
if the menu is unattractive – Cause
too few people will dine – Event
and the expected benefits will not be achieved - Effect
Cause – The situation (actual or speculated)
e.g. Because it has been raining heavily ....
e.g. If it rains heavily ....
Event – What takes place
Helpful or unhelpful
Effect – The impact as a result of the event occurring
Improvement or damage

62. ©2014 International Institute for Learning, Inc., All rights reserved. 62Intelligence, Integrity and Innovation
Opportunity
if a takeaway service is also offered – Cause
more members will be likely to purchase food – Event
so the kitchen will operate at higher efficiency - Effect
Risk Register
Cause – The situation (actual or speculated)
e.g. Because it has been raining heavily ....
e.g. If it rains heavily ....
Event – What takes place
Helpful or unhelpful
Effect – The impact as a result of the event occurring
Improvement or damage

63. ©2014 International Institute for Learning, Inc., All rights reserved. 63Intelligence, Integrity and Innovation
Project: Restaurant
Code: SC-R
Risk No Cause Event Effect T/O Category L I P Response
SC-R-01
SC-R-02
SC-R-03
SC-R-04
SC-R-05
SC-R-06
SC-R-07
SC-R-08
SC-R-09
SC-R-10
Risk Register

64. ©2014 International Institute for Learning, Inc., All rights reserved. 64Intelligence, Integrity and Innovation
Project: Restaurant
Code: SC-R
Risk No Cause Event Effect T/O Category L I P Response
SC-R-01
SC-R-02
SC-R-03
SC-R-04
SC-R-05
SC-R-06
SC-R-07
SC-R-08
SC-R-09
SC-R-10
Risk Register
Familiar name
Project code
Unique code

65. ©2014 International Institute for Learning, Inc., All rights reserved. 65Intelligence, Integrity and Innovation
Project: Restaurant
Code: SC-R
Risk No Cause Event Effect T/O Category L I P Response
SC-R-01
SC-R-02
SC-R-03
SC-R-04
SC-R-05
SC-R-06
SC-R-07
SC-R-08
SC-R-09
SC-R-10
Risk Register
The result
What occurs
The situation
Unique code
Familiar name
Project code

66. ©2014 International Institute for Learning, Inc., All rights reserved. 66Intelligence, Integrity and Innovation
Project: Restaurant
Code: SC-R
Risk No Cause Event Effect T/O Category L I P Response
SC-R-01
SC-R-02
SC-R-03
SC-R-04
SC-R-05
SC-R-06
SC-R-07
SC-R-08
SC-R-09
SC-R-10
Risk Register
The result
What occurs
The situation Threat
or
Opportunity
Unique code
e.g.
• People
• Technology
• Facilities
• Regulatory
• Financial
Familiar name
Project code

67. ©2014 International Institute for Learning, Inc., All rights reserved. 67Intelligence, Integrity and Innovation
Project: Restaurant
Code: SC-R
Risk No Cause Event Effect T/O Category L I P Response
SC-R-01
SC-R-02
SC-R-03
SC-R-04
SC-R-05
SC-R-06
SC-R-07
SC-R-08
SC-R-09
SC-R-10
Risk Register
The result
What occurs
The situation Threat
or
Opportunity
Unique code
e.g.
• People
• Technology
• Facilities
• Regulatory
• Financial
What could be done
What will be done
What has been done
Familiar name
Project code

68. ©2014 International Institute for Learning, Inc., All rights reserved. 68Intelligence, Integrity and Innovation
Contents
1 What is risk?
2 How does it affect projects?
3 Who says what is acceptable?
4 How do we capture risks?
5 How do we analyze risks?
6 How do we deal with risks?
7 Are there any complexities?

69. ©2014 International Institute for Learning, Inc., All rights reserved. 69Intelligence, Integrity and Innovation
1. Common sense
Section 4 ~ How do we analyze risks?

70. ©2014 International Institute for Learning, Inc., All rights reserved. 70Intelligence, Integrity and Innovation
1. Common sense
2. General conversation
Section 4 ~ How do we analyze risks?

71. ©2014 International Institute for Learning, Inc., All rights reserved. 71Intelligence, Integrity and Innovation
1. Common sense
2. General conversation
3. Lessons Learned
Section 4 ~ How do we analyze risks?
“We file Lessons Learned here
so we can repeat yesterday’s
failures.”

72. ©2014 International Institute for Learning, Inc., All rights reserved. 72Intelligence, Integrity and Innovation
1. Common sense
2. General conversation
3. Lessons Learned
4. Facilitated Workshops
Section 4 ~ How do we analyze risks?

73. ©2014 International Institute for Learning, Inc., All rights reserved. 73Intelligence, Integrity and Innovation
1. Common sense
2. General conversation
3. Lessons Learned
4. Facilitated Workshops
5. Specialist risk consultancies
Section 4 ~ How do we analyze risks?

74. ©2014 International Institute for Learning, Inc., All rights reserved. 74Intelligence, Integrity and Innovation
Contents
1 What is risk?
2 How does it affect projects?
3 Who says what is acceptable?
4 How do we capture risks?
5 How do we analyze risks?
6 How do we deal with risks?
7 Are there any complexities?

75. ©2014 International Institute for Learning, Inc., All rights reserved. 75Intelligence, Integrity and Innovation©2014 International Institute for Learning, Inc., All rights reserved.
Negative
 Stop
Section 4 ~ How do we deal with risks?
Positive
 Go for it

76. ©2014 International Institute for Learning, Inc., All rights reserved. 76Intelligence, Integrity and Innovation©2014 International Institute for Learning, Inc., All rights reserved.
Negative
 Stop
 Detour
Section 4 ~ How do we deal with risks?
Positive
 Go for it
 Detour

77. ©2014 International Institute for Learning, Inc., All rights reserved. 77Intelligence, Integrity and Innovation©2014 International Institute for Learning, Inc., All rights reserved.
Negative
 Stop
 Detour
 Leave alone
Section 4 ~ How do we deal with risks?
Positive
 Go for it
 Detour
 Leave alone

78. ©2014 International Institute for Learning, Inc., All rights reserved. 78Intelligence, Integrity and Innovation©2014 International Institute for Learning, Inc., All rights reserved.
Negative
 Stop
 Detour
 Leave alone
 Swings & roundabouts
Section 4 ~ How do we deal with risks?
Positive
 Go for it
 Detour
 Leave alone
 Swings & roundabouts

79. ©2014 International Institute for Learning, Inc., All rights reserved. 79Intelligence, Integrity and Innovation©2014 International Institute for Learning, Inc., All rights reserved.
Negative
 Stop
 Detour
 Leave alone
 Swings & roundabouts
 Trade-off
Section 4 ~ How do we deal with risks?
Positive
 Go for it
 Detour
 Leave alone
 Swings & roundabouts

80. ©2014 International Institute for Learning, Inc., All rights reserved. 80Intelligence, Integrity and Innovation©2014 International Institute for Learning, Inc., All rights reserved.
Negative
 Stop
 Detour
 Leave alone
 Swings & roundabouts
 Trade-off
 Recover
Section 4 ~ How do we deal with risks?
Positive
 Go for it
 Detour
 Leave alone
 Swings & roundabouts

81. ©2014 International Institute for Learning, Inc., All rights reserved. 81Intelligence, Integrity and Innovation©2014 International Institute for Learning, Inc., All rights reserved.
Negative
 Stop
 Detour
 Leave alone
 Swings & roundabouts
 Trade-off
 Recover
Section 4 ~ How do we deal with risks?
Positive
 Go for it
 Detour
 Leave alone
 Swings & roundabouts
A combination of
responses may be
required

82. ©2014 International Institute for Learning, Inc., All rights reserved. 82Intelligence, Integrity and Innovation
Contents
1 What is risk?
2 How does it affect projects?
3 Who says what is acceptable?
4 How do we capture risks?
5 How do we analyze risks?
6 How do we deal with risks?
7 Are there any complexities?

83. ©2014 International Institute for Learning, Inc., All rights reserved. 83Intelligence, Integrity and Innovation
Many, many, many !
Section 5 ~ Are there any complexities?

84. ©2014 International Institute for Learning, Inc., All rights reserved. 84Intelligence, Integrity and Innovation
Section 5 ~ Are there any complexities?
Many, many, many !
 Residual risk (leftovers)

85. ©2014 International Institute for Learning, Inc., All rights reserved. 85Intelligence, Integrity and Innovation
Many, many, many !
 Residual risk (leftovers)
 Consequential risk (caused by actions taken)
Section 5 ~ Are there any complexities?

86. ©2014 International Institute for Learning, Inc., All rights reserved. 86Intelligence, Integrity and Innovation
Many, many, many !
 Residual risk (leftovers)
 Consequential risk (caused by actions taken)
 The combined effect (net effect)
Section 5 ~ Are there any complexities?

87. ©2014 International Institute for Learning, Inc., All rights reserved. 87Intelligence, Integrity and Innovation
Many, many, many !
 Residual risk (leftovers)
 Consequential risk (caused by actions taken)
 The combined effect (net effect)
 Unidentified risks (poor risk management)
Section 5 ~ Are there any complexities?

88. ©2014 International Institute for Learning, Inc., All rights reserved. 88Intelligence, Integrity and Innovation
Many, many, many !
 Residual risk (leftovers)
 Consequential risk (caused by actions taken)
 The combined effect (net effect)
 Unidentified risks (poor risk management)
 Undeclared risks (cultural)
Section 5 ~ Are there any complexities?

89. ©2014 International Institute for Learning, Inc., All rights reserved. 89Intelligence, Integrity and Innovation
Summary
Risk management is the
 Identification,
 Assessment,
 Prioritization and
 Reaction to risks
 In a responsible manner

90. ©2014 International Institute for Learning, Inc., All rights reserved. 90Intelligence, Integrity and Innovation
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