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Bob Schultek |
There can be no reward, no change initiative, no return on investment, no relationship, no success until someone first takes a risk.Life is uncertain; risk and reward is the natural order. Whether we succeed or fail, we learn by continuing to go forward. Shrinking from risk only creates a false sense of security.
Manage risk assessment by considering:
1. What benefits will be missed if the decision is made not to proceed?
2. Will the situation/market be stable long enough to earn the expected rewards?
3. Is there a way to reduce the risk at a reasonable cost?
To secure the lessons learned, when the risk has been taken and the outcome is clear, determine what worked well and what could improve.
How do you evaluate risk and reward?
What was learned from your most significant risk-reward experience?
