Identifying and Managing Risk


Stardate: 11015.7

Notwithstanding all the pressing items on my to-do list, I resolved to review and comment on the Global Risks report for 2010 from the recent World Economic Forum by the end of this week.  With only 25 hours at hand and a daunting list of must-complete items still on that pesky list, it appears we may have a race against that thing called *time* once again.  Funny thing, this week has been unusually intense with back-to-back meetings; in person or on conference calls.  Now add to that logistical challenges of coordinating calls with team members spread in timezones across 4 continents; North America all timezones, Europe, Asia, and Australia!  As intense as it has been, I must admit, I am thoroughly enjoying it!! I guess that makes me a Workafrolic!!! (Richard St. John’s TED presentation)

In any case, while there are several risks identified in the report with varying levels of inter-connectedness, likelihoods of realization, and severity, my attention is drawn to:

1. continued unemployment and underemployment; echoes from the stalking recession
2. skewed, inadequate, or virtually non-existent infrastructure capacity; unsustainable development
3. energy myopia;

In Constantine (the movie), the angel Gabriel declares that humanity is at its best when faced with adversity (or something along those lines). However, I believe the archangel jumped to an incomplete conclusion. Humanity is at its best… tactically. In putting all our focus in the seemingly insurmountable challenges at hand, we sometimes tend to neglect the strategic view; the more severe the current issues, the more we tend to compromise on future think. And while this may be justified in many cases (for what good is the heavy bag of food if I am to drown), it is not always the prudent position (shed the weight of the bag of food to avoid drowning, only to be washed ashore starving).

In the little that I have reviewed, I have been pleased with the report’s balance in addressing short-term and long-term issues. In fact, a significant emphasis is on the long-term; I must say, I am impressed. So, between now and tomorrow nite, I will endeavor to review the report and supporting research particularly in the areas of the aforementioned 3 risks (or risk components) and share some comments with you 😀  Stay tuned…

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One comment on “Identifying and Managing Risk

  1. kalaateet says:

    Nice one indeed! The justification example is cool 🙂

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