There are three negative scenarios that we repeatedly encounter when performing a health check on a customers risk strategy.
Amazingly the most fundamental is that individual project managers simply are not tasked with incorporating a realistic risk assessment in the project plan.
However, even if they are tasked to do so, many are not given even the basic training or guidance to accomplish the assessment correctly.
In more than fifty per cent of the instances where they are both tasked and trained appropriately, then the view of risk is one sided; risk is only viewed as a threat.
Overlay on to the above that the results of an experimental study show that subjects who are led to believe that they are very competent at decision making see more opportunities in a risky choice, and that the reverse is true; those who are led to believe that they are not very competent see more threats and take fewer risks.
It’s not surprising then that during a period of recession; very few companies are exploiting the opportunities that could be found in a balanced risk assessment.