Minimize Risk - Be Prepared

The key to minimizing risk is to be prepared  understand and learn from what happened before, improve collaboration, provide more training, and have clear protocols for everyone. Consider potential risks, then plan and rehearse responses to minimize their possible impact.

In this dramatized video case study Marcus the manager, invites everyone to dress in black with a touch of red for his Black Swan meeting. His aim is to explain the significance of black swan events and scenario planning. They must consider the importance of a proactive approach to risk and the necessity of learning from past mistakes, and Sam creates a risk matrix.

Don't think it'll never happen INSTEAD: Expect the unexpected;
Don't leave it too late INSTEAD: Prepare, train, use checklists;
Don't wait for a crisis INSTEAD: Assess risk and identify triggers;
Don't justify past problems INSTEAD: Learn from mistakes;