Risk Management

Risk management is the forecasting and evaluation of risks and the identification of procedures to avoid or minimise their impact. Risk is mitigated by having well defined procedures and policies which include associated roles and responsibilities. It also requires adequate resources and on-going training to deliver on the risk management plan.

At project level, experience shows that when all team members are involved in identifying and evaluating potential risks, when they arise individuals will be more alert to realising and managing them. This has the added benefit of reducing fear of risk, a situation which can debilitate innovation and creative thinking.

Leadership training games encourage leaders to develop strategies to create a balanced environment of risk taking to foster innovation and creativity in their teams. And, as a result, leaders may choose to utilise experiential team building games which simulate a situation in which there is potential for risk to bring a heightened awareness for and innovative approach to managing risk for their teams. In a non-confrontational and stress-free learning environment, individuals can increase their skills in identifying risk and applying clear communication and strategies to manage it. They become accustomed to and familiar with the potential for risk and learn to embrace it not run away from it. These learnt skills can be discussed and applied to real-life situations.