2 How are risks linked to objectives?
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- čas přidán 8. 07. 2024
- This is the second in the 100 Risk Questions video series, still in the basic concepts section. No objectives = No risks. But why?
[NOTE: We have recently discovered an audio problem on the first ten videos in this series, including this one, which causes the sound level to vary. We apologise for this problem and the video production team are trying to fix it. We hope it does not spoil your enjoyment of the video content.]
Objective: have a high-quality (Audio, Visual ) video. Having an unqualified media team. Risk: losing Audio! Happened: twice!
Yes, I know! I'm so sorry about this. But there's a backup/contingency plan - use the subtitles or the transcript function!
Excellent explanation David! This series of videos is really very helpful and very much appreciated. Thank you to you and Sultan Qabous university risk management team for such great work!
Thank you for this encouragement Khalid. We're glad you enjoyed this video, and there are lots of other good ones coming soon - one each day! We appreciate your positive feedback and we hope the videos are helpful to you as you tackle your own risks.
Indeed David they are very helpful and of great support as I am currently doing my master course in Strategic Risk Management! I am reviewing all other videos that you produced David and I am confident that they very useful like the ones that I have gone through already. All the best and May God bless you!
Thanks Khalid. I wish you success and blessing as you complete your masters course. Please let me know if we can help in any other way (david@risk-doctor.com). There are also many papers and articles available for free download on the Risk Doctor website (www.risk-doctor.com).
The way you explain is extra ordinary
Thanks for the encouraging feedback.
Brilliant! This's a life-changing video
Thank you so much!
Wow, that's a very high compliment! Thank you!!
So financial risks are risks that affect the finance... For me, I was considering the qualifier to be for the root cause of the risk [not the effect]; like scope (change) risk, resource (outsourcing) risk, schedule risk... Guess there are many ways to categorize risks.
Thanks Simão. You're right that risks can be categorised in many ways, including both cause and effect. In my experience, terms like "financial risk, environmental risk, safety risk etc." relate to the type of effect. But I'm sure other people probably do it differently.
superb video....very informative. u explain so well sir
Thanks very much, I'm glad you liked it.
If risks are defined top down and managed bottom up, then are not corporate risks the sum of all the aggregate risks?
Thanks for this question Ariane. In this video I say that risks are managed bottom up, but this dies not mean that all the lower-level risks can be added up to define the total risk eposure at the next level. Risks at any intermediate level in the organisation incldue some risks from lower down that are escalated, other similar lower-level risks that are aggregated, plus risks specifically from the intermediate level itself, and maybe also risks passed down from above.
I hope this clarifies the situation for you.
Well Explained
Thank you Kareena, I appreciate your encouragement.
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