Risk – Its all about time!

I was talking to a colleague about risk. They mentioned that they list the risks and assign a probability and impact  to each risk. This appears to be the standard approach taught on many management courses.

“I take a different approach” I said “I only consider impact”.

I am interested in two measures.

  • How long it will take to fix the problem.
  • How long the business can survive with the problem.

If the time to fix the problem is less than the time the business can survive, we do not have a problem.

If the time to fix is greater than the time available, then we need some more options.

Olav and I mention a number of examples in our InfoQ risk article

Can you think of other examples?

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About theitriskmanager

A IT programme manager specialising in delivering trading and risk management systems in Investment Banks. I achieve this by focusing on risk rather than cost. A focus on costs can lead to increased costs. View all posts by theitriskmanager

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