“A Risk is an unknown anything”, “A Challenge is a known devil”
Today many of the business pitch-deck says risks as challenges.
What’s the big difference? Since that sounds more controlled?🏋♂️
Unless a risk is uncovered it cannot be termed as a challenge.
When you start a new initiative, be it a product or a business,
Here are ways to transform your unknowns into challenges. ↩
Q: How to explore & identify potential risks?
A: Look for people or process on similar lines.
Q: How to assess their impact on your goals?
A: Use Time & Money as anchor factors to derive.
Q: How to classify the identified risks?
A: Use any risk assessment matrix or templates.
Here is a simple risk assessment done at a high level
for a new product development initiative. ✨
#digitaltransformation #riskmanagement #technology #productdevelopment
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