Business Club Qualitative Risk Analysis MatrixE – Extreme Risk H – High Risk M – Moderate Risk L – Low Risk
Business Club How to Place Risks in the MatrixIn a risk assessment matrix risks are placed on thematrix based on two criteria:Likelihood: the probability of a riskConsequences: the severity of the impact or theextent of damage caused by the risk.
Business ClubLikelihood of OccurrenceBased on the likelihood of the occurrence of a risk the risks can be classified under one of thefive categories:Definite: A risk that is almost certain to show-up during project execution. Ifyou’re looking at percentages a risk that is more than 80% likely to causeproblems will fall under this category.Likely: Risks that have 60-80% chances of occurrence can be grouped as likely.Occasional: Risks which have a near 50/50 probability of occurrence.Seldom: Risks that have a low probability of occurrence but still can not beruled out completely.Unlikely: Rare and exceptional risks which have a less than 10% chance ofoccurrence.
Business ClubThe consequences of a risk can again be ranked and classified into one of the fivecategories, based on how severe the damage can be.Insignificant: Risks that will cause a near negligible amount of damage to the overallprogress of the project.Marginal: If a risk will result in some damage, but the extent of damage is not toosignificant and is not likely to make much of a difference to the overall progress of theproject.Moderate: Risks which do not impose a great threat, but yet a sizable damage can beclassified as moderate.Critical: Risks with significantly large consequences which can lead to a great amountof loss are classified as critical.Catastrophic: These are the risks which can make the project completely unproductiveand unfruitful, and must be a top priority during risk management.
Business ClubHi there handsome,Wanna play some poker?
Business ClubFirst of all, the odds ofme getting a flush isless than 1%. Now yourodds of getting a fullhouse….
Business ClubA full house consists of a 3 ofa kind (triple) and a pair.There are 4 suits and 13 ranks.Each triple has 3 differentsuits. The number of alltriples of each rank is -comb (4;3) = 4. The numberof all triples = 4*13 = 52.
Business ClubThe number of all pairs ofeach rank is comb(4;2) = 6.The number of all pairs =6*12 = 72 (12 = the numberall ranks without the rank ofthe current triple). In the endwe get the probability of fullhouse as 52*72 / 2,598,960 =3,744/2,598,960
Business ClubYeah you just toocute for all thatnumber talk…
Business ClubGo do your homework.I don’t play with chumps.
Business ClubThe saying "No man is an island" is an undeniabletruth. We need the support and cooperation of other people to help us in reaching our goals. Successful people know that one of the most important abilities to possess is the ability to persuade and influence others. Here are some hot tips to do this effectively.
Business Club Persuasion tips:1.Enter Their world2.Mirror their body language3.Be Cheerful and nice4.Be sincere and trustworthy5.Provide them with compelling evidence6.Show them what is in it for them7.Appeal to wants not needs
Business ClubDiscussion period:1. What is the difference between perceived risk and actual risk? Why are they both important?2. What was the biggest risk you ever took? What persuaded you to take it?3. What was one time you failed to assess the amount of risk of something you got yourself into?4. When has someone persuaded you to do something that you normally would not have done? Would you do that again today?5. When have you persuaded someone else?6. How do you calculate risk when making big decisions that effect your business or career?7. Have you properly used the art of persuasion when negotiating from a point of weakness? When and how?8. What time of persuasion works better on men than women? Vise versa?