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Risk leadership - implementing a risk strategy that works

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Understanding how to manage risk will greatly improve the success of your project. By mitigating project risks you are more likely to achieve the project objectives

Published in: Real Estate
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Risk leadership - implementing a risk strategy that works

  1. 1. Risk Leadership Implementing a strategy that works
  2. 2. “The potential of an action or event to impact on the achievement of objectives.” Association of Project Management Risk
  3. 3. Every project presents risks
  4. 4. Risk registers are used to manage project risks
  5. 5. They typically address physical/ more tangible aspects
  6. 6. People risks are harder to identify and address Creative Commons Torbakhopper
  7. 7. Risk leadership differs from risk management
  8. 8. Alaine Karoleff
  9. 9. Often organisations prioritise the physical and tangible aspects of project delivery
  10. 10. But 80% of projects fail due to “people issues” Harvard Business Review, 2005
  11. 11. Risk leadership is more effective than risk management
  12. 12. Manager Leader Engaging • Communicate by telling • Expect people to do things their Team Work Expects “grown-ups” to focus on the work Making Decisions • Tell people what to do • Maintain control
  13. 13. Manager Leader Engaging • Communicate by telling • Expect people to do things their • Communicate by listening first • Encourage people to find the best way Team Work Expects “grown-ups” to focus on the work Actively works at developing relationships so team can become “more than the sum of its parts” Making Decisions • Tell people what to do • Maintain control • Encourage people’s understanding and engagement so they can make decisions at the coal face • Delegate intelligently
  14. 14. Analyse component risks but feel people risks
  15. 15. Often people react emotionally rather than rationally - at work and at home Creative Commons Zoe
  16. 16. Evidence – isn’t …unless it fits what we want
  17. 17. Loss – drives us more than gain CreativeCommons Image Money
  18. 18. Brainstorming doesn’t improve creativity
  19. 19. It can lead to the fixation on an idea by a group Psychology Today
  20. 20. Project competence survey Had confidence to complete current project Confidence in themselves (75%) Did not have confidence in themselves (25%) Survey by Montydog Consulting
  21. 21. Project competence survey Had confidence to complete current project Confidence in other project team members (56%) Did not have confidence in other members of project team (44%) Survey by Montydog Consulting
  22. 22. Project competence survey Had confidence to complete a project Confidence in team delivering objectives (44%) Did not have confidence in that team achieving objectives (54%) Survey by Montydog Consulting
  23. 23. Daniel Kahneman, psychologist, highlighted our pervasive optimistic bias. “We see ourselves and … the goals we adopt as more achievable than they are”. Creative Commons Daniel Spiess
  24. 24. Trust Think Adapt
  25. 25. Trust Think Adapt each other creatively behaviours
  26. 26. For brain concepts with huge implications, see our Collaborative working – understanding people better deck
  27. 27. Do you think this project can be delivered on time? How confident are you that this project will be delivered on time? Confidence Questions
  28. 28. Why are you confident? What contributes to that confidence? Confidence Questions
  29. 29. What needs to change to increase confidence? Confidence Questions
  30. 30. Status Certainty Autonomy Relatedness Fairness Dr David Rock, Neuroleadership Institute Everyone needs
  31. 31. Be a “People Intelligent Leader”
  32. 32. 1. Opportunity to lead more intelligently by focusing on people People Intelligent Leaders
  33. 33. 2. You can change yourself, your organisation and your career People Intelligent Leaders
  34. 34. 3. Risk leadership can be very rewarding – so why not seek that reward? People Intelligent Leaders
  35. 35. Leaders Quick Risk Check Y/N? Skilled Experienced Motivated Engaged You as leader Your team Your organisation Your customers
  36. 36. So to implement a risk strategy that works…
  37. 37. Lead rather than manage
  38. 38. Acknowledge people risks
  39. 39. Understand how people think
  40. 40. Work hard to connect and motivate
  41. 41. Thank you Clarkson Alliance in collaboration with Montydog Consulting enquiries@clarksonalliance.com T: 01865 355580 W: clarksonalliance.com @CAProjects_

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