The Game of Risk

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The Game of Risk

by Johanna Rothman

February 23, 2009


We are living in a time of economic uncertainty. For some people, that might mean a hunker-down, reduce-risk, stick-with-what-we-know mentality. I take a contrarian’s approach: Start the risky projects. If we don’t start the risky projects, how can we discover a breakthrough, reduce waste or innovate enough to work our way out of the uncertainty?
 
But don’t start the risky projects without a way to manage the risk. And don’t start projects that don’t fit with the corporation’s strategy at all. That means starting a project and looking to see what value it (and each other project) has delivered so far; and re-evaluating this project with respect to the other projects periodically underway.
 
Sounds good, right? There’s a catch. You can’t use a serial approach to the projects, and you have to look at the whole picture for the project portfolio.



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