Balancing Risk and Reward

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Presentation transcript:

Balancing Risk and Reward Rodney Denno, President Secure Open Systems Inc. ISSA Vancouver Chapter - September 21, 2005

Who am I? I’ve worked on international standards Small business security and RM Global payments organizations (RM and Privacy) Two patents Yet never heard anyone talk about the human side of RM and how individuals make decisions

Decisions, Decisions Understand how to manage business risks (Technology, Legal and Opportunity) and by understanding how your own Personal Risk Management Style effects your decisions

FUD FEAR UNCERTAINTY DOUBT

Is this YOU?

Are You? How many believe you are risk managers? How many believe you are good risk managers?

How many F’s FINISHED FILES ARE THE RE- SULT OF YEARS OF SCIENTIF- IC STUDY COMBINED WITH THE EXPERIENCE OF MANY YEARS

Social

Social

Social

Psychological

Psychological

Psychological

Neurological

Neurological

Neurological

Neurological

Cellular

Cellular

Cellular

Molecular

Molecular

Molecular

Principle #1 FEAR is a fundamental part of who we are. Don’t negate it, embrace it as a positive part of your being.

Principle #2 You can change the effect FEAR has on you from one of negative/destructive to one of positive/supportive.

Principle #3 The words we use determine so much of who we become and tell us so much about who we are!

Action Recognize and Nurture the risk taker in you. Find the Master Risk Balancer in you.

Action RM strategy must be based on “Eyes Wide Open” strategy NOT “Eyes Wide Shut” strategy!!

F E A R False Evidence Appearing Real

Think about You!