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Published byRoberta Powell Modified over 9 years ago
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Doug Off Ojai Oil Company Golden State Storage May 02, 2012
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Risk consists of two things: ◦ The probability that something will go wrong ◦ The negative consequences that will occur if something does go wrong. Risk control allows you to identify and manage potential problems that could undermine key business initiatives or projects.
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1. Identify threats before you start the project. 2. Assess the likelihood of the risk happening and possible impact 3. Manage the risk 4. Continue conducting regular reviews – don’t lose track of the balance sheet!
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Risk is less acceptable at a higher level of management - desire to not be the person responsible for failure Moral equivalence – using a small risk as a justification for performing a larger risk ◦ Guilt or shame vs. risk ◦ Risk is happiness ◦ Jyn – the Moroccan spirit of good and bad
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Before (August 2011)After (April 2012)
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