33 - I Learned Something About Risk Management from My Daughter
Learn how a simple conversation about travel preparation led to a profound lesson in risk management. This episode explores the value of shared perspectives in understanding and managing risks effectively.
I Learned Something About Risk Management from My Daughter
Risk management is often thought of as a rigid, technical process, but a recent conversation with my daughter reminded me just how personal it can be—and how collaboration can lead to better outcomes.
While planning for an upcoming trip, we discussed the preparations we needed to make, including which vaccines to take. Our perceptions of risk varied. I felt she was overestimating certain risks, while I might have been underestimating them. Through a thoughtful exchange, we found a shared understanding of the actual risks involved.
This experience highlighted a fundamental principle of risk management: risk is perceived differently by each individual. However, open dialogue allows for a more balanced perspective, often closer to the actual level of risk.
Here are the key takeaways from this episode:
• Risk perception is subjective: Everyone has their own way of assessing potential threats.
• Dialogue bridges gaps: Conversations help align differing viewpoints, leading to better decisions.
• Collaboration improves outcomes: When managing risk, collective input often results in more effective strategies.
Whether you’re leading a team, managing personal decisions, or navigating uncertain situations, this principle is invaluable. Listen to this episode of Pattern Cognition with Sid Mofya to explore how shared perspectives can enhance your approach to managing risk.
Highlights:
00:00 A Lesson in Risk Management from My Daughter
00:11 Understanding Different Perceptions of Risk
00:32 The Importance of Conversations in Risk Management
Links:
Website: https://www.sidmofya.com/
LinkedIn: https://www.linkedin.com/in/sidmofya/
Transcript:
I got a really good risk management lesson from my daughter this last week, planning for some travel and talking about what preparation we need to do, which vaccines we need to take and so on. And it turns out I was underestimating some risk that in my opinion, she was overestimating, but the process of talking about it together, um, helped me to appreciate the risk more closely to what I think the actual risk is.
And I think for her as well. to for us to get to a similar understanding of what that risk is. I think that's a really great principle for risk management. We all perceive risks differently and having that conversation helps us to get to a closer understanding of what the actual risk is.