Risk Management Life Skills Toolbox
Whether it is personal finance, leaving the house, health risk (which hospital to go to, or NOT) you have to manage the uncertainties that “matter to you” and therefore you should know how to manage risk where the outcomes are to you your benefit or detriment. And because of COVID-19, you have been doing this without any formal training on risk management. Risk management must be “personalized”. By that I mean, effective risk management starts with you, the individual. What is the status of your Risk Management Life Skills Toolbox?
Pandemic Spotlight on Risks
Because of COVID-19, you are now forced to make decisions based on your exposure to a risk (impact/vulnerability etc.) and your risk intelligence (decisions made to control the risk) e.g., should I leave the house, how effective is my face mask, should I send my children to school or not. These are all “your risks” or threats that you must manage.
Consider your personal risk/threats, they are unique to you and probably very different to your friends and colleagues. How you think about these risk will determine your response to them. If you think more intelligently about risk, you will be in a position to better manage it. If it matters to you and your family then you must manage it.
Personal Opportunities
Risk Management Life Skills can improve decision making and personal risk-taking outcomes.
But what about opportunities ? What opportunities have COVID brought into your personal space? Can you learn a new skill while you are “locked down”? Have you dreamed of starting a new business? What about the ability to save more money?
Risk is an uncertainty that matters to YOU and that uncertainty can be both an opportunity and or a threat. That said, we manage the risk we know we are taking, but what about the risks we don’t know that we are taking? The answers can only come from more formal risk management training or education.
Risk Conference 2020
We look forward to engaging you during The Caribbean Risk Management Academy’s (CRMA) virtual Caribbean Risk Management Conference on November 19, 2020. The theme is: Risk Management 4.0: Constructively Disrupting Caribbean Economies to future growth and sustainability. Please note Caribbean economies, include your “personal” economy.
Please stay safe and as always, proactive and anticipatory.