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Mitigating risk at work

It all sounds a bit corporate, doesn’t it? ‘Mitigating risk’. It’s usually a term associated with project management. You don’t need to hold a title of ‘project manager’ to manage projects; in theory, most of the tasks you carry out in your day-to-day role are either short- or long-term projects, and with each of these projects come various degrees of risk, i.e. factors that can make a project go wrong.

These factors include:

  • People – the skills, capabilities, behaviours and attitudes of those who are actively participating in the project
  • Resource – the amount of people needed for a successful project
  • Stakeholders – a step beyond ‘People’, but those who have a degree of influence and interest in the project but may not actively be involved in carrying out the project
  • Money – whether enough is available or not
  • Logistics – the logistics and scheduling needed to carry out the project
  • External influences – the economy, politics, environment, and customer behaviour.

And many more. Effective communication throughout the entire process promotes a seamless synchronicity and ensures red flags are brought to the right people’s attention at the earliest possible time.

Risk management

To quote from the aptly-named project management blog Project Manager:

“At its most simple, risk management is a process of forecasting and planning for potential challenges to your business or project. When done correctly, risk planning enables you to prioritize risk and work to eliminate or lessen the impact of the potential risks on your project or business.”

For projects, for work or for our careers, avoiding risk means that we:

  • Identify the risks, listing out all worst-case-scenarios, potential dangers and any hiccups that might and will crop up
  • Analyse these risks to determine the impact they have and which of these hiccups are in our control
  • Prioritise these risks by the likelihood of them happening
  • Mitigate these risks by putting in the appropriate and proportionate anticipatory measures – or safety nets – so that if the risks were to have an impact despite your efforts to avoid them, you can prepare and lessen the impact. This could even include a contingency plan
  • Monitor these risks, and the efforts we make, to ensure they’re always on our radar so that we are always ahead of them.

This is a standard, non-fancy risk management model. Applying this model is useful for us in two ways. Firstly, managing risk by following this model is a useful skill for anyone in any role. Managing risk from the beginning of any project you work on will help you do your role much more effectively and with minimal disruption. Not only will this promote better mental well-being (as you experience less stress from avoiding, preparing or lessening the impact of hiccups), but you also establish a reputation of being organised, credible and reliable. You are much more on top of things.

Secondly, risk management also plays a role in managing and developing our careers if we recognise it as an ongoing project. Being able to identify risks in your career trajectory means that you can adopt a more proactive approach to development, rather than winging it and dealing with hiccups as they present themselves. This is particularly helpful for those who are in an industry that’s prone to fluctuation (and really, what industry isn’t?). Being able to identify the risks that may influence your field means you can start making the necessary arrangements to mitigate that risk. We need to predict to the best of our ability where our industry will be in 5 years’ time, the demand for our skills in the market at that time, and the skill gaps that may become apparent.

For example, there’s a (necessary) focus on AI at the moment and the associated risks it brings to the job market. If you assess that your current role or career progression against this risk, you can begin now to readjust accordingly, for example upskilling, developing new skills that don’t rely on AI like soft skills, or, in really bad (but opportunistic) situations, changing careers altogether. Determining the likelihood of each risk and how it will impact your career means you can lay down the ground work in time, long before you would feel the impact and influence.

Horizon scanning

This approach to your career trajectory can be coupled with another corporate doozie: horizon scanning.

Olivier Marteaux, Principal of Horizon Scanning at the RSSB, puts horizon scanning eloquently as:

“the intelligence gathering part of strategic foresight, concerned with emerging trends, issues and uncertainties that the future may bring, and assessing their potential impact on organisations.”

While this could be seen as the same to assessing risk, I’d like to think as horizon scanning as something that scopes out opportunities, as well as risk. The quote mentions ‘emerging trends, issues and uncertainties’, and forever the optimistic as I am, their ‘potential impact’ can be just as positive as risks are negative.

Adopting this foresight means you can spot the uncertainties that lie ahead of us and see them as opportunities to learn in anticipation which can be enormously positive for your career.

Look past the corporate jargon and realise the advantages of mitigating risk and horizon scanning. Your work-life, professional reputation and career will reap the benefits if you put the effort into these.

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Leading brainstorms in 5 easy steps

Last week I shared 3 easy steps for preparing a brainstorming session and explained that putting in the effort and hard work into these steps will make leading the session a lot easier, as well as maximising its effectiveness.

As a recap, the 3 steps to prepare a session were:

  1. Identifying the objective – why is there a need for a brainstorm, what are the desired outcomes, how will these be presented to the end user
  2. Additional information – what information will you need to give you and the group some background knowledge to put the session into context
  3. Format – which approach will you take?

Now you have prepared the session, you should hopefully know feel more confident in leading the session. These 5 steps should help you:

Step 1 – Introduction

It’s crucial to set some basic ground rules for any type of brainstorm session. This should always include the likes of:

  • No belittling or dismissing ideas – all ideas, no matter how far-fetched or ridiculous, are allowed
  • No interruptions
  • Respect other people’s views and communication style
  • If the group wanders into a tangent, explain that the idea will be noted separately (so not to lose any good ideas) and that the group should come back to the main topic in the time they have.

The introduction should also include a brief summary to the group about why they’re in the group, the reasoning behind the session, the objectives, and how the findings will be used.

Step 2 – Leading the session

At this point, most of the hard work has already been done. You’ve prepared, you’ve told everyone why they’re here and what you expect of them. Your main job throughout the session is to make sure people stick to the ground rules and that each attendee has their chance to participate.

You will also need to make sure the input is balanced, for example, if someone is doing most of the talking, thank them for their input and tactfully ask if someone would like to add to their point or come up with a new idea. This opens the floor to everyone else, briefly but professionally silences the person doing all the talking and subconsciously gives permission to those who feel they need it to speak up. If there is someone who seems disengaged or just doesn’t provide any input, use this time to single them out by asking for their specific view.

Just don’t single out too many people – if a lot of people are disengaged or not participating, it might be appropriate to ask the group why this is. Word it in a way that isn’t accusatory but more inquisitive for example “The group isn’t coming up with a lot of collective ideas, do you think we’re missing something? Do you feel this approach isn’t the right one for idea generation? Do we need to work on this individually and reconvene at a later date equipped with more information? If so, let’s discuss what this information should be and decide how we will find it.”

But what happens if there’s a lot of enthusiasm and participation? Keeping an eye on the time is essential. If there a number of sections or topics you need to get through, you must make sure you stick to the allotted times. Going over time on one topic will have a knock-on effect for ALL following topics. However, enthusiasm shouldn’t be killed purely because an agenda you have created states the group needs to move on to the next topic.

Over time you will be able to figure out a way of allowing the time to go a bit over and shuffling the timings for the other topics. This of course is more restrictive the less time you have, but if you choose to do this, make sure you inform the group so they are confident the time is being looked after. If push comes to shove and it’s evident a lot more time is needed, you can always look into the option of having a follow up meeting at a later point.

Step 3 – Collating and relaying the information

About 10 minutes before the session comes to an end, you will need to start to discuss as a group which ideas are going to be taken forward. So that no ideas are lost (for example they might not be appropriate for one particular issue but is a good enough idea to not waste) you might find it helpful in categorising the ideas. Below are some examples of categorising your ideas:

  • Immediate action/Non-immediate but important action/Park for another project
  • Action within a month/Action within 6 months/Action within a year/No immediate action
  • Actioned by Team A/Actioned by Team B/Actioned by Team C
  • Needs approving/No approval but needs referring to/No approval or reference needed
  • It’s worth have a separate category for any ideas that weren’t related to this topic

Once the ideas have been categorised, relay the information by category to the group. This helps everyone structure the ideas in a logical pattern, but also highlights how ideas will be acted upon.

Step 4 – Formatting the outcomes

After the session, begin to format the ideas in the best suitable way, which should have already been determined in step 1 (third bullet point). Usually you could summarise the ideas by both category and as a whole. In some instances, you might find highlighting key themes in the ideas, or starting off with the big ideas that then feed into the ones with less impact. As with any presentation of data, it is all about the audience. How do they want to use the information? What do they really need to know? What would constitute as being too much information? Can the data be presented visually, for example with a word cloud to highlight common themes, or with a graph, or even infographic?

Step 5 – Follow up

Be sure to keep the brainstorm group updated with how the information is being used. It can sometimes be disheartening when you take part in a session and you hear nothing from the lead again, especially after having put the effort into the session. Even if the ideas haven’t gone any further, for example with management, let the group know this, ending it with a general “I will continue to chase and will contact you if there is any progress”. This means you won’t have to keep updating them on a regular basis if there is nothing to update them on.

It is also important to follow up with the end user. If the findings have been presented to the end user (see the post for tips on presentations) it is useful for them to also receive the same or more information by a follow up email for them to peruse in their own time. It’s always courteous too to remind them that should they need any more information or more work done on this (eg to include you and/or the group in any follow up actions) for them to get in touch.

I’ve taken these 5 steps on leading a brainstorm, and the 3 steps we looked over when preparing for brainstorms, and combined them in an awesome infographic which I’ll share on The Avid Doer’s social media accounts, and put at the end of this post.

Brainstorms are a great way not only to collect and formalise ideas, but to also bring different teams and people together whose differing perspectives can really add a fresh light on an issue. Essentially the success of a brainstorm lies within the solutions that are generated; making sure the preparation, format and facilitation of the session only makes the generation of solutions more time effective.

It’s also important to remember that as long as the solutions are found, the group have a say in how they are found. If you have a certain way in which you wish them to reach the end goal, but the group are veering to a more productive or innovative approach, it’s OK to take their lead and ‘roll with it’ – granted that the desired outcomes will be met in the same (if not less) amount of time.

Now, of course leading any sort of group, including brainstorms, involves an element of public speaking but as avid doers, we recognise this is something we need to work on to succeed in our careers. Even if your dream career doesn’t involve any public speaking, it’s a skill worth developing, especially if you consider yourself as an introvert or shy (please note these are two completely different things).

Over time, I will share ways that have helped me overcome these jitters, as well as inviting guest writers to share their tips on confidence. In the meantime the post I wrote on presentations offers a few pointers on how to handle speaking to a group of people.

 

Preparing and leading brainstorms