RISK TYPE You can’t manage it if you can’t measure it
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Project management expertise • Knowledge Project Management Body of (PMBOK)/ Application Area Knowledge
• Skills General Management/ Project Environment Management
• Methodology Work breakdown structures/ Critical path analysis/ Earned value management/ ‘Agile’ ‘Lean’ ‘Kanban’ and ‘Six Sigma’ techniques
• Qualifications • Prince2/ ISEB/ APM/ MSP
• Standards ISO/ ANSI/ ASTM/ AGA/ MTS/ AWS ARE/ IAAR/ RABQSA
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PM qualifications
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Project management expertise • Methodology Work breakdown structures Critical path analysis Earned value management ‘Agile’ ‘Lean’ ‘Kanban’ and ‘Six Sigma’ techniques • Software Issue tracking systems (ITS) Scheduling Project Portfolio Management (PPM) Resource management systems (RMS) Document management system (DMS) Work Flow Systems 4
PM knowledge areas 1. Project Integration Management 2. Project Scope Management 3. Project Time Management 4. Project Cost Management 5. Project Quality Management 6. Project Human Resource Management 7. Project Communications Management 8. Project Risk Management 9. Project Procurement Management 10. Project Stakeholders Management
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Problem solved?
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Sarah • • • • • • • • • • • •
Intense: fearful, anxious, Pessimistic, self-doubting Worried, emotional, passionate Moody, changeable, irritable, mistrustful, Hates uncertainty (presume dangerous until proved otherwise) Expects the worst Fast driving (involuntary flinching, gasping and whimpering) Flying (would buy a parachute if she could) Sudden noises, disappointment, crossing roads, or as drivers, Stressed, prone to panic, over-react, Expects NOT to be liked, presume not to be accepted All good things must come to an end
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Henry • • • • • • • • • • • •
Does nothing without approval Organises everything…..to the very last detail Plans everything well ahead Always has a back-up plan Suspicious of anything new Dislikes change Follows all the rules Requires training and qualifications for everything Inflexible Unsettled by ambiguity Respects tradition A place for everything and everything in its place
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Juliette • • • • • • • • • • • • • •
Impulsive Challenging Spontaneous Excitement seeking Uninhibited Imaginative Easily bored Distractible Individualistic Dismissive of petty rules Embraces change Sees uncertainty as opportunity Unpredictable A rolling stone gathers no moss 9
Peter • • • • • • • • • • • • • •
Composed, placid Even tempered Serene, calm Utterly imperturbable Stress tolerant Poised Tranquil Unemotional Fearless Optimistic Confident Self-assured Phlegmatic All's for the best in the best of all possible worlds 10
What’s in the box?
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Human Factors in the Doldrums Human Factor Risk Assessment has been: 1. Based on a ‘snap shot’ of attitudes 2. Varied approaches with no consensus 3. Muddled and inconsistent Content: temperament? situation? circumstances? Methodology: definitions? models? taxonomies?
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1. RESEARCH & DEVELOPMENT
1. RESEARCH & DEVELOPMENT
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Risk & Personality • • • • •
The significance of FFM Defining the domain Consensus at last Consistent over working life Deeply rooted
- Emotional - Extravert - Agreeable - Prudent - Open-minded 14
Risk Elements of Personality • • • • • • • • • •
Adventurous Apprehensive Attachment Careless Compliant Conforming Deliberate Emotional decision making Excitement seeking Focused
• • • • • • • • • • •
Forgiving Impulsive Methodical Optimistic Patient Perfectionist Reckless Resilient Sentimental Spontaneous Trusting
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The Two Axes of Risk-Taking Fear:
Impulsivity:
Nervous v Fearless Apprehensive v Relaxed Brittle v Flexible Pessimistic v Optimistic Vulnerable v Daring Stressed v Calm
Prudent v Carefree Compliant v Challenging Consistent v Unpredictable Detailed v Vague Planned v Impulsive Organised v Approximate
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Four ‘pure’ Risk Types…….
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‌.plus four complex Risk Types
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The Risk-Type Compass • Continuous spectrum • Adjacent Risk Types blend • Facing Risk Types opposites • Central 10% Typical • Strongest at the edge
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Eight Risk Types •
SPONTANEOUS Uninhibited, excitable, unpredictable and distraught when things go wrong.
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DELIBERATE Imperturbable, confident and systematic they are fearless and well prepared.
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INTENSE
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COMPOSED
Enthusiastic and committed, but pessimistic and easily defeated by set-backs.
Calm, cool headed and optimistic they seeming oblivious to risk.
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WARY Well organised but, anxious and fearful of failure they passionately seek to control.
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ADVENTUROUS Calm and unemotional but impulsive, daring and up for any challenge.
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PRUDENT Cautious, self-controlled and most comfortable with continuity and familiarity.
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CAREFREE Unconventional and excitement seeking, their imprudence makes life exciting.
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Prevalence of Risk Types
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2. A CRUCIAL DISTINCTION
2. A CRUCIAL DISTINCTION
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Attitudes, the false lead • Attitudes have causes, they are influenced • Attitudes to disability • Attitudes to seat belts • Attitudes to drink-driving • Attitudes to financial risk
• Attitudes are more effect than cause
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Type, Attitude & Behaviour RISK ATTITUDE
BEHAVIOUR
RISK TYPE
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Risk Type
Risk Attitude
• Aspect of temperament
• Kaleidoscopic
• Deeply rooted
• Variable
• Persistent
• • • •
• Pervasive • Measurable • Long term prediction
Superficial Readily influenced Not measurable Unpredictable
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Risk Attitudes
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Risk Tolerance Index (RTi)
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3. RESEARCH REPORT ROAD MAP
3. SOME RESEARCH FINDINGS
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Our IT Sample
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Our Engineer Sample
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Our Recruiter Sample
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Our Auditor Sample
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4. RELEVANCE & APPLICATIONS
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Spheres of Application • • • • •
Project Management Team Building Risk Management Compliance Underwriting
• • • • •
Coaching Auditor Certification Financial Advising Trader development Risk Culture
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Individual Level • Employment Screening • Re-deployment • Personal development • Advising in financial services
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Team/ Group Level • “Risky shift” – Risk polarisation phenomenon • Team self-awareness…and awareness of others • Team dynamics/ relationships/ communications • Team risk balance • Decision-making
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Organisational Level • The Risk-Type Compass™ in survey mode:
The Risk Culture (monolithic or mosaic?)
The Risk Landscape
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Risk Landscape SALES
EXEC I
PROMO
RTi 96 THE BOARD
HR
EXEC II
ACCOUNTS
FINANCE RISK & COMPLIANCE
Rec
L&D
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Risk and Compliance Team
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Individual Summary"
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Organisational Survey Risk Map
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Positive Risk Management • The world needs risk takers: • Entrepreneurs • Creatives • Sales people • Heroes • Challengers of the status quo
• Enron vs Kodak – two ways to fail • Risk Culture & Friendly Fire • Manage for more risk as well as for less?
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The End WEBINAR: 16th April at 8.00am BST & 9.00am CEST. Also 4.00pm BST & 5.00pm CEST Tel: +44 (0)1892 559540 Email: info@psychological-consultancy.com www.psychological-consultancy.com LinkedIn Group – Risk Type Compass
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