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Planning in 140 Tweets by Ricardo Vargas

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CHAPTER 12

IDENTIFYING, ASSESSING, AND RESPONDING TO RISKS

In the next tweets I will discuss one of the areas that has received maybe more attention than others in the last couple of years: risk management.

The management of uncertainty has increasingly become more and more essential in everything we plan and do. We have to be sure that the plans we are developing are compatible with the risks we are willing to take.

In this case, the fundamental matter lies upon two basic things: uncertainty and tolerance. Uncertainty is what gives us the doubt about the inherent benefits and costs to do or not do something in order to avoid or leverage any given risk, which up to a period of time, exists only in our minds. Tolerance delimits how much loss ...

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