How to Become a Risk Intelligence Superstar in 5 Easy Steps

Do you want to be the hero of your organisation? Do you want to make smarter decisions, avoid threats, seize opportunities, and create lasting value? Do you want to do all that while having fun and being witty? If you answered yes to any of these questions, then you need to learn about risk intelligence.

Risk intelligence is not just another buzzword. It’s a concept that goes beyond risk management. It’s the ability to think holistically about risk and uncertainty, speak a common risk language, and effectively use forward-looking risk concepts and tools³. It’s also a skill that can be measured and improved. In fact, there is even a test for it called RQ.

But don’t worry, you don’t need to take a test to become a risk intelligence superstar. You just need to follow these five easy steps:

1. Gather information. The first step to becoming a risk intelligence superstar is to gather information that will help you identify uncertainties in your workplace. This can include data, reports, news, trends, expert opinions, customer feedback, and anything else that can give you insights into the risks and opportunities facing your organisation.
2. Estimate probabilities. The second step is to estimate probabilities accurately. This means being able to assess how likely different outcomes are based on the information you have. You also need to be aware of your own biases and avoid overconfidence or underconfidence. A good way to do this is to use ranges or scenarios instead of single numbers or point estimates.
3. Evaluate consequences. The third step is to evaluate consequences realistically. This means being able to estimate how much impact different outcomes will have on your organisation’s objectives and values. You also need to consider both positive and negative consequences, as well as direct and indirect ones. A good way to do this is to use metrics or indicators that are relevant and meaningful for your organisation.
4. Make decisions. The fourth step is to make decisions rationally. This means being able to weigh the pros and cons of different options based on their probabilities and consequences. You also need to be flexible and adaptable, as well as transparent and accountable. A good way to do this is to use frameworks or models that can help you structure your decision-making process and communicate it clearly.
5. Learn from experience. The fifth and final step is to learn from experience continuously. This means being able to monitor the outcomes of your decisions and compare them with your expectations. You also need to be open-minded and curious, as well as humble and willing to admit mistakes. A good way to do this is to use feedback or reviews that can help you identify what went well and what can be improved.

By following these five steps, you will become a risk intelligence superstar in no time. You will be able to protect and create value for your organisation amid uncertainty. You will also be able to impress your colleagues, bosses, customers, and stakeholders with your witty remarks and jokes about risk.

So what are you waiting for? Start your risk intelligence journey today and see the difference it makes!

(1) What is risk intelligence (RQ)? | Definition from TechTarget. https://www.techtarget.com/searchcio/definition/risk-intelligence-RQ

(2) Risk intelligence – Wikipedia. https://en.wikipedia.org/wiki/Risk_intelligence

(3) Risk intelligence – Wikipedia. https://en.wikipedia.org/wiki/Risk_intelligence