Okay, let's have a look at risk management in practice
And what I want to do is to start with some basic concepts
then focus on two difficult areas in the risk process
So, I guess if I asked you to define the word 'risk'
you would have some ideas of what it meant
We might not have a formal definition that we could quote,
but we all have something in our minds when we hear the word 'risk'
This is what we think, and maybe you think of things like this
Maybe you feel like this little guy, facing some big ugly challenge
that you know is just going to squash you flat.
Maybe you feel like this guy.
This is a real job in North Korea,
and his job is to hold the target for other people to shoot at
Sometimes project managers have the target here
We feel like everybody is shooting at us in our job
Or maybe you just know there's something nasty out there, waiting to get you
And maybe that's what you think of when you think of the word 'risk'
Well that's partly true but it's not the whole truth.