I was talking to a colleague about risk. They mentioned that they list the risks and assign a probability and impact to each risk. This appears to be the standard approach taught on many management courses.
“I take a different approach” I said “I only consider impact”.
I am interested in two measures.
- How long it will take to fix the problem.
- How long the business can survive with the problem.
If the time to fix the problem is less than the time the business can survive, we do not have a problem.
If the time to fix is greater than the time available, then we need some more options.
Olav and I mention a number of examples in our InfoQ risk article
Can you think of other examples?