Posts Tagged: risk rating

What is your personal appetite for risk?

June 13, 2017

And could this impact your job?

Ian McGregor, Ph.D.
President, SportRisk

Personal and professional risk-taking

On a daily basis we all take personal risks – crossing the street, investing in the stock market, playing ice hockey, driving a car to work. Some risks may be greater than others (e.g. buying a house), and some can have very serious consequences (e.g. falling during a rock climbing trip).

We all fit somewhere along a broad spectrum of risk taking – from the high risk takers (big appetite for risk) to the low risk takers (more risk averse). And in general, if you display a certain risk tolerance in one sphere, that appetite/aversion behavior will likely be demonstrated elsewhere. It’s who you are.

So what has this got to do with your job? Essentially, your personal appetite for risk will impact your professional life by shaping your decision making. So for example, if you are a Sport Clubs coordinator and have a relatively low appetite for risk, this will likely impact how you manage the Sport Clubs program, and which types of Sport Clubs you are more comfortable with (either keeping or adding them). Alternatively, having a higher risk appetite means that you’ll likely embrace higher risk Clubs, and take more risks when deciding whether to add new Clubs.

Which is better? The answer comes later in article… Read more

Residual Risk

October 18, 2015

How much is too much?

Ian McGregor, Ph.D.
President, SportRisk

In Part I of this two-part series on Risk Profile the concepts of ‘Risk Matrix’ and ‘Risk Profile’ were introduced.

Using the Risk Matrix approach provides a ‘gut level’ assessment of the amount of risk attached to an activity (the qualitative approach), while the Risk Profile process provides a measurable numerical value of the actual risk level (the quantitative approach).

In many situations, the Risk Matrix’s red/amber/grey/green approach is sufficient, and can be particularly useful in assessing a new and immediate potential danger or crisis. For example, if an incident occurs during an Intramural game, it can be useful to have staff ask themselves ‘is this a potential red zone situation?’ If the answer is yes, then it is a call to immediate action.

However, from a risk management planning perspective, the Risk Profile approach has some distinct advantages in that it provides staff with a really good handle on just how ‘big’ the risk of an activity or facility is. While assigning P (probability) and S (severity) values to activities can be somewhat subjective, it is an observed fact that consensus among staff is surprisingly easy to achieve when developing risk profiles for different activities. Read more

Looking at Recreation risk through different lenses: Risk Rating

October 06, 2014

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For blog #1 in this series – go to http://www.sportrisk.com/?p=2654

Risk rating in recreation – let’s get real with some examples!

Concept of residual risk

Using the ‘Risk Rating’ approach, take a look at a couple of recreation programs or facilities you are responsible for. Come up with an initial risk rating (with no controls), then apply your controls (i.e. risk management strategies) and then re-calculate the risk rating to determine your ‘residual risk’.  (To calculate ‘risk rating’ go to http://goo.gl/nbpbvy)

(Alternatively, look at something like a Rugby club program or Climbing Wall facility – and go through the same risk rating exercise.

Residual risk too high?

What did you find? Do you feel that your ‘residual risk’ is too high even after controls are in place? Are there any additional controls that you could put in place?

What do you do now?

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