Managing risk through planning

Today is July 4th. For America, it is a day of celebration recalling the Declaration of Independence. As well as remembering the past, it is also a time to think about the present and to think about the future of America.

This year, more than any in the recent past has been a challenging year both in America and elsewhere given the pandemic. More recently we've seen protests triggered by the tragic death of George Floyd. It is all of course a reminder that time doesn't move in an all together linear way, and over time, there will be periods of difficulty and progress will come to halt and in many cases reverse.

If we think back to July 4th 1776, it wasn't clear what the result of the Declaration of Independence would be and it was essentially a leap into the unknown and conflict. In the end, it forged a new nation and as the twentieth century dawned, the "new nation" of America overtook the United Kingdom to become the world's most power country.

Whenever, we embark on something new there is an element of the unknown, and we have to somehow manage that risk. If we've done very little research or investigation, that risk is going be very difficult to manage. Whilst we cannot predict the future, we can at least think about various potential scenarios and the possible upside...

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