Risk Management
Muhammad Afify
Certified TOT, Six Sigma yellow belt professional with over 5 years in call Centre management experience. Experienced in HR, Training, Client relationship , Quality control and Operations management.
If you watched Monsters, Inc; you must have seen and heard "Henry J. Waternoose III" saying this popular phrase.
"I'll kidnap a thousand children before I let this company die."
I don't like this guy as much as you all do, but; I respect him, and here is why!
If we adopt risk management as frame of work, then we have to continuously measure probability and effect of incidents that are corelated with any decision we make that contains risk. And we do that by doing qualitative and quantitative analysis.
We do both qualitative and quantitative analysis to measure the probability of specific events taking place and how they would impact the outcome of our decision and the ongoing process
Risk management doesn't only help us make a decision of whither to take the risk or not, it also helps us diced which risk to take. Because let's face it, sometimes, you have to take the risk.
So, Mr. Waternoose did all of that , and the conclusion was that as long as the kidnapped children are within the range of 1 to 1000, then it's worth it to take the risk. So, he had a plan, It just didn't work.