Identifying Risks Before Begining A Project
Famous psychologist Gary Klein talks about identifying risks before begining a project…sounds like Munger’s quote “I want to know where I will die so I will never go there” This short piece covers quite a bit of ground (decision making, groups and teams, organizational behavior, and business strategy). Enjoy!
Introduction (via NYT)
Post-mortems, trying to figure out why a new idea failed, are a common business process. But wouldn’t ”pre-mortems” make more sense?
They would, argues Gary Klein, chief scientist at Klein Associates, a division of Applied Research Associates, which works with companies to show them how to conduct pre-mortems and ”identify risks at the outset.”
”A pre-mortem in a business setting comes at the beginning of a project rather than the end, so the project can be improved rather than autopsied,” Mr. Klein explains in The Harvard Business Review.
Excerpt (Via NYT)
While companies frequently engage in risk analysis beforehand, employees are often afraid to speak up, fearing they will be seen as naysayers or will suffer the political consequences of objecting to an idea that is popular internally.