14 What risk identification techniques are available and which is the best one?

[@MrNicedave]

Really great reply to a real and big question regarding risk identification. Thank you.

[@Risk-Doctor]

Thanks David, I'm glad you found this one helpful. I hope your own risk id is successful!

[@imranzada937]

I love the way you practically demonstrate every point. You are more than a Risk Doctor..

[@Risk-Doctor]

Thank you for this encouragement Ehan, much appreciated.

[@AntuNeelesh]

Neatly and lucidly elocuted sir :)

[@Risk-Doctor]

Thanks very much, I'm glad you liked this video!

[@dipak242]

It's absolutely giving an immense idea on the risk management process. I am overwhelmed.

[@Risk-Doctor]

Thank you for your positive and encouraging feedback Dipak. I'm delighted that you are enjoying these videos. Tell your friends!!

[@pradiptapurkayastha7165]

Excellent tools .... ABC Assumptions analysis, Brainstorming and Checklist

[@Risk-Doctor]

Thanks Pradipta. If we make things simple, they are easier to remember - and to do!

[@nicheskill3254]

Great explanation... Thanks David !

[@Risk-Doctor]

Thanks, I'm glad it was helpful.

[@ericdunham21stcenturyleade34]

A great presentation. Thank you!

[@Risk-Doctor]

You're very welcome!

[@newbegin6778]

Really Nice explanation. ABC - Focused technique was awesome. Will use it in my research soon.

[@Risk-Doctor]

I'm glad you enjoyed this video, thanks.

[@ahsan930]

1. Individual 2. Group 3. Time focused Past, Present, Future Experience of past and previous experiments Checklist: could they happen now? Where we are now? Resource plan, swat analysis, as it is now, what are uncertainties, need some creativity and brainstorming Best technique: none. Checklist Look at where we are today Brainstorm future A, B, C, take one from each. A. Assumptions, test our assumptions, what are likely to be true. What would it effect if it is wrong. (Assumption Analysis) B. Brainstorming C. Checklist We can't identify all risks, some risks emerge later on, we can't see all risks without progress, some risks arise because of my choices like in design. Results of my actions. Identify as many as possible.

[@Risk-Doctor]

Thanks for your useful summary of this video Ahsan. I hope it doesn't stop people actually watching the video though!! ;-)

[@baaaaaaaankai]

Try to implement it in real time trading when shit happen

[@kennychim5444]

That's excellent advice from Risk Doctor, thanks.

[@Risk-Doctor]

Glad it was helpful!

[@ianpatrick23]

Really great stuff. Thank you!

[@Risk-Doctor]

I'm glad it was helpful!

[@MohammedRizwan-r6x]

Best vidoe on Risks

[@Risk-Doctor]

Thank you Mohammed, I'm glad you liked this one.

[@Pizzageek-jc4xp]

so welll-explained, thanks!

[@Risk-Doctor]

Thanks, I'm glad you liked this one. I hope it helps you identify and manage more of your risks.

[@PAC9322]

Amazing … Thanks for sharing

[@Risk-Doctor]

I'm glad you liked this viceo, thanks.

[@jesuslopez-tb1jf]

Hi first off thank you for this wonderful information and a lot easier than the study material i have to go thru however, I honestly was not aware of risk management and how much goes along with that. My initial goal is to learn business management and figured risk management in included in that.. i guess my question is if I continue my education for business management will that allow me to see more risks thru documented risk information.?? or should it be more first hand approach meaning i go thru all phases of the company and see what risks are really affecting the company to make an effective plan.?? i am really interested to know since I feel that I am really good at taking something someone has already done and making it better or complimenting said thing im also good at predicting and planning for issues ahead and i am wondering if this field will be good for me to really dive into.. im actually in Mexico city and I feel a lot of the companies down here do not have a good risk management framework which is why im diving into this subject. hopefully I can get a reply and if so thank you very much once again.

[@Risk-Doctor]

Hi Jesus, thank you for your positive comment. You're right that risk management is part of business management, but it is also a subject on its own, and it is also a career choice and specialism. If you study business management, you'll certainly learn something about managing risk, but there is no substitute for actually doing it! Identifying and managing risk is not an academic exercise! It is an essential part of meeting our objectives, and it applies at all levels, from top-level business strategic objectives, right through to detailed operational and project objectives. There is a real need for specialists who truly understand risk, and who can provide practical support to companies in managing risk effectively. Go for it!!

[@manilla1107]

هل يوجد مصطلح حوكمة المخاطر؟ لو سمحتم شكرا لكم

[@Risk-Doctor]

Thank you for your question. I hope it's OK for me to reply in English. Yes, the term "risk governance" is used widely. The best definition comes from the IRGC (International Risk Governance Council), who say this: "Governance refers to the actions, processes, traditions and institutions by which authority is exercised and decisions are taken and implemented. Risk governance applies the principles of good governance to the identification, assessment, management and communication of risks.". See here: irgc.org/risk-governance/what-is-risk-governance/ I hope this is helpful.

[@chetanasin9150]

Thanks

[@Risk-Doctor]

Welcome

[@Joseduran-wi7zr]

Excelent

[@Risk-Doctor]

Thanks Jose!

[@airuniversity8024]

which technique is best for risk identification ?

[@Risk-Doctor]

Thanks for your question. In this video I try to give an answer! There is no one best risk id technique - which is why we should always use several techniques.

[@abrogard142]

He'd drive you nuts this bloke. He's making it all up or did make it all up.

[@Risk-Doctor]

Hi, I'm not sure whether you're disagreeing with what I'm saying or not! I should say that what I say in these videos isn't made up on the spot, but I'm aiming to distil the results of 35 years experience into a short time. Part of the job of a thought-leader is to discover new things and share them with others, and some of my ideas have been innovations that others have adopted - perhaps that might count as "making things up"? Anyway, thanks for watching my video and for your comment.

[@danielbalev991]

4:03 "...there is no best technique..."

[@Risk-Doctor]

You got it! Although perhaps it's more accurate to say that there is no single risk id technique that is best n every situation. However, in any given circumstance, there might be one or two techniques that work better than others.