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Rhinos and Risk Assessments: Adjusting risk Assessment Methodologies to Account for ‘Unforeseeable’ Events
By Dr. Jo Robertson
It is wrong to describe the COVID-19 pandemic as a “black swan” (i.e. a catastrophic event that no one saw coming). Far more apt would be to call it a ‘grey rhino’ — something that has long been predicted but overlooked by leadership the world over. This paper argues that it is time to stop relying on outdated risk formulas and adjust risk assessment methodologies to account for these grey rhinos. Simply put, it is time to accept that the potential impact of an event is more important than its likelihood.
This article first appeared in the Journal of Business Continuity & Emergency Planning.
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A C-SUITE CRISIS LEADERSHIP SURVIVAL GUIDE
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Strategies for crisis management include:
- Communicating within minutes.
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- Building and maintaining credibility.
- Shaping your own narrative.
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Your Crisis Leadership Expert
Dr. Jo Robertson a leading expert in heading off and containing crises, has a doctoral degree in Crisis Management and more than 20 years of experience keeping companies like yours out of crisis.
As Global Director of Emergency Preparedness for Capital One, she orchestrated the creation of a coordinated universal emergency preparedness program.
As Director of Crisis Preparedness for Arkema, she rebuilt and re-energized US crisis preparedness initiatives for France’s leading chemicals producer.
At Deloitte Services, Dr. Robertson led the national crisis management program for 100+ offices of 45,000+ professionals.
As Vice President for Marsh Crisis Consulting (formerly the Corporate Response Group) she designed, developed and delivered a wide array of services for senior corporate and C-Suite clients. Examples of the services she delivered are crisis communications planning, media training and real-time support for clients currently in crisis. She also has experience in delivering complex crisis management exercises.
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