“Intelligent Risk taking” is a method one can utilize to visualize possible outcomes of a decision and pick the best one.
It involves answering a series of phases in which you will ask questions and analyze results:
First, Clearly definine the topic you need to address so that you can be sure you are working on the actual issue at hand. Once You’ve done that, think through and describe the intended outcomes you want to see, as well as potential unintended and/or negative outcomes as well as what barriers stand in your way with the following questions:
- If I do this, what potential outcomes could I expect?
- What will I potentially gain long-term by taking this risk?
- What could I potentially lose?
- What stands in my way?
- How will I overcome this obstacle?
- What am I still uncertain about?
- What “s the worst that could happen?
- Do I really have anything to lose?
- Are the rewards worth the risk I “m about to take?
- Is this an intelligent risk to take?
Taking Stock of the Past
Next, you want to take into account t your last experienced. While you don “t want to be limited by previous behaviors, you want to identify any patterns (both positive and negative) that might affect what “s happening or being planned in the present.
- Have I done this before?
- How did thing turn out?
- How did others do in the same situation?
- What mistakes were made?
- What can I learn from this?
Action Plan and Timeframe
If you decide to move forward, its time to determine how to act, and set a clear timeline for achieving the intended outcomes. Ask yourself:
- What is the best time to take this risk?
- How will I handle any negative consequences or outcomes of my actions?
- What specifically has to happen for this to succeed?
Quite simple – get out there and do it!
Once you’ve finished everything, it’s time for some more of that thinking stuff. Ask yourself:
- What have I learned from this experience?
- How can I use this experience to help improve my future results
An example of this would be:
Q: Should I surf in the ocean in Maui?
phase 1 answers: the water is beautiful but there’s a lot of reports of sharks attacks. Potential is death but that’s not super high (although higher than other beaches.) would get bragging rights.
Phase 2 answers: have surfed before, was fine. Have seen sharks In aquariums, they seemed ok. Saw jaws, wasn’t impressed.
Phase 3: might as well go do it when the beach is accessible.
Phase 4: success, no shark attack! Win!
Phase 5: analysis = I’m immune to sharks.
Originally Posted: https://www.quora.com/What-are-some-examples-of-taking-an-intelligent-risk
Originally Posted On: 2016-03-18