Updated: Nov 29, 2020
Creating a list of pros and cons is essentially a risk register in its basic form.
How many of us have created a list of pros and cons? How many of you associated this practice with the risk management process?
You may have been unaware that you have been managing risks and/or opportunities for all your life. Managing risks and/or opportunities, whether it be personal or professional, is a skill set that takes practice to grow. Whether it is assessing and managing risks and/or opportunities, like taking up a new job or riding a motorcycle, there are means to weigh options and actions to either enhance opportunities and/or to reduce threats. Sometimes it is as easy as making a list of pros and cons. Other times it may involve something more extensive, like creating a risk register. Whatever means you use to weigh your options, risk management is necessary to ensure you are embracing every opportunity and/or reducing potential risks.
Want to ditch the pen and paper? Have a list of pros and cons, but have trouble making decisions? Check out this list of 5 Decision-Making Apps to Help You Pick the Right Choice as a fun exercise on the progression of your pros/cons list and how you may apply the same decision-making logic to your risk register.