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Balancing Risk and Reward

Balancing Risk and Reward. Rodney Denno, President Secure Open Systems Inc. ISSA Vancouver Chapter - September 21, 2005. Who am I?. I’ve worked on international standards Small business security and RM Global payments organizations (RM and Privacy) Two patents

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Balancing Risk and Reward

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  1. Balancing Risk and Reward Rodney Denno, President Secure Open Systems Inc. ISSA Vancouver Chapter - September 21, 2005

  2. Who am I? • I’ve worked on international standards • Small business security and RM • Global payments organizations (RM and Privacy) • Two patents • Yet never heard anyone talk about the human side of RM and how individuals make decisions

  3. Decisions, Decisions • Understand how to manage business risks (Technology, Legal and Opportunity) and by understanding how your own Personal Risk Management Style effects your decisions

  4. FUD • FEAR • UNCERTAINTY • DOUBT

  5. Is this YOU?

  6. Are You? How many believe you are risk managers? How many believe you are good risk managers?

  7. How many F’s FINISHED FILES ARE THE RE- SULT OF YEARS OF SCIENTIF- IC STUDY COMBINED WITH THE EXPERIENCE OF MANY YEARS

  8. Social

  9. Social

  10. Social

  11. Psychological

  12. Psychological

  13. Psychological

  14. Neurological

  15. Neurological

  16. Neurological

  17. Neurological

  18. Cellular

  19. Cellular

  20. Cellular

  21. Molecular

  22. Molecular

  23. Molecular

  24. Principle #1 FEAR is a fundamental part of who we are. Don’t negate it, embrace it as a positive part of your being.

  25. Principle #2 You can change the effect FEAR has on you from one of negative/destructive to one of positive/supportive.

  26. Principle #3 The words we use determine so much of who we become and tell us so much about who we are!

  27. Action Recognize and Nurture the risk taker in you. Find the Master Risk Balancer in you.

  28. Action RM strategy must be based on “Eyes Wide Open” strategy NOT “Eyes Wide Shut” strategy!!

  29. F E A R False Evidence Appearing Real

  30. Think about You!

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