What to Do When the Downside Risk Event Occurs

You have done all your risk management in advancecan surround yourself with to clearly describe the
and understand the risks. There is a downside risk ofsituation you now own. If you are the right person
1 in x of unfavourable and possibly catastrophicto lead the response then offer yourself up as the
outcomes. You mitigate to the best of your abilityleader. If you know someone who would be a more
and take the view that the benefits that will accrueappropriate leader engage them and offer to support
from your decision will far outweigh the possible risks.them in their role in every way you can. Keep a calm
You take the decision to proceed and then anhead and do not react to those who are criticising
unforeseen event causes a catastrophic outcome foryou or slinging mud your way. Keep focussed on
your activity. At this point many people flee andwhat needs to be done to address the situation that
work hard to ensure their name cannot behas arisen. Use all of the skills you used to get to the
associated with what took place. Strong organisationslevel you are currently at to apply your energy to
will not allow this to happen as accountability will havethe task in hand. Remaining level headed and getting
been clearly established before, during and after thedone what needs to get done will all be remembered
event. If you are the owner of one of thesewith power when the current work is done.
decisions how you now act will determine the sort ofThe second step is to accept for yourself what has
future you can expect. This will usually range from nohappened and be willing to suffer the consequences
future at all in the industry you are in to being givenfor your career. Remain accountable with the decision
a second chance and rising to the top.you took. You may suffer with the current company
The first step is to acknowledge that the event hasyou are with but you will suffer less than backsliding
occurred and to describe as fully as you can theor distancing yourself from a decision you took. Hold
consequences. Don't at this point waste time onfirm with sound integrity and there is a good chance
blame and finger pointing. Stand tall and explain clearlyyou will be given another opportunity to show what
what has happened and engage the best people youyou can do.