All decisions involve risk

All decisions involve risk

Whether it's choosing a new AMS or introducing a new product or service, every decision you make involves risk.

There are two factors to risk: likelihood (probability of something bad happening) and seriousness.

To illustrate: the likelihood of a plane crash is exceedingly small, but clearly, its seriousness is very high. On the flip side, the likelihood of a traffic jam in the DC area at rush hour (pre-covid!) is high but the seriousness of being late for something is typically low.

In the case of choosing an AMS, depending on the process used, the likelihood of complete failure is probably pretty low, but the seriousness of total failure (time and money) is pretty high. So you want to be sure you have a time-tested process for ensuring you're making the right decision.

So when making any decision, consider the risk involved and the likelihood and seriousness of that risk coming to fruition. If both likelihood and seriousness are high, it may not be a risk you want to take. But if the likelihood is low and/or seriousness is low, you may proceed cautiously!

Wes's Wednesday Wisdom Archives

Have the courage of your convictions

May 12, 2021

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Even your online directory is out of date!

May 5, 2021

Even your online directory is out of date! Back in the day of printed directories, …

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Start small

April 28, 2021

Start small When I work with my clients on projects that involve measuring member engagement, …

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Some context, please

April 21, 2021

Some context, please A pet peeve of mine: A report about associations (e.g., marketing benchmarks report) where …

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Eventually automated emails get ignored

April 14, 2021

Eventually automated emails get ignored During the discovery and development phase of implementing a new …

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The challenge the AMS providers see

April 7, 2021

The challenge the AMS providers see Over the years I’ve asked AMS providers what they …

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Be careful about “solutioning” too quickly

March 31, 2021

Be careful about “solutioning” too quickly One of the great things about software developers is …

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What’s our next action?

March 24, 2021

What’s our next action? As you can imagine, I spend a lot of time in …

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Don’t automate for the sake of automation

March 17, 2021

Don’t automate for the sake of automation I’m the laziest person in the world. I …

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Don’t forget about what got better

March 10, 2021

Don’t forget about what got better Negativity bias is the tendency to focus on only …

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