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

“Working with you is like going to therapy.”

October 20, 2021

“Working with you is like going to therapy.” I was working with a client last …

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The best ideas are stolen

October 13, 2021

The best ideas are stolen I don’t remember where I first heard it, but someone said …

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It’s all about expectations

October 7, 2021

It’s all about expectations One of the most critical contributors to the success of a …

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Either you test, or your members will

September 29, 2021

Either you test, or your members will If I was forced to choose the single …

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But are you really willing to change?

September 22, 2021

But are you really willing to change? When any organization is making a change in data management …

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Two tips for data conversion

September 15, 2021

Two Tips for Data Conversion I’ve written a lot about data conversion over the years …

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Who should “own” the database?

September 8, 2021

Who should “own” the database? One of the most common questions I get from my …

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What makes you weird?

September 1, 2021

What makes you weird? When I work with clients on selecting a new association management system, one …

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Why “AMS Consortiums” Don’t Work

August 25, 2021

Why “AMS Consortiums” Don’t Work About once a year I will get a call from …

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Your vendor will disappoint you

August 18, 2021

Your vendor will disappoint you I follow politics as a hobby. A past publisher from …

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