Transitioning From Risk To Resilience

Covid-19 has shown that there are systemic risks that do not readily lend themselves to quantitative risk analysis. While a pandemic has been recorded on most professional risk registers for a while, the challenges posed by the likes of the Coronavirus were not fully acknowledged and have shown risk (and some scientific) assessments to be wanting in helping shape our responses.

This whitepaper from Resilience First tries to look afresh at what is needed in a revised risk- management framework. It starts with the premise that consequences or impacts are more important than causes or probabilities. If one accepts this assertion, it is possible to recommend a framework that has more qualitative components which focus on the softer skills. These may have an element of imprecision but they are the ones that will have most influence on outcomes – and confer resilience.