Risk Management

  • 1.  Prudent Risk Taking

    Posted 09-16-2025 11:54 AM

    Is there such a thing as a prudent risk and if so, what is an example?





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    Mitch Winkler P.E.(inactive), M.ASCE
    Houston, TX
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  • 2.  RE: Prudent Risk Taking

    Posted 09-18-2025 05:11 PM
      |   view attached

    Mike

    I have attached a copy of some risk management slides from a PM course I present. Hope this will assist you.

    Regards



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    Stephen Leach C.Eng, M.ASCE
    Consultant Executive
    Luling LA
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    Attachment(s)

    docx
    Risk Management Input.docx   14.45 MB 1 version
    Original Message


  • 3.  RE: Prudent Risk Taking

    Posted 09-22-2025 12:24 PM

    Thanks, Steve, for sharing. This is very useful and complements the risk management primer.



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    Mitch Winkler P.E.(inactive), M.ASCE
    Houston, TX
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    Original Message


  • 4.  RE: Prudent Risk Taking

    Posted 09-22-2025 12:27 PM

    C'mon Community members. Is this question that hard to answer? Take a risk!



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    Mitch Winkler P.E.(inactive), M.ASCE
    Houston, TX
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    Original Message


  • 5.  RE: Prudent Risk Taking

    Posted 09-27-2025 07:14 AM
    Edited by Mitchell Winkler 09-28-2025 08:30 AM

    Here's the AI definition of Prudent Risk

    "Prudent risk" refers to making decisions and taking actions that are careful, sensible, and well-thought-out, especially when facing uncertainty or potential harm. It involves carefully weighing the potential costs against the potential benefits, avoiding unnecessary or reckless risks, and ensuring that even if things go wrong, the negative consequences are managed and limited. This is about strategic risk-taking-understanding risks clearly to make informed, smart decisions, rather than a complete avoidance of risk or impulsive, high-stakes gambles. 

    There are four options for managing a risk: taking, treating, transferring, or terminating. I think 'prudent' is too imprecise for engineering purposes. If one is going to take a risk (treated or not), one either accepts the risk or does not. 

    What do others think?



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    Mitch Winkler P.E.(inactive), M.ASCE
    Houston, TX
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    Original Message


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