Visualization of Your Risk

Did you visualize your  risk? How can we see some risk without happening. For example, you can not visualize the risk of earthquake, if you did not see it any other city. In simple words, our experience can be helpful to visualize risk better way. It is true saying, our bad judgement teaches us experience and our good judgement teaches us success. So, you can try to visualize your own and your business risk just like me.

My Experience of Happening of a Risk

Yesterday, I was just going to carrying a carpenter for selecting the mirror. Actually, like other youths, I am also interested to do some exercise just front of mirror. So, my carpenter made its frame. Now, we had bought the mirror and returning to road. Size of mirror was 4 foots X 3 foots. My speed on the bike was just of 10 kms/hr. My carpenter was holding my mirror and sitting just back of my bike. On the GT road, he fell down on the road from my bike. My mirror broke down and my bike also fell down on the road because I was just seeing him and his position on the road. Thanks God, there was not any injuring to me and my carpenter. But following risk may be happened.

(A) I carried my carpenter. If major injury happened. I had to pay for this. Suppose, his labor was just for Rs. 100 but due to this injury, I had to pay Rs. 1,00,000 for more just within few seconds.

(B) Suppose, on the road, if a big truck hurt. If that carpenter dies in this road accident, who is responsible. I only will have to be the responsible for this. At that time, cost of remedy will be more than Rs. 5,00,000 for his family which I have to pay.

Visualization of Risk from This Experience 

Now, I am trying to visualize my this past experience. I often carries my friends on my bike for long tour. They have their own family, wife and children. Who will be responsible, if any accident happens in the future. Of-course me! Even, I drives very safely. But, it is 100% possibility of road accidents. So, I am sharing this risk  to the families of my friends and with you. Before carrying your friend and other worker, tell them that it is risky journey. So, if you are ready to tolerate, I am ready to carry. Otherwise, I am ready to go single without your help.

  Important 

{Above example and visualize is just from my personal experience. You can also use it in business when you are doing your duty of risk management in your area of finance. Try to search and find experience of other persons and then visualize your business or project's total and expected risk for managing it better way. }


Related : Life Insurance

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Accounting Education: Visualization of Your Risk
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Accounting Education
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