World Economic Forum's Global Risk Report

In this episode, Ricardo explains that the risks report produced by the World Economic Forum is a source of rich information about global risks and can help a lot in during a project risk management. Download the report at http://reports.weforum.org/global-risks-2016/

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Episode transcript

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Hello, everyone. Welcome to the five Minutes PM podcast. Today. I like to talk about the global risk report prepared by the word Economic forum. And this was a release it recently. And I am just in love with the report, both in contact and our show up in the format in the infographics and so on. So I want to split to this podcast in two parts. The first one it's about competent. And the second one is about format and communications.

On the first point, this report, it's a good the break to, if you were a project manager, it's a great two for you to know too understand Global risks and why I'm sharing these with you. And I'm insistent to you to take a look on that. I am doing this because most of the time We as project managers, we think only about micro environment. We only talk about the risk of a procurement process to be delayed. The risks of I lose one key stakeholder.

This Report approach is a very different aspect that is extremely relevant for our audience awareness, its the global risks. So what do they do every year with this report, they took 29 Global major risks and put this into five groups, environmental risks, geopolitical risks, social risks, Economic risks and technological risks. So some of the risks are large scale cyber attacks, water crisis, major biodiversity loss, ecosystem, collapse, deflation and in major economy, fiscal crisis, unmanageable inflation, unemployment weapons of mass destruction.

So it's a very broadened. You may find a full list based on the report. And then the day we try to analyze which of these 29 risks are the ones we should care more does here. And then they did the traditional impact like that, the matrix and they plot all of those risks in the map, trying to find of course the high impact height like hood events. And then they found some of the key. Is it that the world needs to be aware about failure of climate change, mitigation, large scale involuntary our immigration.

We saw the refugee's the challenge in the refugees, what a crisis fiscal crisis. So showing stability, cyber attacks, interstate conflict and unemployment or under employment. So this is where the very key risks that they found that are the top risks. And of course, when I talk about this, all you make think, Oh Ricardo but they do not happen in a related way, right? They don't.

And this is why one of the graphics I like it most on the report is when they did all the interconnection among these risks, they said, look, if you have a neutral state conflict, then you can force a large scale immigration. This people that will migrate as a refugees, they, you will be unemployed or underemployed. So there is a lot of triggers on the process that one risk is start creating audit risks. So you have food crisis because you have water crisis because you fail or, and mitigate climate change.

This is just a couple of examples just to, we start. So the approach that, and it's very important that do you, as a project manager, understand that this macro and this global environment has most of the time, that's a very relevant impact on the job. You don't know. Let me give you an example. You make safe, why a should be about a potential conflict in the middle. And then I'm, I'm just talking. Can I talk about the Economic and the project team is you have a conflict there.

Maybe you have instability. Okay. And then one of the most relevant commodities on earth is the oil and legible that you have a crisis is it is in the oil with lower prices, with that, the big trouble there. And then you work in the U S in a supplier for something, and then the whole chain of supply, it will be affected. So the unemployment rate may grow up just because of that. So everything it's much more connected, it's much more interconnected and more relevant in one way.

A lot of the key things that they mention on this report, it's the same, exactly how the impact increased and how the interconnection increased. Everything is short, tight. It's like a Glu connecting all these challenges. Then we need to have a very holistic approach on that. Now on the second topic, it's about the format. Let me tell you, I will. He was in love with the format. It's such a nice, Report so well prepared. So now I want you, I should take the opportunity when you do that and you can download it for free.

Is it that you take a look at how clear is the information? Because of course, when we talk about risks and global risks, it's something sometimes very challenged to understand how to read, to agree to it. So what is very important that you transmit this information in a very clear way, and they did this in a magic way because it's very colorful, very easy to understand, very easy to add the dress I'm saying, wear the mask risks.

Our, and this is so important in a communication. So you can use the same ideas to frame your Report your natural report, because remember the communication is what makes the information fluid in the process. So it's very, very important. It's a very, very nice and look, of course, where do you want to know the website? So the website is World Economic Forum So w E and f.org. So you can download there and it's for free.

And it's a very, the very good content that we'll help you to understand the global perspectives and applied them in the project management environment. I hope you enjoyed this podcast and see you again next week with another five minutes BM Podcast.

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