Risk / Rewards of Change

Voltage Control

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Rewards of Change Template

This template helps your team consider both the risk and the rewards of choosing to make a change or choosing to keep the status quo.

Steps:

1. Describe the current state without the change.

2. Give the current state a name and put it on one sticky note.

3. Describe the change you are considering.

4. Give the change a name and put it on one sticky note.

5. Consider together the risks and rewards involved in making the change versus not making the change.

6. Do the rewards outweigh the risks?

7. What are you noticing about the change now? Did any risks or rewards surprise you?

Voltage Control

Facilitation Academy

Voltage Control is a facilitation academy that develops collaborative leaders through certification programs for product innovators, executives, consultants, and educators. Today's leaders are confronted with unprecedented uncertainty and complex change. Navigating this uncertainty requires a systemic facilitative approach to gain clarity and chart pathways forward. We prepare today's leaders for now and what's next.

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A risk matrix--also known as a probability matrix, risk assessment matrix, or impact matrix--is a tool that allows you to evaluate overall risk by visualizing potential risks in a diagram. The tool allows you to weigh the severity of a potential risk against the probability that the risk might occur. Risk matrices are useful for risk management because they visually represent the risks involved in a decision. This empowers you to avoid worst-case scenarios by preparing contingencies or mitigation plans.