When you face risk, one way to go forward is to work to get more data that will let you reduce the risk in your mind and gain comfort.
It Comes Whether You Want It or Not
Another way to look at a risky situation is that, in an uncertain terrain, more and more data will be coming at you. You can’t stop it from coming. You CAN watch for it, take it in, reject nothing, compile it, assemble it, deduce from it, learn from it. Risk = more data inbound. Always. If you’re watching.
What If The Risk Is Still Too High?
If the risk remains intolerably high, it might mean you don’t have enough data. You may be at the point of needing the last data, and they’re hard to come by. Your competitors probably don’t have the last data either. What will you do to win the project?
When you’re smart enough to isolate the last data you need and obtain it, your risk falls. But your competitors’ risk stays the same, and they may decide not to play.
If they play, they will make untenable claims in the proposal because they don’t know how else to address the risk. Your client might see through their claims. Use your meeting time with the client before the decision is made to point out the “risky” areas in the scope of work, point out how you solved the problem in your proposal, and how others might not have. In the end, you win because you knew that risk is just data.
Does this help how you think about risk? How can you make your next proposal easier and make it more likely to win? Please join the discussion.