The seven principles of psychological safety in managing risk and uncertainty
Acknowledgements
Introduction
What is psychological safety and how does it impact organisations?
The seven principles of psychological safety in managing risk and uncertainty
Blending transparency, accountability and risk strategy
Empowering teams for effective risk management
Leveraging setbacks for informed risk management
Integrating adaptive and agile risk intelligence with psychological safety
Building a foundation of trust and oversight
Cultivating supportive environments
Organisational maturity assessment
Dealing with multicultural environments
Change management
Establishing the roadmap
Adapting the risk function
Conclusion
A personal ask
Appendix
References
Psychological safety nurtures a culture where risks are seen as opportunities for growth and innovation, rather than threats to be avoided.
In the early 2010s, Google embarked on a comprehensive study known as Project Aristotle (Duhigg, 2016) to understand what made some teams thrive while others were struggling, even when they consisted of similarly talented individuals. The project aimed to uncover the key factors that contributed to effective teamwork and decision-making within Google.
The project’s research identified that successful teams at Google did not necessarily have the highest IQs or consisted of individuals with the most impressive credentials. Instead, what distinguished high-performing teams was their ability to manage risks through open communication, shared decision-making and psychological safety. Ultimately, teams that embraced psychological safety demonstrated a remarkable ability to anticipate risks, adapt to challenges and make well-informed decisions.
Every decision, every stride toward progress and transformation, comes with uncertainty and risks. Our ability to think through these risks and critically debate them materially influences our chance of success
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