The Power of Friday Reflection: Unlocking Insights to Anticipate and Learn from Risks
designACE - your daily resource for meetings and workshopsAs a leader, you know that risks are part of any project or work environment. But you also know that risks can be opportunities for learning and growth, especially when navigated with foresight. If you want to get better at anticipating challenges or learn how to support your teams through risks better, you need to add these three questions to your team retrospectives and stand-ups.
At the end of the week or design sprint, you can review and acknowledge your risk management strategies and outcomes, anticipate and plan for potential risks next week, and collaborate with and support team members facing similar risks using these essential questions.
Try these questions today and see how they boost your confidence and solidify your chances of project and team success.
When to ask these reflection questions?
Before starting a new project or task, share any risks or potential snags in the plan you or your team members have already identified.
After facing a challenge or setback, see how you and your team handled it, and what you learned.
When deciding or taking action, work together to predict what risks might be involved and how you might mitigate them.
When planning for the week ahead, brainstorm what potential risks still exist that you may need to combat in the near future.
Vote by Comment: Which of our reflection questions is your favourite?
Vote by commenting inline and tell us which reflection question is your favourite. Bonus marks if you answer the question too!
What was the biggest risk we managed this week, and what did we learn?
What potential risks do we need to prepare for next week?
How can you support other team members who might face similar risks in the future?
Asking these questions regularly can help you and your team create a culture of continuous learning and development. You can use these questions to show interest and care for your team’s well-being and growth. You can also use these questions to share your experiences and insights with your team.
Let’s explore each question to see how they can foster self-reflection and progress for you and your team.
Question 1: What was the biggest risk we managed this week, and what did we learn?
This question helps you identify and analyze the risks at the forefront of your team’s week. It is a great opportunity to dissect them and share how you dealt with them and what you learned. Lessons learned can span many topics, from providing a deeper understanding of a problem or stakeholder, challenging you or a member of your team professionally and helping to develop or hone a new skill, or even being a new coworker or team someone was introduced to related to the risk or its mitigation.
Sharing what risks you faced and how they affected the work or well-being of the team is time well spent. Dedicating even more time to discussing how you might get better at resolving or mitigating them builds lasting skills in business strategy and design.
Why this question is impactful
Managing risks can help you avoid or reduce adverse outcomes or consequences and increase your chances of success. Learning from risks can help you enhance your skills, knowledge, and performance. By asking this question, you can show your resilience and adaptability as a leader and a team member. You can also demonstrate (and repeat) how your team works cohesively to solve problems and overcome difficulties.
Follow-up Questions:
How do we identify and assess risks as a team?
How do we document and share our risk management strategies, outcomes, and other stakeholders?
Does this risk still need managing?
Question 2: What potential risks do we need to prepare for next week?
While we shouldn’t pretend to have a crystal ball, stretching our minds to imagine the future is a great way to prepare for what may turn into an unpredictable week. This is especially true if a project has many team members or moving parts. In this case, it's recommended that you revisit future-facing risk questions like this one more often than not.
This question helps you anticipate and plan for the possible risks you may face next week. You can share the most likely or impactful risks you or your team need to be aware of or ready for and explore any preventative actions or strategies you can apply to minimize the effects.
Why this question is impactful
Preparing for risks can help you reduce uncertainty and increase confidence in your work. It can also help you save time, money, and resources in the long run. You can show your proactivity and foresight as a leader by asking this question. You can also inspire your team to take action and achieve results.
Follow-up questions:
How do we prioritize and allocate resources for the potential risks as a team?
How do we monitor and control the potential risks as a team?
Is there anything we can do right now to help minimize the risk next week?
Want help monitoring risk?
Check out our free ROAM template. This activity will help you develop effective mitigation strategies and contingency plans.
Question 3: How can you support other team members who might face similar risks in the future?
This question helps you foster a culture of support and collaboration in your team when managing risks. You can share how you can offer or ask for support from your team members who might face similar risks in the future, whether emotional, practical, or informational. You can also share how this support can improve your work or well-being. Planning for risks and solving challenges is a great way to learn important lessons, so be sure to share your tips and tricks or even a story or experience.
Why this question is impactful
Supporting each other is a crucial teamwork component. It can enhance your team’s trust, cohesion, and performance. It can also improve your team’s mental health and happiness. By asking this question, you can show empathy and compassion for your team members. You can also express your willingness to give and receive support as needed.
Follow-up questions:
How do we communicate our needs and expectations as a team?
How do we create a safe and supportive work environment for our team?
What is unique about the support you gave or received?
Check out our blog: Power Up Your Team: How to Identify and Utilize Your Team’s Superpowers.
Putting Your Reflection into Action
Keep in mind that the purpose of this dialogue is not to point fingers but rather to facilitate clear communication and propel the team toward success.
Pro Tips:
Create a SMART risk management plan for each team member’s tasks and goals.
Monitor and control risks, celebrate outcomes, and support each other in the risk management plan. Host a risk review regularly.
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Take Away
With these three risk-oriented questions, you are now ready to manage and learn from risks. By asking these questions every Friday, you can review and acknowledge your risk management strategies and outcomes, anticipate and plan for the potential risks in the next week, and support and collaborate with your team members who might face similar risks.
Try these questions today, and let us know which one is your favourite.
