When stakeholders overlook critical risks, emphasizing the impact through compelling statistics can be a game-changer. Here are some strategies: -Present Data-Driven Evidence: 75% of large-scale projects fail to meet deadlines, stay within budget, or achieve their objectives due to unaddressed risks (PMI, 2021). -Engage Stakeholders in Risk Assessment: Research shows that projects with active stakeholder involvement are 20% more likely to succeed (Stanford Study, 2023). -Use Visual Aids: Visualizing data improves comprehension and impact. For example: A heatmap showing risk likelihood vs. impact. -Leverage Scenario Analysis: Simulations demonstrating worst-case scenarios can show stakeholders the potential fallout of ignoring risks.

I was tasked with writing a pandemic plan for a large organisation and luckily the World Health Organisation provided a pretty good template, which enabled the user to quantify potential risks and consequences. The plan was produced circa 2006 with a costed list of actions and supplies to be purchased and stored. The plan was presented to senior management who after consideration declined to act on the plan due to the probability of a pandemic occurring and the associated cost of implementing the recommendations of the plan. The plan was consequently put on the shelf when I left the organisation and I often wonder if it was dusted down when COVID occurred?

If stakeholders are ignoring the risks you've pointed out, here’s what you can do: Make sure your risk report is clear and backed by facts. Ask for a meeting to talk through the risks and explain how they could hurt the project or business. Share solutions or ways to reduce the risks. If the issue continues, consider involving higher management to stress how important it is to address these risks before they cause problems. Building trust and keeping open communication with stakeholders can also help them take the risks seriously.

The assumption is reporting risks, impact on the governance forum will draw stakeholder’s attention. It is essential that the risks, likelihood, impact are discussed with past examples, data. For instance, the focus post project initiation could be on progress vs plan, and cyber hygiene training may get a lower priority. To address such mis-alignment, follow below path: 1. Present critical, high risks to stakeholders. 2. Justify the gravity of risks with past examples, data trend, impact caused. 3. Agree on risk mitigation path with a cost-benefit analysis, impact if risk not mitigated. 4. Continuously monitor, adjust mitigation plans, present to stakeholders. 5. Highlight to Leadership if these steps do not get the required action.

Whenever I face stakeholder disregard for highlighted risks. By organizing a risk workshop, we use real-world scenarios to demonstrate potential impacts. This engagement shifts perceptions, leading to a collaborative risk management approach. Key takeaways for all: 1 Use real-world scenarios to illustrate risks. 2 Engage stakeholders through workshops. 3 Foster collaboration and shared understanding. 4 Communicate clearly and consistently. 5 Align risk management with stakeholder interests.

As professionals, we’ve all faced moments where stakeholders overlook critical risks we’ve identified. Managing this challenge requires more than just expertise—it demands a robust risk management program with strong governance. A well-structured program ensures risks are communicated effectively, supported by data, and aligned with organizational goals. Governance creates accountability and drives informed decision-making, helping stakeholders understand the balance between risk and opportunity. By fostering collaboration and transparency, we can turn overlooked risks into strategic priorities that safeguard and strengthen the organization.