If we were to look up the definition of the word myth, we would find that one definition is that a myth is a “widely held, but false belief or idea.” In many respects a myth is much the same as a false assumption – “factors that, for planning purposes, are considered to be true, real, or certain without proof or demonstration.” In other words, if we know that a belief is false, then it is not an assumption. Also, if we know something to be verifiable then it is not an assumption but a fact. Importantly, all assumptions are risks and should therefore be recorded and subject to risk analysis.
Myth 1: All risk is bad. Risks are potential problems, and if they happen then we are in trouble. The Truth. Risk includes both threats and opportunities, … Read More »