Tag: risk management
When I was growing up, I was often told not to “put all my eggs in one basket”. This phrase is meant to convey the idea of risk management – being sure changes in circumstances could not ruin all plans. Even as a young adult watching my grandfather’s horses run at Sunland Park Racetrack, I knew that hedging my bets (literally and figuratively) was probably a wise strategy. Rarely did I bet on a horse to win – it was usually more lucrative to “baseball” a quinella. If luck was not on my side, after my $20 for betting was gone my friend Bob and I would become spectators for the remainder of the evening. If we hit a race or two, it meant we went home with more than we came with. Relatively cheap entertainment, punctuated with support for my grandfather’s stable of horses.
The BIMS program is now looking at the reality of not having our labs ready for the beginning of school. Our $20 in wagers is gone and now we are spectators as walls are built, cabinets are installed, and equipment arrives from suppliers. Did we put all our eggs in one basket, with the expectation that all work would be done by August 23? No. Had we done so, all those eggs now would be broken. We began contingency plans for teaching in alternate spaces before the summer began. Yesterday, science building faculty met to complete the details of what might be taught where and when in order to deliver our programs without compromising quality. We took those broken eggs and scrambled them to make an omelet – to rescue a delightful outcome from an unwanted one.