1. Fill in the gaps in this script. Then watch the video below and repeat after the speaker.
Sscript.
Draggable words and phrases
0:08
Whether maintaining hospital during a pandemic ...
0:12
... or a city’s power supply in a hurricane ... all development achievements need to be in uncertain and complex environments.
0:22
Development decision-making has to be risk-informed.
0:27
There is a wide of possible risks created by the interaction of hazards, exposure, vulnerability and capacity.
0:35
But risks are not always properly considered in the planning and of development measures.
0:43
A decision-maker needs to where and how to build infrastructure projects in a manner.
0:50
During the planning of a dam, for instance, scenarios need to be to weigh possible risks:
0:56
Is there risk of flooding?
0:58
Are landslides ?
1:00
Are adequate building codes in place?
1:03
Would a dam limit the water excessively ...
1:05
... potentially leading to regional or transnational conflict?
1:10
Relevant social, political, financial, and environmental risks must also be .
1:16
And risk drivers, such as urbanisation, fragility and climate change, need to be taken into .
1:24
Could another location minimise the dam’s environmental impact?
1:27
Or is the prevention of social tension or the budget decisive?
1:32
Our decision-maker needs to evaluate and :
1:37
Is one risk more acceptable than another?
1:40
To make a decision as risk- as possible, courses of action need to be negotiated across sectors, ...
1:46
... and they must be based on strong data.
1:52
The fact is: you can't.
1:55
That's why it's important to keep talking sectors.
1:59
Governments and key stakeholders must cooperate with experts and local communities to leave no one behind.
2:07
Political participation is .
2:09
Together, they can develop a better of the risks and build up a strong foundation of solid data, ...
2:16
... so they can better prepare for complex risks –
2:19
... with the goal of strengthening resilience and safeguarding development.
2:24
All potential risks should affect decision-making during the building phase and over the entire of the dam.
2:31
This helps to minimise the risk of .
2:34
It is important to question and development measures in light of the complex, interdependent, and dynamic nature of risks.
2:43
Risk-informed development is a continuous process of addressing – and never neglecting it.
2:51
Let’s safeguard development.
2:53
And foster .
failure
ensuring
range
resilient
included
capacities
readjust
supply
understanding
common
complexity
coping
key
implementation
drawn up
informed
resilience
prioritise
account
determine
across
lifecycle
safeguarded
Total Questions: 0
Incorrect Answers: 0
2. Based on the video and the exaples drawn in it, record answers to these questions:
Interviewer: Let’s talk about risk-informed development. Imagine that a government is planning to build a dam in a region exposed to floods, landslides, and social tension. What risks should decision-makers consider before approving the project?
Перед утверждением проекта дамбы лица, принимающие решения, должны учитывать не только технические, но и социальные, политические, финансовые и экологические риски.
Before approving a dam project, decision-makers should consider not only technical risks, but also social, political, financial, and environmental ones.
Было бы безответственно строить такую инфраструктуру, не оценив опасности, подверженность региона этим опасностям, уязвимость населения и его способность справляться с кризисом.
It would be irresponsible to build such infrastructure without assessing hazards, the region’s exposure to them, the vulnerability of the population, and its coping capacity.
Например, если район подвержен наводнениям или оползням, власти должны разработать несколько сценариев и не упустить ни одной детали.
For example, if the area is exposed to floods or landslides, the authorities should draw up several scenarios and leave no stone unturned.
Interviewer: The script says that decision-makers need to determine where and how to build infrastructure in a resilient manner. How could the location of a dam affect the level of risk?
Расположение дамбы может напрямую повлиять на уровень риска, потому что разные территории по-разному подвержены наводнениям, оползням и экологическому ущербу.
The location of a dam may directly affect the level of risk because different areas are exposed to flooding, landslides, and environmental damage in different ways.
Если бы дамба была построена в геологически нестабильной зоне, это могло бы стать прямым путём к катастрофе.
A safer location would allow the authorities to minimise risk, reduce the environmental impact, and make the infrastructure more resilient.
Interviewer: A dam can affect the water supply and may even lead to regional or transnational conflict. How should decision-makers balance technical benefits against social and political risks?
Decision-makers need to strike a balance between the technical benefits of a dam and its possible social and political consequences.
Даже если дамба улучшает производство энергии или контроль над водой, она всё равно может ограничить водоснабжение других регионов и вызвать напряжённость.
Even if a dam improves energy production or water control, it may still limit the water supply of other regions and create tension.
Поэтому власти должны оценивать и расставлять приоритеты, вести переговоры между секторами и вовлекать ключевые заинтересованные стороны, иначе проект может привести к конфликту.
Therefore, the authorities should evaluate and prioritise, negotiate across sectors, and involve key stakeholders; otherwise, the project may lead to conflict.
Interviewer: The script emphasises that political participation is key and that experts, governments, and local communities should cooperate. Why is local participation important in dam-building projects?
By involving residents, experts, and government representatives, it is possible to build up a more solid foundation of data and develop a better understanding of the risks.
Если людей исключат из процесса, они могут не доверять проекту, сопротивляться его реализации или чувствовать, что их оставили без внимания.
If people are excluded from the process, they may distrust the project, resist its implementation, or feel that they have been left behind.
Interviewer: Risk-informed development is described as a continuous process. After a dam has been built, how should authorities continue managing risks throughout its lifecycle?
Speaker 2: 00:00:04 Nowadays, of course, there’s a lot more consultation and discussion, but in the end, someone has to take the final decision, and that’s me. Sometimes you feel nervous putting your signature to a multi-million-dollar agreement. If I’ve got it wrong, well, I prefer not to think about that.
But of course, I’ve only reached the position I’m in because I’m not over-cautious by nature. I have been accused of being reckless, for example, when I took the bold step of cutting all our top-of-the-range prices by 30% last November.
00:00:34 I was proved right on that one. To an outsider, my decisions may sometimes look rash, but you can be sure I have only reached them after carefully weighing up all the pros and cons. I have a duty to the shareholders not to behave in an imprudent way with their investment.
You have to ask yourself again and again, “Am I being prudent, or is this course of action basically foolhardy?” And, of course, the other side of the coin is that I wouldn’t be doing anyone any favours by completely avoiding justifiable risks that carry the possibility of sizeable returns.
Speaker 1: 00:01:09 2.
Speaker 3: 00:01:11 I think it’s what comes with responsibility. Sometimes it feels like the whole of my daily working life is filled with risk, but that’s because I have quite a lot of freedom to make decisions.
For example, I can decide exactly what deal I offer potential clients on price or discounts. That means I don’t always know for sure that I’ve got it right. Sometimes I put the phone down and immediately I’m wondering how sensible that was.
In many ways, the biggest risk I face in my work is the risk of wasting time.
00:01:41 As they say, time is money. It’s actually my income. If you think you’ve got a good potential lead, you can spend days following up, and then the whole thing can just collapse, and you end up with nothing. So, to some degree, you have to be cautious about deciding which leads to follow up.
Speaker 1: 00:02:00 3.
Speaker 4: 00:02:01 I think most people think mainly of health and safety issues. But it’s not only that. My responsibility covers all areas of risk within an organisation: financial, legal, environmental, technological.
When I discover a potential problem, my job is to assess the severity of the loss that could result from it — maybe in equipment, or time, or knowledge, or even human life — and put a financial value on that.
00:02:29 I also calculate the probability of that risk actually happening. I can then decide which risks need immediate attention and which ones are manageable.
In many cases, you can find ways to completely avoid the risk. For example, if you determine that a staircase is potentially dangerous, you close it down and repair it. But outside of safety issues, avoidance isn’t always the most prudent course of action.
00:02:55 If you went to the CEO and advised him to avoid every risk, you’re probably going to get a deeply sceptical response. A totally risk-averse company is never going to make much progress.
Strategic business decisions, multi-million-dollar agreements, shareholders’ investment, pricing decisions, and the balance between reckless and justified risk-taking.
Financial, legal, environmental, technological, and health-and-safety risks; assessing probability and severity; deciding which risks to avoid, manage, or accept.
3.3. Summarise what each of the Speakers says about risk
Your summary should include:
the speaker’s probable job;
the main type of risk they deal with;
their attitude to risk;
one example from the recording.
Use the template below:
Useful Phrases for Summarising and Commenting on the Speakers
For him, following up the wrong lead may mean losing income.
Третий спикер имеет дело с организационными рисками, включая финансовые, юридические, экологические, технологические риски и риски, связанные с безопасностью.
The first speaker appears to be a CEO, managing director, or another senior executive. The main risks he has to deal with are connected with major business decisions, shareholders’ investment, multi-million-dollar agreements, and pricing strategy. He does not seem to be over-cautious by nature, because he believes that justified risks may bring sizeable returns. For example, he mentions cutting top-of-the-range prices by 30%, which looked rash to outsiders but later proved to be the right decision. Overall, this speaker believes that a leader should be prudent, but not risk-averse.
Speaker 2:
The second speaker is probably a sales representative, sales manager, or account manager. The main risks he has to deal with are connected with offering prices and discounts, choosing which potential clients to follow up, and possibly wasting time on leads that may collapse. His attitude to risk seems practical and cautious, because his income depends on how wisely he uses his time. For example, he says that a promising lead can take several days to follow up and then come to nothing. Overall, this speaker believes that risk in sales is not only about money, but also about time and opportunity cost.
Speaker 3:
The third speaker appears to be a risk manager, risk assessment officer, or risk consultant. The risks he deals with include financial, legal, environmental, technological, and health-and-safety risks. His job is to assess both the severity of a possible loss and the probability that the risk will actually happen. For example, he explains that if a staircase is dangerous, it can be closed and repaired, but not every business risk should simply be avoided. Overall, this speaker believes that risks should be assessed, prioritised, and managed rather than avoided automatically.