PAPod 512 - Picking Up Pennies in Front of a Steamroller: Understanding High Risk and Low Reward

Hey everyone, Todd Conklin here from the Pre-Accident Investigation Podcast. As we transition into the beautiful autumn season in New Mexico, where the air is filled with the delightful scents of roasting chilies and pinon pine, I've been reflecting on the concept of super high risk with super low reward. In this episode, we delve into the intriguing idea of "picking up pennies in front of a steamroller," a metaphor often used in investments to describe gathering low value in front of advancing high risk. How does this apply to our daily operations and risk assessments? Join me as I explore the balance between risk and reward, and how transparency in complex systems can help us make better decisions. We'll discuss the importance of recognizing low-value activities that carry high risks and how organizations can evaluate whether these risks are worth the rewards. This episode encourages you to think critically about your work processes and to constantly develop your risk assessment skills. So, take a moment to reflect on your own "thinking place," understand that mental work can be exhausting, and let's dive into this fascinating topic together. Stay safe, be kind, and keep learning!