For Bob to respond, first he has to know what you mean by a risk. Bob will likely stare at the ceiling, watch and phone before he gives you a few generic risks and leaves.
Another approach is for you to come prepared with a long, prescriptive list of common risks:
You ask: “Bob, do you have Compliance Risk?” (I call this the Go Fish method as it resembles the card game by the same name. Asking Bob if he has Compliance Risk is similar to asking if he has any 7s.)
Bob pauses a moment then tells you he doesn’t have any Compliance Risk (read: Go Fish) so you ask him if he has any Human Resources Risk. This goes on until the list is exhausted. Maybe Bob identifies a list of 20 risks he thinks his has.
The Go Fish method is also another ineffective tactic.
So how do you do this?
For starters, risk is a nebulous concept which means something different to anyone you ask. So start with something Bob will understand. Start by asking Bob about his goals: “Hey, Bob, tell me about your strategic objectives.”
This is something Bob can talk about with ease. What’s more Bob is probably up all night unable to sleep because he is thinking about not meeting his strategic objectives.
Bob tells you he has two measurable objectives: (1) he needs to increase domestic sales by 20%, and (2) he needs to set up an office in Colorado.
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