Risk Reduction Planning™
Risk Reduction Planning™ is a proprietary methodology that Novatempo® has developed.
We teach the generic methodology in our workshops. However, because its effective application requires experience and skills that only practice across many different ventures can establish, we also offer Risk Reduction Planning™ as a consulting service to entrepreneurs, investors and governments.
Simply explained, Risk Reduction Planning™ is a systematic process that focus the attention and the resources of an early stage company in solving a critical path of problems that maximizes value creation.
We have developed some theoretical formalizations that capture the process, however the technique without substancial technology and business domain expertise may be regarded as ineffective.
We often argue, that the notion of a Business Plan, as traditionally taught and promoted in MBA programs is superfluous for the case of early stage and high risk technology startups. Instead, we actively promote a document, we call Risk Reduction Plan™ that purposely assists skilled entrepreneurs and seasoned investors to execute certain well defined tasks that reduce risk and maximize the creation value.
The following series of videos, on risk management for ventures in Africa, motivates the discussion of risk management in entrepreneurship.
Part 1
Part 2
Part 3
