How do you know whether to speed up (take the risk), slow down (minimize a risk), or even stop if you don’t understand all the things that might happen? You have to be able to assess and evaluate both the good and the bad so what you put on each side of the scale is in fact comparable.
strategic risk management
Norman Marks discusses points from a recent paper, Feeling hungry? A simpler, more intelligent approach to risk appetite, written by Chris Burt of Halex Consulting.
While the cost of control is certainly something to consider, there are times (many, many times) when more risk should be taken because of the potential for increased reward.