Hi All This week’s episode of the #5minpodcast is now live. Recently, I received a message from London Business School professor Michael G. Jacobides about 2023 trends, and his first statement was intriguing. He mentioned the Black Swan and Gray Rhino concepts. I have been a fan of the Black Swan and Antifragility concepts, which portray low-probability, high-impact events. But I need to be honest, it was the first time hearing about “Gray Rhino.” In her book The Gray Rhino, Michele Wucker introduced the idea of high-probability events with massive implications. It is an analogy of a Gray Rhino moving towards you at high speed through the savannah, leaving a path of destruction in its wake. The question for us is why we miss such an evident threat. Examples like the financial crisis of 2008, the invasion of Ukraine by Russia, and the challenges of climate change are all good examples. None of them came out of nothing. They provided apparent signals, but most people still missed them. There were Gray Rhinos. Using this analogy in projects, we tend to focus on Black Swans during risk assessment and overlook Gray Rhinos. Most of our problems are obvious, evident, and, unfortunately, neglected... Listen to the podcast to understand more. Have a fantastic week ahead. Ricardo Viana Vargas #antifragility #blackswan #grayrhino #riskmanagement #riskassessment #volatility #risk #projectmanagement #pmot https://ricardo-vargas.com/podcasts/understanding-the-concept-of-gray-rhinos-and-our-negligence-to-respond-to-highly-likely-and-impactful-events/