JUNE 26, 2008

Risk Quiz: Test Your Knowledge

How good are you at putting risks in perspective?  As summer gets into full swing, and many of us head out for vacation, we will inevitably encounter risks in our travels.  But the risks we worry about probably aren’t the ones likely to do us the most harm.

I know I’ve asked this question before (and I’m just as guilty of misplaced worry), but why is it that we worry more about getting on a plane than we do about getting in our cars?  We’re far more likely to die in a car accident than in a plane crash.  The chances of being involved in an aircraft accident are about 1 in 11 million. On the other hand, the chances of being killed in an automobile accident are 1 in 5000. And, when we’re at the beach, why do we tend to worry more about a shark attack than we do about drowning?  The odds of being a victim of a shark attack are 1 in 11.5 million, while the odds of drowning are 1 in 3.5 million.

My boss, Dan McGinn, attributes our misplaced worry to four factors – familiarity, denial, resignation and ignorance.

It makes sense.  If you’re familiar with something, you’re less likely to worry about it.  So, when we get in our cars every day, we don’t give it a second thought.  I’d also agree with the point that most of us are in denial in some way.  It’s the “it’s not going to happen to me” effect.  If that’s the case, why worry about it?  Resignation is also a powerful factor.  Even if we get past denial, many of us probably still continue to discount things we think we can’t change anyway.

In my opinion, ignorance is the worst factor, and one that we can most easily control.  Ignorance is not bliss. Being informed about true risks and how to put risks into proper context can go a long way toward keeping us safe.

So I ask the question again: how good are you at putting risks in perspective?  We recently created a risk quiz to help you find out.  If you have a minute, take the quiz and let me know how you scored.  (I admit that I didn’t get every question right on the first try.) I have no doubt we’ll all learn a thing or two about putting risks in their proper context.