Six Stones – 2. Quantifying the Horrible
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Of course, the Likelihood is not something we can examine here, but knowing the Impact is incredibly valuable.
Knowing this, we can:
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Examine some of our assumptions – for instance, does Louise still want to provide that level of assistance on the school fees? Will $200,000 be enough to help her Mum when the time comes?
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Work out the ‘next steps’ in the event of Louise’s death – who should what money, and when?
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Add these specifics to Louise’s Risk Management Plan.