5 Things Gaming Can Teach You About Risk Management
Gaming can give people all sorts of skills, with risk management definitely among them.
Let's take a look at the top five things playing games can boost risk management abilities.
- Gathering information to make a plan
Gone are the days where playing video games was all about battering buttons as fast and as hard as possible - there is a lot more strategy involved these days.
What this means in practice is gathering information has become a key part of playing a lot of the top new games, which is similar to risk management.
By getting as much information as possible, it is easier to make informed decisions, which is what risk management is all about.
Let's use Starcraft II and Warcraft III as a couple of high-profile examples from the gaming world. In both of these games, professional players will usually start out by scoping the opposition base, gathering as much information as they can to inform future moves.
- Exploiting limited time offers
When playing games such as online slots, it is vital to make the most of offers and promotions while they are up for grabs - they are usually only going to be around for a limited time.
For example, players who use free spins offered as no deposit bonuses are giving themselves a chance to win cash without having to put any of their own hard-earned money on the table.
No deposit bonuses are becoming more and more common in the online casino industry as companies try to find new ways to tempt people into signing up and playing on their sites.
With so much competition out there right now, the promotions are becoming ever more generous, albeit with the proviso that players have to make sure that they get in quick before they are replaced or deleted.
Risk management is all about taking gambles - as long as they are deemed to be worth it - so games like online slots can have a key part to play in developing these abilities too.
- Learn from the mistakes that you make
Everyone makes mistakes, whether they are in a high-powered risk management role or simply playing one of the great video games that are available to buy right now.
The challenge is to learn from mistakes that are made, chalk it up to experience, and make sure that it does not happen again in the future.
Some games, for example, have a very steep learning curve that means players have to ensure they do not fall into the same traps again and again, with the Dark Souls games among those that are infamously tough to get through.
Playing Dark Souls games are a testing experience that helps gamers learn risk management.
- Fail to prepare, prepare to fail
In addition to gathering information, a lack of proper preparation can be fatal in games and extremely costly in the pressurized environment of risk management.
Open-world games, such as the wildly popular Skyrim, offer games an experience they can curate for themselves, with lots of decisions to be made over which quests to go on.
Of course, the loot that can be up for grabs in these quests makes them extremely alluring, but the risk is that players might not be prepared for the dangers that lie within.
Core skills have their benefit but players may also find specializing in one or two other areas can come in very handy over the course of a gameplay session on their favourite titles.
Proper preparation, by scoping out quests in advance, is a plan in games that copies the kind of thing people that working in risk management jobs do on a daily basis in the office.
- Teamwork makes the dream work
The importance of working well in a team is clear in many games, as well as in risk management, so lone wolves may find they have to be more discerning in this area.
In a lot of games, the focus is now on multi-player to allow people to team up with friends or family, while risk management also involves being able to operate in a group setting.
The more heads the better when it comes to assessing evolving threats, which is the case whether people are working in risk management or playing an RPG with their mates.
All of the above factors show how gaming can teach people a lot about risk management.
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