One of the most overused expressions thrown around by wannabe “Wall Street Rambos” is business is war. But sometimes war tactics really can help in business.
A 6-Part Tool for Ranking and Assessing Risks
Developed during World War II, CARVER is a tool for assessing and ranking threats and opportunities. It can be both offensive and defensive, meaning it can be used for identifying your competitors’ weaknesses and for internal auditing. CARVER can help risk management professional think through an asset’s criticality, accessibility, recoverability, vulnerability, effect, and recognizability. Since it draws on both qualitative and quantitative data, CARVER can be applied in almost any scenario that is analyzed and discussed in an organized, logical way. It can be highly useful if you need to, for example, defend a budget request or a strategic plan to company leadership. Because it helps you articulate an efficient story using numeric values, CARVER can be used to clarify mission objectives — whether on the battlefield or in the boardroom.