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Human beings, particularly leaders in the community sector, often exhibit an inherent optimism bias, assuming things will turn out favorably despite potential risks. However, this optimism can hinder effective risk management practices, leading to overconfidence, cutting corners, and unrealistic expectations.

In the not-for-profit and charity sector, where leaders aim to achieve missions with limited resources, optimism can be particularly pronounced.

The Institute of Community Directors Australia (ICDA) emphasize the importance of identifying, evaluating, and mitigating various risks, including physical, professional, environmental, employee, financial, criminal, and regulatory risks.

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Olivia Mitchell