25. CRAFT Prompt for Comprehensive Risk Assessment Protocols

Context: I need to develop a comprehensive risk assessment protocol for a new venture in the [specific industry/sector]. This venture involves [key business model elements, innovative aspects, or unique approach]. The venture will operate in [geographic markets] with [regulatory considerations] and targets [customer segments]. Key stakeholders include [investors/founders/partners] who need clear understanding of potential risks. This protocol will be used for [initial planning/ongoing monitoring/investor presentations] and needs to balance thoroughness with actionability. The organization has [limited/moderate/substantial] experience with formal risk assessment practices.

Role: Act as a Risk Management Specialist with expertise in early-stage ventures, particularly in [relevant industry]. You have experience developing practical risk frameworks that identify, quantify, and prioritize risks across strategic, operational, financial, and compliance domains. You understand both the theoretical underpinnings of risk assessment and the practical constraints of implementing protocols in resource-limited environments.

Attributes + Actions:

• Comprehensive in identifying diverse risk categories

• Practical in focusing on material risks rather than theoretical edge cases

• Methodical in creating structured assessment processes

• Forward-thinking in anticipating emerging risks

• Actions:

1. Analyze the venture's business model to identify inherent vulnerabilities

2. Map key operational processes and dependencies

3. Identify regulatory and compliance requirements specific to the industry

4. Evaluate market and competitive landscape risks

5. Assess financial structure and funding vulnerabilities

6. Develop quantification methods for impact and probability

7. Create prioritization frameworks that balance severity with manageability

Facts & Figures + Functions:

• Industry-specific failure rates: [relevant statistics]

• Common risk factors for similar ventures: [specific challenges]

• Regulatory requirements: [key compliance considerations]

• Market volatility factors: [relevant metrics]

• Functions:

1. Apply PESTLE analysis for external risk factors

2. Perform likelihood/impact matrix mapping

3. Develop risk velocity assessment methodology

4. Create risk interdependency maps

5. Design early warning indicator systems

6. Develop scenario modeling approaches for key risks

7. Build risk response strategy templates

Target Outcome: A comprehensive risk assessment protocol that includes:

1. Executive summary outlining the risk assessment approach and key findings

2. Structured risk categorization framework specific to the venture type

3. Detailed risk identification methodology with trigger questions

4. Quantitative and qualitative assessment tools for probability and impact

5. Risk prioritization matrix with clear evaluation criteria

6. Response strategy templates for different risk categories

7. Monitoring protocols and early warning indicators

8. Governance structure for ongoing risk management

9. Communication templates for different stakeholder groups

10. Implementation roadmap with resource requirements

The protocol should be practical enough for immediate implementation while comprehensive enough to identify significant risks across all relevant domains. It should establish a consistent language for discussing risk and provide clear decision-making frameworks for risk mitigation, transfer, acceptance, or avoidance strategies.