When the margins get thin
Richard Collins once summed up risk management, a subject that now elicits PhD-level jargon, in four simple words: “it’s all about margins.” Shave the margins too close and you’re one bit of bad luck away from an accident. The importance of those margins was driven home for me on a recent flight in a Pilatus PC-12, when I allowed schedule pressure to reduce them just a little too much, but not in the usual way.