What sport and business have in common

Alpine skier Billy Major and the President of T&T Salvage Mauricio Garrido are both experts in their respective fields. Here, they answer questions about risk, revealing similarities between sport and business, from quick thinking when hazards emerge to a comprehensive use of data and modelling.

Billy Major in action during the Audi FIS Alpine Ski World Cup men's slalom in January in Adelboden, Switzerland.

How do you define risk in your sport or profession?

Billy: In ski racing there are different forms of risk. There is obviously the physical risk, but also the sporting risk, which is the outcome of the race. I think everyone can agree, it’s a pretty dangerous sport. But there’s also the risk of making a mistake and ultimately crashing out so that your day is over. It’s quite tough mentally and that’s also where the risk comes from.

Mauricio: In the marine salvage industry, risk is fundamental to our business model. Unlike many sectors of the maritime industry that prioritise risk avoidance, we operate under a risk–reward framework. This means we actively engage with risk as part of creating value. We define risk as the potential for harm, loss or failure during the salvage of an imperilled vessel and its cargo, assessed through two dimensions:

Likelihood – the probability that an adverse event occurs during operations, influenced by factors such as weather, vessel condition and operational complexity.
Consequence – the severity of operational, environmental and commercial impacts if that event occurs, including safety hazards, pollution, financial exposure and reputational damage.

This definition drives our approach to risk assessment and management, ensuring that while we embrace risk for potential reward, we do so with structured analysis, mitigation strategies and compliance with international standards.

How do you assess and prioritise risks?

Billy: The traditional risks that most people would identify might be the slope being very steep, very icy or very difficult. I don’t even process that, really, because we’ve done it so many times. The risk that I identify is the difficulty of the terrain. In slalom, it’s all about the change in terrain, going over rolls in the slope, breaking over from a flat to a steep and the course that you are racing down. It changes every single run.

Mauricio: When responding to a vessel in distress, risks will only be clearly identified after a thorough assessment of the situation has been conducted. Like a hospital’s emergency room, the patient must undergo a series of quick yet precise tests and evaluations before a diagnosis and treatment are determined. With a solid assessment on hand, the Salvage Team Leader will be able to develop an action plan with established risks and controls focused on those that can deliver the most adverse impact to the operation.

What role does preparation play in managing your risks?

Billy: We’re doing about 65 turns in a course and taking up to 2–3g each turn. It’s really demanding on the body. To ensure that your body is prepared for it takes years of training in the gym. You also have to ensure your equipment is tuned and prepared to perfection. Every detail matters. Something I’m working on now is the angle of my boot cuff. That’s the top half of my boot and I’m moving it by point one of a degree and it has a huge effect on my skiing.

Mauricio: Preparation is the cornerstone of risk management in marine salvage operations. Every successful outcome begins long before the first line is secured. It involves selecting the right team with the necessary expertise, deploying the appropriate equipment and developing multiple contingency plans – Plan A, B and C – to address evolving conditions.

Equally important is acknowledging that every salvage operation carries inherent risk. Underestimating the complexity of a situation is the fastest path to failure. By accepting this reality, we remain vigilant and prepared for unforeseen challenges, ensuring that our response is proactive rather than reactive.

Can you describe a situation where you had to adapt quickly to an unseen risk?

Billy: In ski racing you don’t get to ski the course prior to the race but you do get to inspect it. Last year, on the second run of the World Championships, I was going really well. I came towards the bottom with a lot of speed, but I came very, very close to going off the course. I just managed to reassess and fit my ski the right side of the gate. When you’re inspecting a course, you can see the distance, but it’s very hard to imagine exactly how that’s going to feel with the snow conditions and the speed.

Mauricio: In our line of business, unseen risks can pop up all the time. In March 2020, while we were actively working on the removal of a sunken 600-foot-long ocean-going car carrier, laden with 4,200 vehicles, the Covid-19 pandemic struck the world. No one had considered the likelihood of such a risk. We had no idea how to deal with it, but there was no time to lose as we were working under a fixed price contract. The team quickly determined the only way forward was to identify the team members who were essential to the operation and develop a 'bullet-proof' isolation system to keep them away from the virus. A multi-tier 'bubble' system was successfully implemented within 10 days, and it worked! No one got sick during the 18-month-long operation.

How do you balance risk and reward in your decision-making?

Billy: When you are at this level of the sport there is always at least one person who will risk everything and get down to the finish. It’s a really fine balance, though – if you risk too much, you’ll ski out and crash and you won’t finish the race. But if you are being a bit more conservative, you’ll inevitably be slower.

Mauricio: As salvage professionals, we look at the potential reward first and then determine how risky the job will be. The key to achieving an acceptable balance will be to align the perception of the associated risks across the team members and, more importantly, the client. We tend to be greedy, thus happy to take on lots of well-managed risk!

What tools or methods do you use to minimise potential risks?

Billy: I try to collect as much data as possible across the training period, across the season and across the years. Each day there are lots of variables in ski racing. There might be a snow type, temperature, weather or course that you haven’t experienced before. So, when I talk about data, it’s your previous experiences in training and races, and where you’ve used a set-up, and you collect that for the future. It doesn’t always have to be down on a computer, although we do have video analysis and ski models that we use.

Mauricio: To minimise potential risks and their consequences, it is critical to first conduct an in-depth assessment of the task at hand. Whether it is a ship on fire, or a capsized barge, sizing-up the situation with the support of engineering analyses, computer modelling, reviewing similar operations, testing equipment beforehand, is a must. In addition, potential risks can also be minimised by incorporating the right contractual terms and conditions.

What lessons have you learned from a risk that did not go as planned?

Billy: The 2022 Olympics in Beijing was my first Olympic Games. I was leading through the split and doing really well. But then I risked my line a bit too much and I couldn’t make the next gate. I was in gold medal position, but that decision basically cost me everything. Going into these next Games, I’ll hopefully be able to use that experience to be in a better place.

Mauricio: To never underestimate and have multiple backup plans.

How do you ensure your team is aligned with your approach to risk?

Billy: It’s all about communication. When you’re racing, you’re by yourself, but there’s a lot more than just the actual race. You work very, very closely with the people around you. There’s the inspection of the course and there’s the day before when you’re preparing the equipment. For example, I communicate with my service man about how I want the skis prepared – how sharp and what angle set-up I’m going for – for each particular race.

Mauricio: By communicating transparently with team members and seeking their input.

What is the difference between taking risks and being reckless?

Billy: I started skiing at the age of two. I’ve been doing it for 26 years and it’s a skill I would say I’m pretty good at. There aren’t any points where I feel that I’m being reckless. It’s always a measured risk.

Mauricio: For salvage people, this could be construed as a 'fine line'. However, a risk taker will always assess and prepare, whilst a reckless person will just 'wing it' and typically end up in a mess.

How do you handle the pressure/stress related to risk-taking?

Billy: I’m an extremely competitive person in all areas of life – I just happen to find myself in ski racing. I really, really enjoy competing. I don’t necessarily see it as pressure because it’s what I want to do. Now, if you’re talking about pressure to deliver on the day, I think it’s just inevitable. The person who puts the most pressure on me is myself, because I know what I’m capable of. I’ve learned that there are always naysayers and the critics who have their opinion. But you quickly learn not to pay too much attention to those people.

Mauricio: By being proactive in managing expectations and by making sure we have assembled the right team for the job.

Billy Major is a member of the GB Snowsport World Cup squad and has achieved victories and podium finishes in the Europa Cup, and top-10s on the World Cup circuit. His first Olympic Games was in Beijing in 2022.

Billy Major

Alpine skier

Mauricio Garrido

President, T&T Salvage