Positive And Negative Risk

The first work to do in the planning process for a project is to answer the question: “What could go wrong? ”. It is undeniable that part of project management is risk management, and risk management is included in the process of earning PDUs. As a project manager, always keeps in your mind that risks are inevitable. The article below shares some ideas on the two types of risks in project management.

   1. Positive and negative risk, what are they?

In general, risks are defined as something, some uncertain events or circumstances that may leave several impacts on our project objectives in general, affecting both the efficiency and the success of our project. However, not all unexpected events or risks are negative, not to mention its negative connotation. Risk itself can bring a lot of benefits to a project. Positive risks may bring new changes to the project, having a positive impact on the project’s outcome and so on. On the other hand, negative risk poses a threat to the project, bring negative outcome and likely to result in the project’s failure. Further ideas on these two kinds of risk could be found on our 60PDUs bundle course. 

   2. Are there any ways to deal with both of them? 

The answer is yes, whether there is a positive or negative risk, there are several ways for risk management. 

Positive risk should not be ignored, other than that, the project manager, however, should make the most out of positive risk. By exploiting it, a project manager is raising the chance of obtaining more and more positive outcomes for his project. In case the risk is too high, sharing it with a third party can be a feasible solution, for a higher chance of boosting and achieving. Project manager could also enhance positive risk by investing in better resources.

Negative risk, however, could be avoided once it poses a dire threat to your project. Try reducing the threat as much as possible, such as extending the deadline, increasing the number of people in your team, and so on. One other way is to ask for help from a third party, they could be better at handling those negative one.  

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