When someone mentions risk, we often associate it with a dangerous
chance or hazard. But risks aren't necessarily negative! In fact, risk
represents a thin line between an opportunity and a threat or the
difference between loss and a prize.
Many would say that risk can either make or break your company, but
only if you're wise enough to recognize an opportunity. Successful
entrepreneurs know there are two sides to the coin, and each side
needs to be evaluated thoroughly.
When it comes to project management, there are many misconceptions
about positive and negative risks. Let's break down these terms and
explain their role in project management.
POSITIVE AND NEGATIVE RISKS IN PROJECT MANAGEMENT
To explain positive risk, we have to define the term risk. A risk is
any unexpected event that can affect your project, impacting
resources, technology, processes, and people.
So, what is a positive risk? It's any situation, occurrence, event, or
condition that offers a positive impact on an ...