Positive and Negative Risks in Project Management [Risk Response Strategies]

553 days ago via MladenAC    Discuss    Business
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 ...

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