4 Positive Response Strategies for Projects
Positive Response Strategies for Project as a concept addresses how to deal with risk scenarios that have a positive impact on the project.
Positive risks are risks that when taken, produce a positive project outcome. These can also be referred to as Opportunities. The Project Managers accept, retain and enhance the positive risks identified in a project.
Here are the positive response strategies for projects…
#1 RISK EXPLOITATION
These are often used when a project team wants to make sure that a positive risk is fully realised. This is often done by hiring the best experts in a particular field or ensuring that the right thing is being done.
#2 RISK SHARING
This entails partnering with another party in an effort to give your team the best chance of seizing the opportunity provided. Joint Ventures are a common example of risk sharing.
#3 RISK ENHANCEMENT
This attempts to increase the probability that an opportunity will occur. This is done by focusing on the trigger conditions of the opportunity and trying to optimize their chances for occurrence.
#4 RISK ACCEPTANCE
This involves accepting the risk and actively responding to it as ti comes, but not through pursuit.
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