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I have accepted risks of scheduling delays, on many projects, when I am confident that the end date will be pushed out by another party. Unfortunately the accepted risks that end up not happening, are easily forgotten

My thought on accepting the risk is when i had requested for funds to do a familiarisation tour, the request was approved and authorised, but because we are a grant aided institution, such funds can only be released when the grant is received from the ministry. In that case i had to choose to wait and monitor.

Its okay to accept a risk when it will not dramatically affect core business? An example was continuing to run an outdoor fundraising campaign in spite of poor weather conditions. We did this because cancelling or postponing the event would have had a negative effect on our reputation.

I have accepted so many risk and the results were good but there is one that I probably still learn from it. I accepted to dispatch some outfits to a client because he had paid 90% and promised to clear the 10% balance once the goods been received. one year down the line I have never heard from him.

The way I understand it, we only accept the risk if there is little impact to the project implementation and there is low likelihood that it will happen. We always had problems with the procurement of the items that we need for our advocacy projects. Although we always anticipate the delays, there are times when a supposedly one month processing stretches to three months. Luckily, these items (although important), can be distributed to our partners and beneficiaries even at a much later time. so we just needed to follow through with our organization's procurement team every now and then so we can adjust with our timelines.

a dam have filled in its volume and then on the verge of make flood to a town so may identify that the may come if rain falls more.
this is the risk that can be identified well as i understood the topic
thanks.

One time that I accepted a risk was starting a medical campaing in rural area without medical supply. I accepted it because the supplier was late on delivery of medical supply. then, we did many other activities while waiting for that medical supply

I have learnt that some of risk mitigation factors affects the sustainability of project post implementation. For example, for a project that targets adolescent girls and young women, one would like to mitigate the risk of " beneficiaries may not be interested to attend weekly training sessions " by providing snacks (food during training).
Post project, if beneficiaries still have to meet frequently, they may not continue with meetings because there will be no food provision and it is even worse for other projects that may be implemented in that area without budget for food snacks for beneficiaries - they may experience poor registration and / or attendance

Am learning exciting new things.

we should accept the risk if to mitigate it cost much, more than the project could afford, or there is nothing we can do because it is an external factor that we cant interfere

Risk Management is key for managing Project. We should always envisage for risk even when we think there is nor.

One key tool for accepting risks is risk tolerance. Risk tolerance refers to the level of risk that an individual or organization is willing to accept in pursuit of their goals or objectives. It involves assessing the potential consequences of a risk and determining whether they are acceptable or not.

An example of risk tha you accept is a socio-economic risk. For example: civil unrest/protest as a result of change in government policies. Terrorist attacks, elections (in nigeria any kind of election usually ends up in nation wide violence)

I would like to share my experience in accepting a risk: I planned to co-ordinate a workshop for the staff. All kinds of planning were done well in advance. Last minute, the resource person who had to handle class in workshop, could not make it possible. I could not spend any resources and alternatives at the last moment, at the same time - I could not stop the workshop. In this situation I decided to conduct session on my one. I accepted the situation and did not allow the affect the project. Why I decided to handle it on my, If I have to hire external new resource person - I have to pay more for which I do not have enough resources.

Of course, sometimes a few risks are not in our hand. We might find difficult to handle the risk. Ex: Cost, political influence, weather, natural calamity, health issues. We have to accept and wait for it resolve on its own..

Its the real fact for the some cases. We may not avoid and have to agree risks that would not affect the project much.

The decision to accept a risk should be based on a careful consideration of all relevant factors, including the potential impact, likelihood, cost, and available risk management options.

il est acceptable d'accepter un risque lorsqu'il est peu probable qu'il se produise et que les conséquences de sa réalisation sont minimes.

merci pour vos expériences

One risk I have accepted in the past was the driver running late to pick me to purchase supplies for an event, because of traffic. The day I planned to shop was a week before the event so I had time, I accepted the risk because it was low to me and even if the driver doesn't make it on time, I can go shop the next day.

the risk we accepted in the project is the access to beneficiaries in a complicated context , we kept monitoring the situation while doing the work . Once the situation change and there become a threat of reaching the beneficiaries we will stop temporary and think on mitigations .

During the construction of a well in a village, we identified a meteorological risk (heavy rainfall). We chose to proceed because in this area, it rains for 9 months out of the year, and our human resources were only available during that period.

I agree with this

As a project manager, I once faced the risk of market volatility for a new product launch. Although there was a possibility of decreased sales due to uncertain market conditions, my team and I decided to accept the risk. We believed that the potential rewards, such as gaining a competitive advantage and entering a growing market, outweighed the potential losses.

We carefully evaluated the market landscape, conducted market research, and analyzed the potential impact of market fluctuations on our project. We also considered the cost and feasibility of mitigation measures. After weighing the pros and cons, we concluded that accepting the risk aligned with our organization's growth strategy and objectives.

I accept a risk when my project funding was delayed because could start the the project activities, writing report on scheduled time based
on term& condition of funder.

I accept the risk when my project funding was delayed because I didn't start the project activities, writing project reports on scheduled time based on term & condition of funding regulations.

FOR ME I THINK IT IS OKAY TO ACCEPT A RISK WHEN IT HAS A LOT OF DISADVANTAGES TO THE PROJECT'S PROGRESSIION THE ONES ON THE CRITICAL PATH

one day i accepted the risk of traveling without an umbrella because it has been long since it rained

Risks are always present in any project. Even with Proper planning
Every projects must have a contingency Plan.

I once had to accept the risk of occurrence of political protests happening during a scheduled training week. However, since the training schedule had a tolerance delay period of an extra week, i was able to avoid this by administering the training the week after.

most of the times even in our daily life we encounter risks but the impact of the risk is low or perhaps it wont go to happen in high percentage so we just see it as a risk and just keep a close eye on it.

identificar los riesgos es lo más importante porque estamos conscientes de su existencia y podemos generar estrategias para atenderlos.

In 2020/2021 we identified the risk of covid-19 pandemic but we mitigated it by staying and working from home and most of the meeting were via social media e.g zoom
Thank you.

I was recently a part of a high risk decision at our organization. There was a decision to be made in how the organization should move forward in light of corporate change. The risk to respond in a way that would involve separation from the bigger entity or to continue as usual would potentially cause dissatisfaction and cause people to abandon ship. We ultimately decided to continue as usual and we lost some loyal members.

Sometimes, it rains torrentially, roads are under water, traffic problems grow. Therefore, some people stay at home and other cannot reach their respective destinations on the time. In fact, we can not prevent it, but accept and wait.

One time that I accepted a risk was when I was collecting data in an unsecured area . I accepted it because I didn't want to compromise my sampling selection plan. however I mitigate situation by dividing my team into two and I was able to safe half of the time in that area.

I would advise that you plan ahead so that you can still have the workshop in the after month of the election

One time that I accepted a risk was when a team member fell sick. I accepted it because I could fill in the vacuum of the team member on a part time basis and I didn't want it to accept our project timeline.

@vagafufagu41 said in Module 3 Discussion: Accepting Risks:

One time I accepted a risk on a project was funding delay. I accepted it because the funds were already approved and will eventually be released.

That was a good one.

Accepting a risk and knowing how to response to the risk

It is always best to prepare for a risk in the course of the project's progression. Every element that poses as a threat to the project, should always be closely monitored, regardless of either a higher risk coding nor a lower risk coding. Therefore, the emergence of the risk should be accepted but there should be a preparation been made prior to its occurrence.

I have always tried avoiding risk in the course of this project I have been engaged in because taking any risk will affect the funding and it will be a rigorous process convincing the donors to increase funding and it will slow the pace of the project.

In a wetland restoration project, the risk of encountering soil contamination was accepted due to budget constraints, time sensitivity, and community benefits. Risk assessment and periodic monitoring were employed to manage the risk effectively, allowing the project to proceed successfully without major setbacks.

one time I accepted risk was the weather forecast, I accepted it because it cannot be controlled. we just made necessary plans to control as much damage as we can should it Rain.

This was well accessed. well done

seeing an event ina a time of event or programme implementation my be difficult to resolve , therefore we need to find a quick solution to the problem, which may sometimes cause another problem while we say we are trying to mitigate the 1 at hand

i once accepted risk during covid 19 outbreak,in my school parents had not paid fees but the government declared all school closure..even though i incured loss i had to accept

I have learnt the process of dealing with risks.First and foremost you can mitigate, reducing impact of the risk.Secondly you can accept and therfore monitor the risk.Thirdly you can transfer the risk to athird party like insurance.Finally you can prevent a risk and avoid it completely.?

One time I accepted a risk was when a resource person told us just on the eve of the training that he would not be present for his session. He promised to send another person whose competence to deliver, we could not ascertain. We either take the alternative with the baggage he would come with all miss that session.

La seule fois ou j'ai accepté un risque c'est parce qu'il était extérieur au projet et réalités de la zone d'intervention nous étaient favorables pour continuer le projet. Mais il nous est arrivé d'atténuer un risque dans un projet d'étude d'impact de foyers améliorés en milieu rural. Toutes les bénéficiaires n'avaient pas pu recevoir leurs foyers à temps, cela a créé une perturbation dans la poursuite de l'étude. Mais nous avions su le gérer et mener à bout notre étude.

Risk are practically inevitable in our every day dealings,work,project and so forth. What matters is the ability to recognise and identify those risks,weigh the likelihood and impacts and draw out modalities to effectively response to or mitigate those risks. In fact,we are not in a position to reject some of these risks because they are not in our hands,we can only mitigate/reduce their impacts when they eventually occured.

I accepted a risk of being victimised when I was in my undergraduate by speaking out against a discriminatory policy of the department at the time which would have made a greater number of the students to miss their final exam but I spoke out and mobilised for a protest because I felt this action would force the authority to rescind their decision and it worked.

When I was in college, I had the opportunity to study abroad in a country that was not considered to be very safe. I knew that there was a risk of being robbed or assaulted, but I also knew that this was a unique opportunity that I might never have again. After careful consideration, I decided to accept the risk and study abroad. I had an amazing experience, and I am glad that I did not let the fear of risk prevent me from taking advantage of this opportunity

One time that I accepted a risk in a Project Structured for unemployed youths in the Church was because I wanted to learn how to resolve problems. However, it wasn't an easy task proffering solutions to these risks encountered but it was worthwhile engaging in them.

A manager accepts a risk when has no control over the situation, but should constantly and closely monitor it to reduce its impact on the project or business

In one of my consultancy projects, I made the decision to accept the risk of not being able to secure enough interviews with large-size enterprises. These entities are often challenging to reach in significant numbers within a short timeframe, and it was a risk I was well aware of. However, I opted to accept this risk because, upon thorough assessment, I determined that while the likelihood of encountering this issue was relatively high, its potential impact on the overall project success was relatively low. Moreover, we had effective risk mitigation strategies in place. Instead of relying solely on random sampling, we were prepared to leverage existing contacts and implement a purposive sampling instead of the original plan with random sampling, which would have allowed us to maintain the project's integrity even in the face of limited access to certain participants.

the identification and evaluation of risks makes it possible to classify them in order to anticipate their occurrence. solutions have already been considered in order to reduce the impacts of risks on the implementation of the project

Your decision to accept the risk in the project involving children attending a training session is understandable given the circumstances. It's important to consider community-specific factors and practicality when making risk decisions. Here are a few points to consider:

Risk Assessment: While you accepted the risk based on the unlikelihood of rain during the summer months, it's essential to have conducted a thorough risk assessment. Consider factors like historical weather patterns, alternative transportation options, and the impact of potential rain on the training session.

Contingency Planning: Even when accepting a risk, it's prudent to have a contingency plan in place. For example, you might have considered a backup indoor venue or a transportation arrangement for children who couldn't walk in case of unexpected rain.

Communication: Ensure clear communication with stakeholders, including parents or guardians of the children, about the potential risk and your decision. Providing them with information and options can help manage expectations.

Documentation: Document your risk assessment and the reasons for accepting the risk. This documentation can serve as evidence of a well-considered decision if any issues arise later.

Monitoring: Continuously monitor the situation and be prepared to adjust your approach if circumstances change. If there's an unexpected weather event, having a plan in place can help you respond effectively.

Overall, your decision to accept the risk seems reasonable given the information you had at the time. Still, it's essential to balance risk acceptance with prudent planning and clear communication to ensure the project's success and safety of all involved parties.

Accepting a risk can be a reasonable decision in various situations. Here are some scenarios when it's okay to accept a risk, along with an example:

1. Low Impact, Low Likelihood: If the risk has a low probability of occurring and would have minimal impact on the project's objectives or outcomes, it may be acceptable to accept it. For instance, in a software development project, there might be a low likelihood of a minor bug occurring that doesn't significantly affect the end-users.
2. Resource Constraints: When you have limited resources, such as time, budget, or manpower, and the cost of risk mitigation exceeds the potential impact of the risk, accepting the risk can be a pragmatic choice. For example, in a construction project with a tight budget, you might accept the risk of minor delays due to weather conditions rather than investing heavily in weatherproofing measures.
3. Strategic Decision: In some cases, organizations deliberately accept certain risks as part of their strategic objectives. For instance, a tech startup might accept the risk of launching a minimum viable product with known limitations to be the first to market and gather user feedback quickly, even though there's a risk of initial product dissatisfaction.
4. Risk Transfer: Sometimes, you can shift the risk to another party through contracts or insurance. This is a form of risk acceptance where you acknowledge the risk but transfer the responsibility for managing it. For instance, in a construction project, you might accept the risk of equipment breakdown by having a maintenance contract with the equipment supplier.
5. Market Volatility: In industries influenced by market fluctuations, like finance or commodities trading, it's common to accept some degree of financial risk as part of the business model. Traders often accept market risks, and their strategy is designed to manage and profit from them.
6. Limited Control: If you have little or no control over a particular risk, you might accept it and focus on developing contingency plans. For example, in a project heavily reliant on a third-party vendor, you might accept the risk of vendor-related delays but have a backup vendor in mind as a contingency.
   In my experience, I've encountered situations where we accepted certain risks due to resource constraints. For instance, in an agriculture development project with a tight budget and a fixed deadline, we identified the risk of potential scope creep as we engaged with the donor. However, due to limited resources and the urgency of the project, we decided to accept this risk but implemented a robust change control process to manage and document any scope changes that did occur. This allowed us to maintain project momentum while still addressing changes as they arose.

It's commendable that you took on the challenge to learn problem-solving through managing risks. Reflecting on these experiences and lessons learned will likely benefit your future projects. Keep up the determination to grow your skills!

Thanks to all for sharing project risks in your own way from your experience. I learned a lot.

one time i was organizing a project on keeping the environment clean, i had to keep in mind that rain could fall at anytime despite we were not in the raining season. And because that project must go on i had to accept that risk and monitor the weather climate weeks before the project.

I think the biggest risk for our program has been leaving for a professional career before graduation. there is not much that we can do to avoid this and really have to just take it case by case and respect the students career decisions.

yes.
Accepting risk occurs when a business acknowledges that the potential loss from a risk is not great enough to warrant spending money to avoid it.

One day we accepted the risk of participating in the Global giving Foundation Fundraiser, the risk seemed big; since we were not sure if the money would come after one month as was the rule, but the outcome was so attractive so we decided to accept and mobilize people to support us through the platform, It came as was promised and from then Global Giving has been our major source of income to date because of the single risk that we accepted.

One time I accepted a risk on a project was developing digital government reports delay. I accepted it because there are so many obstacles behind that and finally others did it instead of me.

I think risks that you can easily take care of should be more readily accepted

Accepting risks with low risk level is OK by me because it even it happens, it will not completely shut down the project. And with such risk, the delay can easily be monitored and controlled.

In my project, we have a director who has been highly supportive of its implementation. However, there is a potential challenge on the horizon as the current director is scheduled to go on retreat soon. This could potentially lead to delays or issues, and in a worst-case scenario, it might even result in the project's cancellation.

The incoming director may have a different perspective or prioritize other projects over ours. Despite these risks, I've accepted this situation because there aren't any viable alternatives at the moment. During the current director's tenure, I've worked hard to build strong alliances across various departments. If the new director does decide to make changes, they may encounter significant resistance from the allies I've cultivated, which could influence their decision regarding the project's fate.

Iam impressed with how the team lined up the risks and how each risk was responded to accordingly .I feel this is something iam going to share with my team it will definitely help us with managing our projects risks successfully.

One of our donors delayed disbursing funds by almost a month. I had to accept the risk because all the due diligence procedures had already been done including approvals of the funds so it was just a matter of prioritizing doing other tasks which did not have a bearing on the not-yet-disbursed funds.

But regardless that you've made alliances and good relations with your colleagues which could lead to resistance to the new Director's decisions, don't you also think there's need to look at it another way? For instance, in the event that the new Director decides to act against some of your project's deliverables, having to sit down with the new Director and identifying some of the pros which could lead to your project's success, possible efficiencies and effectiveness that your project will offer against the available resources so that at least s/he considers these before making any decision?

Identify a risk is important but more important following up is critical

No risk no reward, like mentioned by someone " when we accept risks we are consious to monitor them and ensure effective consious solutions are applied "

It's ok to accept a risk only when we can afford to bear its costs as it won't influence much our plan, our budget and our scope. An example for this could be when a few participants chose to drop out from their committed programme, it's a loss to the project management, however the project could still continue with the rest of the participants so it was ok for us to just accept this.

Human Resources risk that most appeared in my organization, sometimes we accepted if they are doing some controversial movement, but we also always monitoring this risks if the movements have a big impact to the project.

Accepting risk can take different financial and organizational forms, such as continuously creating a financial reserve, using captives, or accumulating financial resources in special accounts. In insurance companies, accepting risk can also include deductibles and underinsurance, as well as aggregate deductible plans.

This is a very important course

One of the risks I identified was around the donor's law and regulation on not facilitating goverment officials to participate in activities. I had to accept it because I had no control over it much as it would greatly affect project implementation in the district. I had to monitor the situation of which indeed affected implementation but results were at the end achieved though not 10o%.

One time that I accepted a risk was when we rolled out a new software without doing post production testing I accepted it because we had done UAT testing and no defects were identified in UAT.

One time that I accepted a risk was unavoidable, but it was a high risk. I accepted it because we were all in COVID. I have just started the Uber business purchased 4 cars, now I had to ground the four cars, but the bank expected the repayments to continue, and I was not able to meet my financial obligations due to this unforeseen risk. I eventually sold all the cars and used all my savings to pay the amount outstanding to the bank, closed the business

Indeed some risks cannot even be shifted, for instance there was no insurance against business due to COVID, it was either you sink or swim, furthermore in my country community protest due to poor service delivery, however their modus operandi is to block national roads and burn cars, insurances now have come on board to cover vehicles damaged during protests as it is so unpredictable

Indeed i agree with you, if we ca be able to absorb the risk without further damage, some low level risks we just have to accept them and just continously monitor

Yes, I did notice a risk that i identified a bit later. I was to distribute agricultural inputs to 2000 beneficiaries. we later realize that the vendor hired by donor to bring input to distribution site had substandard vehicles that were being broken on road. My advice is that while listing risk, all team on the project must be consulted to avoid any risk to be left out.

"Accepting risks" in a project or organizational context refers to the deliberate decision to acknowledge and tolerate certain uncertainties or potential negative events without taking active measures to avoid or mitigate them. This approach is often taken when the potential benefits of accepting the risks outweigh the potential negative impacts, or when the risks are considered manageable within the overall risk tolerance of the project or organization

accept the risk: because the time was late its better to accept it and monitor the risk

acceptance of the risk is good because will be able to monitor it to avoid further occurances.

One time that I accepted a risk was unavoidable, but it was a high risk. I accepted it because we were all in COVID. I have just started the Uber business purchased 4 cars, now I had to ground the four cars, but the bank expected the repayments to continue, and I was not able to meet my financial obligations due to this unforeseen risk. I eventually sold all the cars and used all my savings to pay the amount outstanding to the bank, closed the business

One time that I accepted a risk was unavoidable, but it was a high risk. I accepted it because we were all in COVID. I have just started the Uber business purchased 4 cars, now I had to ground the four cars, but the bank expected the repayments to continue, and I was not able to meet my financial obligations due to this unforeseen risk. I eventually sold all the cars and used all my savings to pay the amount outstanding to the bank, closed the business

One time I accepted a risk was when we were going to have skewed regional representation for case study participation. We monitored the situation by implementing the protocol that was designed to have total enumeration sampling.

@vagafufagu41 said in Module 3 Discussion: Accepting Risks:

One time I accepted a risk on a project was funding delay. I accepted it because the funds were already approved and will eventually be released.

Definitely the funds would have been disbursed. I relate well with this, as a team in the project we were rolling out, we had to accept the fund's delay risk but later they were disbursed and the project continued smoothly. It was a good move.

One time we accepted a risk was a funds delay risk. There was a delay in disbursing the funds for the project we were rolling out. We accepted the risk and chose to monitor it. The funds were later disbursed and the project went on smoothly.

Accepting risks is a strategic decision made when the potential benefits outweigh the potential negative impacts or when mitigation efforts are deemed impractical or cost-prohibitive. Here are some scenarios where accepting risks might be justifiable:

Strategic Opportunities: When taking a calculated risk presents a significant strategic opportunity for growth or innovation. For example, launching a new product with some uncertainties about market reception but with the potential for substantial market penetration.

Time Constraints: In situations where there's limited time available to implement risk mitigation measures, accepting certain risks might be necessary to meet project deadlines. For instance, proceeding with a project launch despite identified operational risks due to time constraints.

Cost-Benefit Analysis: When the cost of mitigating a risk exceeds the potential impact of the risk itself. For instance, investing in additional security measures to mitigate a low-probability security threat that might have a minimal impact on the project.

Industry Norms: In some industries or contexts, certain risks might be inherent or acceptable within standard practices. For instance, financial investments often carry inherent market risks that investors accept as part of the investment landscape.

As for examples of identified risks that were chosen to be accepted:

Software Release with Known Minor Bugs: In software development, when facing tight deadlines, teams might accept the risk of releasing software with minor bugs that are not critical to the core functionality, opting to fix them in subsequent updates.

Market Uncertainty in Product Launch: A company might decide to launch a new product despite uncertainties about market demand, acknowledging the risk but believing in the product's potential success based on market research and initial feedback.

Operational Dependencies: Businesses might accept the risk of operational dependencies on single suppliers or vendors due to limited alternatives or high switching costs, recognizing the risk but continuing operations due to other strategic benefits.

Accepting risks is a strategic choice that requires a careful assessment of potential consequences, weighing them against potential gains or mitigation costs. It's crucial to document and communicate these decisions within the organization to ensure transparency and informed decision-making.

I accepted a risk when I participated on project implementation without getting advance payment from client, becuase on that time we cannot provide others outcomes from different sources, so we are faced to use our internal funds and accelerate the work to minmize that periode

One time I accepted a risk was when I transported my parcel through a non-licensed courier, I accepted because I knew the person but I still monitored its movement until it reached its destination

One time that I accepted a risk was when we could not put safety railing on the third-floor balcony. I accepted it because it is a historical building, and policy determines that you cannot make such modification.

Could you potentially ask for a deposit so that not all of the cost comes from you?

One time, due to push from upper management, I accepted the risk of hiring a new consultant who was not part of the original project proponent team. I decided to spend my energy making the project work with this consultant rather than fighting management to the delay of project start.

One time I accepted a risk, due to push of upper management, to hire a new consultant who was not part of the project proponent team. I accepted the risk because I wanted to spend more time making the project work with the new consultant rather than delaying the start by fighting with the decision.

Our Organization Accepts risks when the cost Implications related to Mitigating the Risk are too Expensive Or Difficult to deal with.In most cases we do a Cost Benefit Analysis Associated with the risk and when the Cost Outweighs the Benefit we result in doing nothing about the risk or in other words accepting the risk .

One time that I accepted a risk was during a project to provide clean water and shelter to IDPs in Rakhine State. We had identified a potential risk of security threats due to the ongoing conflict in the area. However, after careful consideration and consultation with our team, we decided to move forward with the project.

We chose to accept the risk because the need for clean water and shelter for the IDPs was urgent and critical. The conflict had already caused immense suffering to the displaced population, and we could not delay the project any further. We also had a comprehensive security plan in place, including regular communication with local authorities and implementing strict safety protocols for our team.

In the end, the project was a success, and we were able to provide much-needed assistance to the IDPs. Looking back, I believe that accepting the risk was the right decision. We were able to mitigate the potential threats and the impact of our work was far greater than the risk we took.

My advice to others facing a similar situation would be to carefully weigh the potential consequences of the risk against the potential benefits. It is also important to have a solid plan in place to mitigate the risk and constantly monitor the situation to reassess if necessary. Ultimately, the decision to accept a risk should be made with the best interest of those in need in mind.