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One time that I accepted a risk was political. I accepted it because I have an alternative option to reschedule the training.

Accepting risk, or risk acceptance, occurs when a business or individual acknowledges that the potential loss from a risk is not great enough to warrant spending money to avoid it. Also known as "risk retention," it is an aspect of risk management commonly found in the business or investment fields.

As a matter of semantics, all legitimate risks should be accepted as this does not preclude their being mitigated or avoided. We must accept the fact that risks being what they are, even if they have low likelihood or low impact based on our assessments, it would be beyond our control if something catastrophic happens regarding that risk. In which case, the course of action would be to accept - to continue monitoring that risk, and to adjust accordingly. The adjustments are ideally pre-planned based on contingencies.

Sometime ago, I had to take a risk as a school administrator by hiring more staff than we needed because there was an approved project from an NGO to take more vulnerable students from the streets for our system to absorb. At the beginning of the school year, qualified teachers are sorted and recruited, while others find their way into other school systems. This project was scheduled to start in the second quarter of the academic year, which make it difficult to recruit qualified teacher during that time. So I had to take the risk to do early recruitment

Once I accepted a risk was while I was leading a borehole rehabilitation project for populations where there was a risk of lack of total involvement of the populations in the maintenance of the boreholes. I accepted it because the score for this risk was low.

Am Chrisham

From Cameroon

Example response: One time that I accepted a risk was during a software development project. We identified a risk that there might be delays in obtaining necessary hardware components for the project. Despite the potential impact on project timelines, we decided to accept this risk.

We chose to accept the risk because the hardware components were critical for the project's success, and finding alternative sources or waiting for availability would have further delayed the project. We assessed the likelihood of the risk occurring and the potential consequences, and determined that the overall impact was manageable within the project's constraints.

Advice and feedback:

• It's important to clearly explain the rationale behind accepting the risk. In this response, the reason for accepting the risk was provided, which helps others understand the decision-making process.
• When discussing the decision to accept a risk, it can be helpful to mention any risk mitigation measures or contingency plans that were put in place to minimize the impact if the risk were to occur.
• Consider elaborating on the risk assessment process. How was the likelihood and impact of the risk evaluated? Did you involve relevant stakeholders or use specific techniques or tools?
• When providing feedback on peers' responses, you can acknowledge the valid reasons for accepting risks but also consider asking questions to further explore their decision-making process or suggesting alternative strategies for risk management.

Overall, the response provides a good starting point by sharing an example of accepting a risk and explaining the rationale behind it. It demonstrates the importance of evaluating risks within the context of the project's objectives and constraints.

One time I accepted a risk was during a project that required children to attend a training session, with children who could not walk to the session . I did it because all the children resided in the community, and the chances of it raining during the summer months were unlikely.

You accept a risk when you have no choice but to find an immediate solution. By way of example, I'll give the example of the project to improve the sexual and reproductive health of adolescent girls in rural areas. As part of this project, it was planned to open a specialised health centre to look after teenage girls. The project had been accepted, particularly for the counselling component, but the sessions were to take place outside the health centre. A solution was found for this risk. The fear is that this would contribute to teenage girls developing risky sexual behaviour if they knew that it was easy to obtain free care. We decided not to find a solution to this risk for fear that the leaders and the community would decide not to participate in the project. But that didn't stop us from monitoring this risk until the stakeholders changed their attitude.

Presidential electrons sometimes are difficult to mitigate it's impact, but it is the only way I think we can do to contain the situation. On the other hand, thorough planning of the workshops and timely sensitization about the workshops will help convey important information to the families beforehand so that they can consent easily by sending their young women to attend the meetings, I believe by doing this we can reduce the impact of this issue to perhaps 2 out of 5 rating system

I recall a time when I was involved in a project to streamline the distribution process for scientific equipment. It was a daunting task, fraught with potential complications and setbacks. However, the potential for increased efficiency and reduced costs was too compelling to ignore. Despite the uncertainties, I chose to accept the risk and forge ahead with the project. The result was a significant improvement in the distribution process, ultimately demonstrating the value of calculated risk-taking.

Accepting a risk is warranted when the costs for mitigation outweigh potential damage, the impact is minimal, and/or resource constraints are manageable. At my work, we once committed to a project with uncertain funding timing after signing a contract. Despite the risk, we proceeded because the deal was confirmed and funds were assured. Although we faced a two-month wait, the funds were eventually received.

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.

the right time to accept a risk is when the risk is not that serious. for instance, in every project we have a contingency plan that help us to cover for any uncertainty, so when this uncertainty occurs its easy to move forward with the project because the contingency ensures that the project should move according to the plan.

One time I accepted a risk when the project resources we had were not sufficient. I did so because the allotted time for delivery was limited, and any further delay would have hampered successful completion. We proceeded with the limited resources, relying on the possibility of later finding additional support. Fortunately, the remaining resources became available to us. We were conducting feasibility study and detailed engineering design for the upgrading of a certain road in the Northern Region of Malawi: Environmental and Social Impact Assessment (ESIA) and Resettlement Action Plan (ARAP).

One time I accepted a major risk at some project. The project was to deliver agricultural materials to the framers and the project site was near war front. I have followed my instincts; I knew for sure nothing would happen to me and there is nothing to do either I hand over the materials or withdraw.

Some risks are least priorable, that has no impact on project basically. So we accept some risks to avoid the risks.

There was a time when the project's scope expanded beyond its initial boundaries, leading to increased costs, time delays, and resource constraints it was a very tough time for me

One time a risk i accepted was diary production improvement collaborated project and shortage of budget becouse of delay in approval. I accept it becouse it was in the middle of the startup so try to mitigate by reducing the scale.

One time that I accepted risk was when I was creating a website for my barbers haircut booking and had to deal with codes not running through before the deadline which was June 1st. I accepted it because this was to come with complicated coding and having a one month deadline for the website to be released.

One time that i accepted a risk i thought i could handle it in future and it will be avoided but to no avail. At the end the risk was being monitored because it couldnt be avoided for that projects. Risks are like unforseen circumstamces that can be an obstacle if not addressed properly

@Esu2 said in Module 3 Discussion: Accepting Risks:

One time a risk i accepted was diary production improvement collaborated project and shortage of budget becouse of delay in approval. I accept it becouse it was in the middle of the startup so try to mitigate by reducing the scale.

i believe that sometimes mitigating can be a good option for risks

Sometimes it is too difficult in our country to identify the risks, because the risks can happen at a very brisk speed, but we need to be proactive for all these kind of risks to identify and mitigate it in a way that can decrease the likelihood of the risk.

The one time that I accepted a risk as a business owner and for fulling a contract. I was providing cleaning/trash out of bank owned foreclosure homes for a default management. I accepted it because it would prevent people from stealing thing out of the house, and limit the burglary/crime rate in the neighborhood, and it brought revenue into the business.

one time that I accepted a risk was the inaccessibility of some organizations directors for our meetings. I accepted it because it has a low impact on project objectives and is unlikely to occur and even if it occur we can have opportunity to for their higher officials and invite them.

One time i accepted risk was the Market Risk: i identified the risk of low patient demand for eye care services due to limited awareness or cultural beliefs. However, after conducting market research and considering the cost and effort required to increase awareness, it was to accept this risk. The team determined that the existing community outreach and education efforts, combined with word-of-mouth promotion, will gradually increase awareness and overcome initial barriers

I would accept the political risk of unrest during the presidential elections because it's unavoidable and can't be transferred but mitigation can be made. However the cost of the mitigation the mitigation is high compared while the probability of it occurring is low. Then mitigation can be done during the early stages of the unrest.

One risk I accepted during a project implementation was delay in disbursement of funds. I accepted it since the funds were already approved and will eventually be released. this in turn widen the scope of the project.

Accept risk but do not try to spend resources to avoid. That's the headline. This is because the we are dealing with probabilities here so when you try to use resources to avoid it, it may happen that the risk may not happen at all. But you can respond to it by mitigating at least

Hello Papet, my organization has also had to accept the risk of protests or nation-wide delays during an election. These events can have an impact on our ability to provide in-class trainings and data collection if schools are temporarily closed for safety reasons, or if there are certain strikes during the school year.

One time that I accepted a risk was when i hosted an activity and there was no participation. I accepted it because i had mobilized more people.

One time that we accepted a risk was during a software project where we were supposed to identified a potential delay due to a shortage of skilled and resources in a particular technology stack. Despite recognizing this risk early on, we decided to accept it rather than invest significant time and resources in training or hiring additional personnel.

Risks are inevitable in any project. It's best to always plan for this as they teach us how to solve unforeseen problems. Whatever mechanism put in place, we need be vigilant at the embryo of our projects. This will have us in the position to manage it where possible.

It is okay to accept risks when its potential outcomes have minimal insignificant impact project budget and time scheduled. I had to accept the delay of course materials for an English survey to a village by a day having known that the rains in the area normally occur at night and being an semi arid area the roads would have dried by daytime.

Risks that you have no control over. For example, I anticipate the risk of a change of government, though I am not assure. I just have to monitor the situation

I set a target for a project beneficiary, the risk I anticipate was low turnout. I was willing to accept it because the target itself was a flexible one (+/-) and the risk level also turned insignificant.

Accepting Risks involves acknowledging and understanding the potential negative outcomes or uncertainties associated with a particular action, decision, or situation, and consciously choosing to proceed despite those risks.
Even when risks are accepted, it doesn't mean they're ignored. In many cases, steps are taken to mitigate the impact or likelihood of negative outcomes. This might include implementing safety measures, contingency plans, or risk management strategies.
Once the decision is made to accept risks, it's important to continuously monitor the situation and review the decision as circumstances change. This ensures that risks remain acceptable and that appropriate actions are taken if new information or developments arise.

As conclusion, Accepting risks is often a balancing act between the potential benefits and drawbacks of a particular course of action. It requires careful consideration, weighing the potential rewards against the potential losses or harm

I'm living in haiti. Projects in my country are full of risks. Some places have more in one category than others. In the capital the security risks are higher than provinces. In some provinces accessibility to difficult zones are higher. in some period of the year the metheorology is difficult. adding to that We are living in permanent political turmoil.

One time that I accepted a risk was when there was a chance our project's physical marketing materials would not arrive in time for the project launch (4 days time) as it was within the delivery window (2-5 days). Usually things deliver on time from this company.

One time that I accepted a risk was when I accepted that the Spirituality meetings could be in another day in the community and not in a specific day that the community already have an activity. I accepted it because the activity is important to the community and have it already was planned for a long time. But doing in another day could be a risk because the community could not participate frequently.

It is okay to accept a risk when the conditions are imposed and cannot be influenced.

One time that I accepted a risk was when inflation rate became so high and cost of goods as much as doubled in price.
My organization had a project of giving out foodstuff to orphanages. Funding for such projects was fixed at a particular amount so I had to adjust the budget to what the available funds could accommodate.It meant that we would supply less foodstuff at about the same cost as previous projects but the project was still carried out.

Smart move!

Spcietal events are likely to affect the workshop if they are security related.

Accepting a risk can be appropriate when the potential negative impact is deemed acceptable compared to the cost and effort required to mitigate it. For example, in a construction project, the risk of minor delays due to inclement weather might be accepted if the cost of implementing measures to prevent these delays outweighs the potential losses incurred from the delays themselves. Similarly, in software development, the risk of minor bugs in a non-critical feature might be accepted if the resources needed to completely eliminate those bugs would be better allocated elsewhere.

I remember a project where we identified the risk of a key team member potentially leaving the project midway due to personal reasons. While we had contingency plans in place to minimize the impact, such as cross-training team members, recruiting backups, and documenting critical processes, we ultimately chose to accept this risk. The reasoning behind this decision was that the likelihood of the team member leaving abruptly was relatively low, and the cost of implementing additional measures to mitigate this risk further was deemed disproportionate to the potential impact of their departure. Instead, we opted to closely monitor the situation and address any issues promptly if they arose.