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@AbubakarAlhassan ,thank you for sharing your point of view.
some one can accept a risk when it has low impact and also when it doesn't have any other alternative or when it needed very high costs.
@mohamedseed443 ,thank you for your answer.
@Wiza_ ,you're very welcome...
In my humble opinion, there are risks in everything we can do but the main thing is to prevent it. When designing a project, defining the risks you will be undertaking is ideal. And when there is a risk, you have to know how to assume it and continue.
A really impeccable and brilliant course which puts me in my knowledge and experience bath. I am proud to really feature in this platform because being, I have acquired an untold knowledge in the field of project management. I would like to thank Philantropy University for sharing and for the desire to share this knowledge with us.
i accept risks during my building of house last year 2019 in my home town, Zaria because i did not engage any expert or make a consultation to be properly guided in starting the building and end-transition of the project. i later discover that i build the house were is flooding during raining session. How i manage the situation and completely prevented from the water damage is by open culvert and proper fling sand to control the water passage through consultation with expert
@Simba1 ,thanks for your brilliant answer.
@Simba1 ,wow.Your satisfaction is our joy.Thank you for seeing great value in what you're learning from this course.
@AbubakarAlhassan ,thank you for sharing with us about project risk basing on your personal experience with it.
One time I accepted a risk was when one of the facilator arrived later . I accepted it because it was easy to make adjustment, on time of the workshop.
@fvjl2983 ,it is a relief that you could make a just few adjustments to your workshop.Thank you for sharing your response with us.
The project we am doing now is facing a risk of delay of supplies. we foresaw this but since its beyond our control, we have accepted the risk but closely monitoring
@ALLYNA ,with your situation,close monitoring is a great idea.
One time that I accepted a risk was to complete my last working day of my project. Unfortunately that day was announced as strike by opposition political party. I accepted it because I have to complete that project on that very same day. I discussed this matter with our local political friends to support us. I offer some gifts to them. On account of that I can finish my assigned work on that day.
@shinukjoy,thank you for sharing with us about your personal experience with project risk.What matters the most is that you improvised and found a solution to the difficult situation you were facing.
Every project comes with peculiar risks, which are sometimes usually visible at planning phase. Based on my experience, saying you won't handle them is saying you don't want to take on the project. However, based on the level of an organization, that organization can decide on what she is prepared and ready to handle. This will mean planning according to her capacity, which will accompany the ability to take on risks at that level. So, it's valid to admit projects you can't take on just yet since you must deal with all the components and actors of any project undertaken.
@leadoutirene ,thanks for sharing your point of view on project risk.
political risks actually rank among the top most risks which influence the operations of projects
in fact, the best way to choose how to respond to a risk is to use elimination method, where the most unlikely responses are discarded and the best among the remaining ones is selected...
another way of handling the delay of funds is to use those resources you would have saved from line costs
risks also help identify areas in which a project implementer may need to improve upon for future projects
how much room does also considering assumptions under risk management hold?
risk management is very important so that all project constraints; schedule, budget and scope are well managed
between the likelihood and the impact of a risk, which one must be carefully monitored, even if the risk value is what is used for the choice of the response to an identified risk?
Risk identification, assessment, response and monitoring are vital processes that deserves special attention.
In my organization, we are working in insecurty areas with armed group. We decided to accept it because we didn't have another solution.
@Josimp ,I agree with your point of view.Political instability negatively affects the progress & direction of any project.
@Josimp ,thanks for your answer.I am also commending you for actively participating in our course discussion forum.
@SeydouDoumbia ,thanks for sharing your own experience with project risk.
@Alameenbichi ,I totally agree with you.
identifying the risks of the project is very important on project implementation. so it the crucial part of project to analyze the risks.
thank you.
To me, as a project manager analyst, taking risk is part of project management. These risks are the challenges, unexpected occurrences and strange phenomena that often characterize project management.
So having forseen certain challenges, a project manager should be able to address these issues with boldness and not timidity. Systematically applying different precautions will let no challenges to have a negative effect on the success of the project but rather a positive one.
A good instance is during the time of the coronavirus pandemic. As a project manager to spearhead a particular project (empowerment of women on fishry as a source of income) in the pre-Covid era, how will you succeed in this having caught up will the pandemic?
I don't think you need to wait till Post-Covid era for you to know what precautions to take. All that you need to do is to weigh the challenges and address them to fit in the present situation.
In the instances when risks have to be accepted mostly they come in compulsory situations. key worker might want to work in different projects that afford to pay higher, there may be shortages in resource supply in the market, and so on.
It all depends on the versatility of the plan itself to accommodate any humps along the course of the undertaking.
A well thought plan allows some degree of discrepancies.
@Kabul ,thanks for your thoughtful answer.
@SintayehuGetachew2020 ,thanks for sharing these brilliant statements with us.
@Sir_Johnson_De_Great ,thanks for sharing your insightful point of view with us.
For us living in Nigeria, risks are part of our daily lives. We accept them whether knowinly or otherwise. While enrolling in a university in Nigeria, it is important you note that strikes are part of the system. For instance, the universities in Nigeria have been on strike for over eight months now. Many students were already writing their exams while other were preparing to start, but the strike came and we have accepted it.
That is the point Sir.
This I love its perfect
Alright @DCUN ..
Alright @pomboloka ..
One time that I accepted a risk was when I have delay on project funding; I have to accept because I new it has been approved already.
@msuwaneh55 ,thanks for sharing your experience with project risk.
Exactly! You are on point.
Alright @Sir_Johnson_De_Great ....
Even when you are mitigating a risk, there is often still an element of acceptance. Eg. One time I mitigated a risk at the end of a project by providing comprehensive handover notes, sharing my contact information, and following up. But I still had to accept the risk that the project would not be continued. I accepted the risk because I had used all the limited resources I had available to me already.
@hollycoulter ,thanks for expressing your point of view on project risk.
Once I accepted a risk, it was the heavy rains that slowed the distribution of the measles vaccine. we have agreed to rent the canoes because without his vaccines the human damage would have been more serious.
@jtshibangu23 ,weather changes can negatively affect the trajectory and progress of any project.I love the fact that you found a solution for the risk that you had at hand.
I like the fact that some risks are too big to be avoided rather mitigated
@DAVID-JR2082 ,thanks for expressing your point of view on project risk.
many times in life we face risks without even noticing it, e.g hunger to some extent it is something that can be prevented by proper planning stocking of food despite the fact that others are less privileged . they is what we call value products if one can not afford to buy premium brands they can go with basic products...
One time that I accepted a risk was high air temperature when storing fruits. I accepted it because I have good refrigerators .
Accepting risks require keen attention, other than that it may go of hand and even worsen situation.
When does one accept risks? this an important question right? The overall risks potential of the risk(s) to be accepted must be far less the probability of creating any alarming situation that might be difficult to justify.
Before categorizing any potential risk being identified into accept, be sure to vet each properly. don't assume!
@sylvestrees1992 ,you're so right about this.
@sylvestrees1992 ,thanks for expressing your point of view.
@sylvestrees1992 ,I agree with you.
All risks identified must first be well assessed and try to response in every way possible.
If the risk can not be handled in anyway or form, then you can now accept the risk(s).
Last year May ending we were offered a construction project in a remote location with very bad roads. The supply and distribution of material was the greatest challenge.
We could have mitigated this risk but we choose to ignore it.
At the end the roads got very bad that we loss some materials and the project delayed for over a month.
At the end we left our pick-ups there till the dry season, because they could not
be driven on the bad muddy roads.
I think one should have some planned action for any risks and keep ressessing
them till the end of the project. After all you must document them as lessons learned.
@anyuma200 ,thanks for expressing your point of view on project risk.
I believe its okay to accept the risk at the beginning of the project because in doing that you will have more time to monitor and try to figure out some solutions along the way
August 4, 2020 an enormous explosion hit the heart of our capital resulting in a 200 death toll and 4000 injured. Local and international NGO's were immediately mobilized in response to the disaster to help 22,000 families whose houses got completely or partially destroyed, leaving them without a roof. Some of the affected families were temporarily displaced while others stayed put in place despite the rubbles and glass debris, either because they had no place to move to, or to protect the few belongings left, from burglary. Local and international ngo's had to mobilize all their resources in response to the disaster. Most of them raised significant financial and logistic aids from local and international donors .. All ngo's had to hand in deliverables in time before the rainy season starts, mid October in our part of the world . One unpredicted obstacle was a rise in COVID 19 cases necessitating a total lockdown within a weak. Thankfully, a call for additional help in terms of human resources, incited more volunteers to join in and help out. Thankfully ,donors extended their scope and deliverables, and yet, human resources were the best option to deliver some of the restored houses in time before the rainy season.
@PreciousUniqMtambo ,I totally agree with you..
@Afaf-zeinoun62 ,thank you for sharing your point of view with us.
We accept risks sometimes because pouring more resources in trying to avoid the risk will be more expensive than just accepting it and strongly monitor that risk.
@vmaramba45 ,thanks for expressing your point of view.
Once we are working with the legal management system of Education Department but we were not identified the risk comes from the "Legal Department". And due to this our whole project was rejected by Legal Department and we were almost done our Design Phase. Risk management is very important in Project Management.
@AdarshSingh ,thanks for sharing your point of view on project risk.I now see the importance of including a legal advisor at the planning phase of any project.
Once we decided to accept the risk of delay in the delivery of agricultural PO inputs given the state of rural roads, because the amount of the project does not allow to intervene on this type of risk.
Changes on the law or regulations. It is many unexpected that even when you see trend you can never control it unless its ongoing and participatory change that you can understand the impact of it on your project and society.
I can relate to this. I noticed that most of my handing-over notes are implemented but for my most recent one about continuing with an online course I had initiated and implemented for the first cycle did not take place simply because no staff was ready (or confident enough) to take up the task
@Isnho10 ,thanks for expressing your point of view on cost estimation.
@AzariasJr ,thanks for expressing your point of view on project risk.
@Wobillson ,thanks for your point of view.
In my project different partners procure commodities to a central pool from where is is subsequently distributed to persons living with HIV. The country had also recently enacted a Policy to operate a lean inventory control system as a strategy to mange the already scarce resources. One risk we had identified is delay in a partners shipment affecting commodity availability at service delivery point. The likely hood of this risk is rated medium (2 out of 3 point) but the impact is rated high (3 out of 3). In the past we had mitigated this risk by ensuring that every quarter we do not rely on a single partner for all the commodity needs but split the quarter's requirement across two partners. However there was a change that meant one of the two major partners had reduced funds to support commodity procurement. It therefore became impossible to ensure that the requirement for every quarter was split across the two partners. There were quarters when the country solely relied on one partner for the entire commodity need. Although the likelihood and impact of delay in shipment receive date did not change, it became impossible to mitigate this for most quarters by using the other partner as backup. We resorted to accepting this risk for these quarters.
@Tibeme ,thanks for sharing your personal experience with project risk.
When the COVID-19 second wave approached our country, the government decided to stop all community engagements including community testing. We had to accept and find some ways of availing HIV Self Test kits to our clients since we had a target of HIV positive cases.
@FP ,thanks for sharing your personal experience with project risk.
One time that I accepted a risk was when the training resources we have is not sufficient. I accepted it because the allotted time to delivering training was too constraint that increasing a budget would not be worth it on focusing on that one risks.
@Quest4knowledge ,thanks for sharing with us about the constraints that come with project risk basing on your experience.
We planned our trainings outside of monsoon season which would have been a high risk. Instead we planned the training at a time when the weather and the roads should be good. The weather would be hotter and air conditioning would be required but we thought it was worth the cost to ensure that trainees could make it to the training.
@KristynZ ,thanks for sharing with us about your experience with project risk.
It wonderful reading all your individual experience. Very insightful. Thanks to everyone.
During the presidential election no activities can be done due to political activities that can not allow the project training to be conducted because people are preparing for the presidential election where they are going to vote for their new president.
Avoid the risks on the project is to take care of three constrain, Scope, budget & Time. be transparent is very important be sharing the project details with the stakeholders and all the activities and the challenges that can affect the program will be mitigated
@chuoljohn ,thanks for expressing your point of view on project risk.
@usman_Hafsat ,I am glad that you're learning through reading other people's experiences.
When a probability of occurrence of a risk event is low, it is ok to accept the risk.
When a probability of occurrence of a risk event is low, it is ok to accept the risk.
Natural hazards such as drought and flood are risks that are mostly accepted when implementing a project in agricultural sector. Those risks are mostly imprevisible and when they occur , they could be hardly be mitigated
@rkhanal ,I absolutely agree with you.
@SENON ,I agree with your point of view.
the risk we had on our project one day was the funds depleted while the project was not complete, the solution to that was project and finance manager wrote a report to donor, expressing how they underquote the project budget, they also provided all guidelines on how the mistake will never be repeated. the donors agreed to fund the deficit luckily.
@Shitiabayi ,thanks for expressing your point of view about project risk.
Sometimes, it is necessary to accept risks. If the cost of mitigating a risk or transferring a risk is so high that it may lead to risk of project failure, it is better to accept this type of risk. For example, the risk of too much snow affecting the final of a champions league football game should be accepted. The cost of mitigating this will be enormous!