Please update your browser
We have detected that you are using an outdated browser that will prevent you from using
certain features. An update is required to improve your browsing experience.
We have detected that you are using an outdated browser that will prevent you from using
certain features. An update is required to improve your browsing experience.
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!
JK Rowling once said, "What is life without a little risk?" From his perspective, I believe that risks are a part of life's ingredients. And sometimes it's okay to take risks. There's no shame in risking especially if it's for your own good. I have risked many times, and from these risks, I found success. So, I just wanna say to all that accepting risks is tantamount to giving yourselves time to be better in whatever you do. Risking sometimes leads to great milestones.
JK Rowling once said, "What is life without a little risk?" From his perspective, I believe that risks are a part of life's ingredients. And sometimes it's okay to take risks. There's no shame in risking especially if it's for your own good. I have risked many times, and from these risks, I found success. So, I just wanna say to all that accepting risks is tantamount to giving yourselves time to be better in whatever you do. Risking sometimes leads to great milestones.
In terms of implementing a project, it is necessary to risk our time that's supposed to be spent for our family and friends.
One time, i experience the risk of rise budget cost in transportation in the project that i was the project coordinate, so it was lead me to use my own resources to cover that cost of transportation
One time that I accepted a risk was when I was tasked to lead a team which was supposed to start a newsnew school . I accepted it because my Seniors had confidence in me that I will tackle the risks in the most political polarised area. Even though all government workers should be apolitical. There were risks that if I don't provide the service as expected I was going to a "persona nongratta"
@ClemenceK ,I am positive that this experience shaped & nurtured your leadership & managerial skills.Thanks for sharing with us about your experience with project risk.
@Daniel_habari ,the most important thing are the lessons & wisdom that we are empowered with as a result of any challenging situation.Thanks for sharing your experience with us.
@Dommenic ,the demands of running a project can sometimes override your time with family and friends.I totally agree with you.
@Dommenic ,I totally agree with you on this one.
@kessytonukari ,thanks for sharing your answer with us.
In my opinion it's okay to accept risk if the risk level or impact is not too large. Like in a situation where you have to import goods for a project a little delay caused by customs can be accepted but monitored
@AgathaIBU ,thanks for expressing your brilliant point of view on project risk.
One time that I accepted a risk was when we were doing a Cash Transfer Program for households in rural areas. I accepted the risk of the rural folk being duped of their monthly allowances because they were being done via a local mobile money transfer platform, of which any transaction done could be properly traced with enough details to prosecute would be offenders.
This will all depend on how we respond to each risk. We can decide to AVOID by spending some of the project's resources to avoid a risk
TRANSFER- whereby we share or shift the responsibility for the risk to someone else. like having insurance
MITIGATE- try to lesson the likelihood of the impact of the risk
ACCEPT- monitor the risk.
One time i accepted a risk was when funding could not allow to mitigate the risk. I accepted because spending money on the risk would have negatively impacted the project and may have reduced the chances of completing the project altogether
@Chalihims ,thanks for sharing your personal experience with project risk.
@Sekai ,your statement is brilliant.Thanks for sharing this informative statement with us.
@shadrecksamungu ,thank you for sharing with us about your personal experience with project risk.
One time that I accepted a risk was that children may not attend the screening at their school. I accepted it because I know the screenings coincide with the school-wide parent conference so the child will be brought in by their parents.
Hello @Theu ,thank you for sharing your personal experience with project risk.
That was really! helpful for me, I had problem handling this activities in the projects.
Our team had an experience in our livelihood project. One of the challenge is access to project location in rainy season, the team must carryout activities within the period (planting of seeds and monitoring). In that case, we manage to accept the weather challenge by monitoring the situation prior to field visit. Example, there exist a flowing stream which cannot be crossed in less than 2hrs after downpour. The team will organize a field visit 2 days after every rain-fall (should in case there is one).
Identifying risks should be a team effort. The team should brainstorm on the probable risks and list them. Using the risk assessment matrix managers are able to prioritize risks and choose the appropriate response.
@i_hayat_ahmadzai ,I am glad you realize how helpful this course is to you.
@binbaaz72 ,thanks for sharing your personal experience with project risk.Climatic conditions can greatly affect a project's progress.The most important thing is to monitor the weather changes and find at suitable time for project implementation.
@michaelmaundu ,I totally agree with your statement.
One time that I accepted a risk was not having access to market and input for my project due to Covid19 . I accepted it because I had no control over the risk created by the lockdown in my country.
I accepted a risk of opening a clinic before local government officials had visited the site, the needs of the community and access to healthcare came before political agendas.
@Shushenka ,thanks for sharing with us about project risk.
@EWURAMA ,your point of view on project risk is highly appreciated.
if risk is accepted the response should b more quick and spontaneous.
I time that I accepted a risk was authorizing the finance department to purchase motorbikes while awaiting the transfer for funds, because I had hope that the money will come within three months
In the current Project, I have identified the risk of political leaders not attend the opening ceremony of Polio Campaign, but we accept the risk because, it could have less impact if the identified leaders not attended the ceremony. The identified risk had low risk level.
Similarly, We had high numbers of refusals before the upcoming campaign, it was decided to reduced the numbers at least 30%, but it was risk to achieve the target. In this regard, our field communication team planned social mobilization and communication activities for their sensitization in order to convince them for vaccination. Thus we adopted mitigation measures.