My Communities

My project end goal is for our caregivers to franchise. We take them through a three month intensive training and mentorship with hope of them Franchising at the end.
However, the risk related is that some if not most drop out before franchising. It's a risk we have learnt to accept but we are getting around it

one time I planned to organize a football competition. In the same I traveled for a mission to different area.
before I back, I had a problem to return back. and the furniture's I command were not available.
So I then accepted to not do this activities because it was too late to realize it.

I am currently working on a project (WOHEVER) that aims to develop a mobile application to improve the management and monitoring of women's pregnancies in hospitals in Niger.
In the case of this multi-actor project that I am leading with three other structures, the risks that we have identified include the following
1-Administrative delays in obtaining official authorization to survey pregnant women in hospitals
2-Strong resistance of the Nigerien population to change
3 - Decreases in the commitment of the project team members as it is a multi-stakeholder project
Thus, we decided to mitigate risk 1 by conducting surveys with the target population outside of the centers while waiting for authorization and to conduct a strong sensitization/training campaign for the target population to mitigate risk 2 and finally to accept risk 3. However, we organize weekly reporting and progress meetings.

This can only be Wiza Simuchimba.

That was great but could have negatively impacted the intended outcome

A nice mitigation technique to keep your project going

A least you tried to monitor the situation, despite the other options being unattainale.

when the risk has a high impact on the project then you have to prepare for it in advance.Most likely you can mitigate or transfer.

during this period of covid 19 pandemic , sometimes government prevention measures was to stop an area where there were a high number of people infected , we put all materials related to prevention but we can not control the whole district.

In my point of view, it is ok to accept risks, when calculated and controlled they can have small impact inside the project or people who work there. Yes I have example where I had to take a risk in my own company and happens always when we need to purchase chicks, even without favorable temperature conditions (hot or cold) we insist putting chicks to avoid stopping the production, clearly when it is summer we reduce the quantity of lamps and when it is winter we add more lumps and controls the temperature to provide as much as possible of warming. So we decide always take those risks because our country works like that, if we want to do something we should be aware of the temperature conditions and figure out template to face it. Advice I can give is find out someone to give instructions about how to deal with the risks you are dealing with at the moment and not stop there, continuing with assessment, controlling and monitoring.

One time I accepted a risk was when key project participants were withdrawing from the study

One time I accepted a risk of not reaching out to our actual targets.we were reaching out to schools to mentor and sensitize students. But then,we realized that the category of students who needed that program most were the ones who skipped school,and such sensitization programs as they deemed such programs as a waste of time.

In my opinion accepting a risk should be an option only when there are no better options available. Mitigating and Monitoring the risk are more likely because they come in between avoidance and acceptance, when you avoid a risk you are avoiding an activity along with it which might affect the projects impact in a negative way however accepting the risk and spending on it may lead to unnecessary wastage of human and material capital.
My Experience on risk was that at the beginning of the project of training youth on skill aquistion we notice the trainers were not able to make it on time during early hours of the day we was causing delay in covering the training curricullum, however we quickly identified and mitigated it by rescheduling the classes to afternoon and evening this helped in managing the risk and was accepted by both trainers and trainees.

The outbreak of covid 19 has caused havoc on most economies, giving rise to prices of commodities resulting from inflation. Deciding whether to buy goods at the current price or wait hoping for appreciation of the local currency against the US$ is risky. This is coupled with the coming election which will impact the economic performance and so the exchange rate. I decided to buy goods which have been ordered for and avoid any stocking.

One time, I accepted a risk in one of our project. The cheque to be given to our project from donor already signed by the first signatory but the second signatory to the cheque was admitted in the hospital for an emergency, and which will cause delay in getting the cheque. But since we foresaw a delay in the process, we had already included that in our project timeline and we were only delayed for 5 days

Accpeting risk itself is a big challenge. But we have to make different options considering if so cases.

One time the PM accepted to pay the transportation costs which were supposed to be covered by the field. They asked our organization to pay this expense and afterwards they would make us a refund. The PM accepted to do it because without the equipment (computers in this case) the project could not be started and he wanted to be on schedule as required by the donor. In addition, the community we where funding was related to our organization, so he knew thet would pay. Bottom line, we have been claiming more than a year to get the refund. The project was finished on time and the activities were done but be had to speak to our organization's authorities to intercede, lost a lot of time and energy claiming and (worse) we had a debt on our annual balance sheet that we had to account for.

thank you very much

If the risk is quite small and does not seem to impact much, we should accept it rather than unnecessarily spending portion of budget to mitigate or avoid the risk

It is very true, risks are a part and parcel of each project and in as much as some are manageable, some will be beyond one's control. These are the ones that have to be monitored closely but not lose touch of their development

Thank you for sharing. this is resourceful and informative experience.

One time I accepted the risk of completing a project when the project manager was not available as the lead. This was a safe risk to take rather than delaying the project and slipping behind schedule. I worked closely with the assigned project manager to outline the new roles, goals, and plan while they were unavailable. In the end, everything worked out just fine.

Upcoming presidential elections will interfere with workshops. this risk we mitigate but during break we also monitor if everything is ok we can continue and vice versa

One time I accepted the risk was when the software product we were using for making payments suffered a catastrophic downtime. This implied that I couldn't make the payments, allowances, for members on time and there was a possibility of the organization loosing critical employee's information. I accepted the risk because the Supplier couldn't be reached and the company, through the procurement, had failed on two occasions to pay the software's subscription fee.

I also accepted a risk because it was minor and easy to circumscribe without any risk of delay that could affect the schedule.

There was a time when my organization was expecting to be given accreditation for local government election observers, the application was turned down because of political change. We had to accept and give support to those who were allowed to observe the election so that they could do what we had planed to do on our behalf.

I do not have the experience in risk management but following this knowledge Iam getting in this course I can say my views.

When you do not have enough resources especialy financial to work on the risk consider looking for different ways which will lead you through like scheduling time to skip expected risk period like for political based risks though will also interfere with the project's schedule.

Some risks are unavoidable such a natural disasters but the way an organisation plan in advance and react upon occurences is of paramount importance.

one time i accepted risk was graduation program we were small town for only one hall to hold programs so we just booked the hall and paid advanced so the council of the city needed to had meeting so our graduation program had to delay

One time that I accepted a risk Weakness and interruption of the Internet affect the access of materials. I accepted it because it is relatively small and with low impact

One time that I accepted a risk that Weakness and interruption of the Internet affect the access of documents. I accepted it because it is relatively small and with low impact

In Tanzania, due to political stability, the major risk for most of the projects is political interfearance.

Thanks For your Views

every project comes with its risk, accepting the risk should be when the project manager sees how much impact that risk would have on the particular project

Our company runs 7 days a week and any downtime can cause delay in revenue and backup in operations. We often have to update our software and despite running tests on servers we still have troubles with launches. We cannot avoid updating our software so it is a risk we have to take each time.

I'll accept a risk when its impact wont be so much, you wont have to spend your resources, you just monitor it, we were to make supplies and their was an on going peaceful protest, it delayed us for about 2 hours, I accepted the risk cause the impact was not much.

In some parts of the work, I think a lot of executed projects risks are managed or responded to by mitigating and accepting the risk.

Sometime, i had to accept the risk if it is beyond my control. Because, it happen naturally without my concern.

One time that I accepted a risk was when a member of my team decided to quit, I accepted it because i had two trainees available to replace.

its good to accept risks before its too late because it helps to solve it properly and avoid other unnecessary inconveniences

one time that I was accepted a risk is traveling to home from the capital city by bus at covid 19 pandemic situation because eventhough impact was high likelihood was low due to safety precautions.

Risks are part of the day to day circumstances in a project, so it is better to accept unforeseen risks which are likely not to be avoided or mitigated. so always, go back to the drawing boars adjust and continue with the project amidst risks.

Risks are the uncertain events whose occurrence may impact the effective implementation of the project. For some risks we can attach a probability of occurrence due to past experience or based on expert opinion while some are not predictable at all. It is therefore important to accept all the possible risks that could affect your project and incoprote them into your risk contengence plan

its true that risks that have little or no impact on the progress of the project can be accepted

Risks are usually inevitable in project management , however there are ways to tackle those risks. among others, risk can be accepted. risk that have little or no impact on the project falls in this category. for example, risk that dont invovle the key targets or beneficiares, risk that dont involved the critical path of the project progress

Unfortunately I have not participated in an project so far but I think I would accept a risk if its Level of impact is too low to cause an harm to the success of the project.
secondly I would accept the Risk and Just monitor it if it requires too much resources that my project may not afford to spend. I would put up a counter measure like stopping the project in case this risk pops up.

Accepting a risk and then try to reduce it likelihood by prioritising can have a significant impact ona project

One time I accepted a risk was when I procured marketing materials a day before the youth event my organization was hosting, because we could use some of our old marketing materials had the supplier failed to deliver the next day.

Any project always generates a kind of challenge that makes the project manager find efficient ways to respond to various threats and uncertainties that may jeopardize the successful completion. Implementation of the risk planning process lets the manager to solve the challenge by planning for potential risks and developing solutions that reduce the likelihood of risk occurrence and mitigate the negative impact of the risks. Hence its is okay to accept risks. When you start implementing your project endeavor you need to plan and manage for potential risks; otherwise, you’re likely to fail with achieving the objectives and goals of the project. Designing and implementing a risk management plan template will help you handle the challenge. Risk planning is one of the most important components of the Project Implementation Guide as it helps you to understand how to plan for potential risks affecting the implementation of your endeavor and minimize the likelihood or consequence of unpleasant and negative results that may jeopardize the achievement of project goals and objectives.

We have to accept the risks while controlling them. Normally, risk should be part of the project life cycle.

For the smooth flow of the project, I have to accept risk because facing it with reduce chances of project failure to achieving it's objectives

To acknowledge the risk, but decide that any actions to avoid or mitigate the risk can be too costly or time consuming. Or, it may just be possible that the risk cannot be avoided or mitigated in any meaningful way, and the benefits of the project far outweigh the risks.

yes risks are critical aspects that need to be taken serious in before they can affect the performance of the entire project. some of this risks can be avoided if serious plans are put in place.

@MiyongKueth72 said in Module 3 Discussion: Accepting Risks:

To acknowledge the risk, but decide that any actions to avoid or mitigate the risk can be too costly or time consuming. Or, it may just be possible that the risk cannot be avoided or mitigated in any meaningful way, and the benefits of the project far outweigh the risks.

By accepting risks and developing the necessary mitigating measures it portrays maturity and preparedness of the project manager.

Example of accepting risk
Sometimes entities may accept a risk that would be so catastrophic that insuring against it is not feasible due to cost. In addition, any potential losses from a risk not covered by insurance or over the insured amount is an example of accepting risk.

How do you accept risk?
Reduce the risk by taking measures with the aim of eliminating its cause and thus reduce the risk. Transfer the risk to some other entity or person. Avoid the risk and therefore not to realize your intention. It is also possible to share the risk.

project management best practices?
Document project requirements.
Avoid estimating projects in a vacuum.
Use a project brief to get stakeholder buy-in.
Establish a clear project plan.
Mind your team's workload.
Clarify project roles and responsibilities.
Communicate early and often.
Monitor task progress.

Risk

1. Most houses are built with gates
2. All gates are expensive and colour black
3. A house with no gate is always robbed

Likelihood

1. 2
2. 4
3. 2

Impact

1. 4
2. 4
3. 1

Risk Level

1. 8
2. 16
3. 2

Response

1. Mitigate: identify the houses built with gate
2. Mitigate: expensive is a relative term. Get a list of the affordable gates.
3. Accept: monitor situation

The important benefits of risk management include:

1. Creates a safe and secure work environment for all staff and customers.
2. Increases the stability of business operations while also decreasing legal liability.
3. Provides protection from events that are detrimental to both the company and the environment.
4. Protects all involved people and assets from potential harm.
5. Helps establish the organization's insurance needs in order to save on unnecessary premiums.

In order to effectively manage risk it’s critical that you define what is (and isn’t) an “acceptable level of risk” (risk appetite) This, in itself, is not difficult to create and is something that a trusted third-party like Pivot Point Security can help you to develop in the context of a formal risk assessment process. Once you have defined your risk tolerance, you can then determine which risks are currently not “acceptable” and create a formal remediation plan to:

• Avoid**/resolve the risk (completely eliminate or forego risk)
• Mitigate** the risk (reduce the likelihood or impact of risk)
• Transfer the risk (assign or move the risk to a third-party via Cyber Liability Insurance)
• Accept the risk (acknowledge the risk and choose not to resolve, transfer or mitigate)

In project management, I have experienced many time taking the risk to ensure certain activity to move on. Ex. start a project with no funds into account because the project and budget ware already approved; travel at night out of the recommended time to attend to a project stakeholders meeting...

Every project comes with risk. The trick is to get ahead of it so you can formulate a plan for mitigating it. A risk assessment matrix enables you to identify all the things that could go wrong and calculate the potential damage. That makes it easy to prioritize issues and take action where it’s needed most to keep your project on course.

It is very important to consider all the risk factors when undertaking a project.

Deciding how to respond to a risk requires creative, resourceful thinking. There is no single "correct" way to respond to a risk.

One time I accepted risk was because it was not posing a huge risk to the project.

it was okay to accept this risk as it probably scored very low on the risk level

i think we can accept a risk if its impact is not a serious threat to a project, if it only affects one of the three important constraints

Due to a series of lockdowns to curb covid 19, we ended accepting that some activities that require field work in deep villages will not be done

assesing the likelihhod of the risk and its impact in the project will give us a matrix analysis

My Robotics team and I had to accept the risk of our robotics kit coming late to Sri Lanka from the USA and the risk of not having enough time to complete our project. There was nothing we could do to make the kit arrive earlier so we did some research online to find out what parts were included in the kit and did our preliminary designs with the parts that we had with us from the previous year's project.

@Paschal_007 Yes, this has been a risk lots of project teams have had to accept during the last year.

@MiyongKueth72 Thanks for posting these.

it is very important to identify the risks because it will help us to prepare well for the upcoming project risks.

Why do you believe that rain is is the only one barrier that could hinder attendance. There may have other factors as well! Did you surveyed the main factors that could explain potential absenteism ? If yes, how did you do that?

Economic risks, because of low circulation of money in the country with leads to few economic activities in a particular time

there were possibility of policy change over Saving groups on registration. this was due to the new reformation of policies. we accepted the risk that the Registered groups were to be registered again under new guidence. Extra efforts were needed to register groups again. the cost of registration were taken to the groups themselves.

Great responses

@alUG said in Module 3 Discussion: Accepting Risks:

@eltonjames ,thanks for sharing your experience with us.Its nice to know that your risk paid off.

This is very very true

Thank you. this is a good advice

Sometimes it is okay to accept risk, so that you implement a project if you are afraid of every risk progress will not be achieved.

i accepted the changes in amount of funding because i had no other means of raising the funds

@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.
Yes sometimes working with the US government we were greatly affected by government shutdowns. We had to have faith that eventually they would pay us what had been committed, although behind schedule. We paid our employees out of reserve funds.

Obviously, Accepting a risk in project management is difficult,but you may make it easy by doing confidential.

one time i accepted the risk when on a project of training women when there was sudden change in weather from dry to wet season. women turnup totally dropped and those who showed up came late.

It is okay to accept a risk when the likelihood, impact and risk level are low, and would not greatly affect the implementation of the project.

The risk I faced was the key resource person working on the project had to be away for a couple of weeks. I mitigated the risk by outsourcing someone equally competent during those weeks

Accepting a risk is acceptable if we can control multiple parameters that affect the risk, and that the benefits outweigh the risk involved.

It is acceptable to take a risk if there are multiple components that can be controlled and if the potential outcome outweighs the risk.

Agreed- low risk level is important.

Sometimes we are forced to take the risk due to outside forces that cannot be changed.

It is good to identify your risks in advance for better planning and allocation of resources. Some risks are not easily identified at the onset of the project. Therefore, the mitigation approaches to responding to a risk are highly recommended.

To accept a risk is when you are able to monitor that risk to come up with a response.

I accepted draught risk when I planted rice because I cannot avoid farming completely but response to the draught by means of irrigation

Once I had decided to accept when I prepare a mom's training project in training chicken breeding and egg production in masisi and suddenly the M23 war appeared and moving all the members involved on the other side of the border

In every project risk is inevitable. It is the response we give to the risk that matters in order to make the project successful.

We must not ignore on any risk! and Even if you accept a risk, you should still watch it closely.

Accepting risk might be necessary when the risk score (likelihood of occurring and impact) is low. If there is a high risk score, you should seek to avoid, transfer, or mitigate.

Creo que los riesgos se pueden mitigar haciendo una buena evaluación de riesgos del proyecto. También existen riesgos que no son críticos y pueden aceptarse hasta cierto punto, pero también existen algunos riesgos que pueden afectar desde el alcance del proyecto hasta el presupuesto.

I agree with you, it is important to evaluate the risk very well because that way we can decide what can and cannot be accepted.