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This topic of how to respond to risks has been a good one because I have learnt that some risks should be accepted.

This topic has taught me that some risks should be accepted

This topic has taught me that some risks should be accepted

The risk accepted in our area of operation is mostly cattle raiding in the villages so we accept the risk and monitor the situation before going to the field and also we mitigate it by putting a halt to affected area and operate in different village.

The last time I accepted risk was when I had to carryout training for teenagers on online bullying despite the bad weather. I had to do it because the issue was so urgent and the deadline was also fast approaching.

Hi Ezra John, Would you be kind enough to elaborate the type of risk this was?

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we were facing FOREX shortage to get permission for L/C therefore, we are forced to accept it until it will be solved by the government

I agree with your expression too

Onetime i accepted a was at the cause of implementation i accepted the risk was because the risk was minimal compared to the other risk involved in the project

some risk you should accept if you do not have other option to manage it. however that risk must be the one have smallest likelihood of happening.

Multi-skilling and lesson plan is the better way to control this, also during planning curriculum buffer can be kept to o0vercome such risks

One time that I accepted a risk was when I froze my Wi-Fi monthly payments. I accepted It because I travelled to the village where there was no network for nearly a year.

Great answer.

Thank you for the information.

There is nothing much to do with natural disasters the only thing is to accept and find prevention measures of not affecting your work.

I would rather face the risk than avoid it.

In the next few months I will start using tools and techniques that I have learnt from this course and these are:

• Gantt chart to help teams to plan work around deadlines and properly allocate recourses.
• Work breakdown structure to understand the work that has to be done to successfully produce a deliverable.

There was a time i participated in a project where we had to collect data in the outskirts which are hard to reach areas. We had to accept the risk because the roads would get worse during the rainy season and that was in summer. we were also trying to be on schedule so that data had to be collected to write the reports in good time.

I had to accept a risk on the implementation deadline of a project that was quite tight, because the billing of this project depended on this deadline that was already mentioned on the contract and the partner had to close everything within this deadline. To overcome this, I had to prioritise the final report and work at weekends to meet the deadline.

On time that I accepted a risk on project in which previous project manager prior to me passed away and some staff was leaving after contract term. I accepted it which was limit schedule and product scope that had requirements because I solved by balancing finalized scope and budget for resources

Similar experience

One time I accepted a risk was when the children went for holidays while our youth peace bridges project was running involving interaction of youth in South Sudan and the United States. I had to accept it because the children were undergoing a computer training session for ICT for kids and thus we can be able to hijack them from there, moreover, the children were in our nearest proximity, so we can go home to home asking them to come for virtual zoom meetings.

Thanks

Thanks to this online training! Up to this, I am able to start planning proposals and succeeded in one project for the construction of a community house for Brothers. the builders are now laying bricks, digging foundation and progressign with the work. Thanks I am determined to continue.

Why does one have to accept risks ? Is there any other expression that is used instead of merely accepting risks?

Imagine that you just started a project of training youth from 8 counties which are far apart. All the youth are to be trained in in the state capital. The 8 counties are not in harmony, all roads are not safe. How would this be made possible?

Imagine that you just started a project of training youth from 8 counties which are far apart. All the youth are to be trained in in the state capital. The 8 counties are not in harmony, all roads are not safe. How would this be made possible?

I once accepted a risk of connecting my office inverter to generator knowing very well it will cost my organization, but I did because during the raining season the solar hardly charged so whereby you work and experiencing light comes and go always get me worked up, I had to do.

one time i accepted a risk is during the corona pandemic and all the impact it brought, this is because i realized it was a pandemic affecting all of us

That's interesting to hear: accepting risk during emergencies. I'd like to know what happened next?

I accepted a risk around a Covid 19 vaccine project because the risk was minimal compared to the other risk involved in the project. But I let my supervisor approved my approach

How about exploring online training in this case?

It is a very useful module. But I think we need some reference and details on why they rate just 1 to 5 stars.

After opening a company...There are many risk to attend to for example fire, theft and burglary therefore need insurance over the building.

It is a really good practice to assess risks before implementation phase and take preventive action to avoid/mitigate them to avoid delay in project delivery and additional costs. Project managers need to be aware at all times to identify and reassess on real time basis. This module nicely highlights on risk management.

One time I accepted a risk because likelihood of the risk was less and investing resources on it in order to avoid it could be a waste. But monitoring was continuous.

During COVID, there was a lot of mitigation of risk by meeting remotely, but as the cases began to drop and vaccination rates went up in our area, more in person events were planned. One event was in the community for back to school activities. In order to engage best with our community we decided to be there in person. We made sure that the event was outside, that our team was wearing masks, and we had hand sanitizer that was used regularly. Any high touch items were sanitized frequently and distance was kept as much as was possible. While we interacted with hundreds of people, each interaction was brief and under the safest possible circumstances.

All projects has its own risks, some of them we can antecipated and prevent, but others is very difficult to antecipated.

So, we can put some extra days on the plan schedule and reserve a amount of money to solve this unexpected risks.

Sometimes its difficult to find a potention donar, but we should think about our family and friends first.

If we contact them, they can help us contacts more donars.

Yes, on a rural electrification project with the construction of HTA/BT lines in Benin. In the north, access to the various villages is difficult because of the rivers. But the project owner has already set a deadline that must not be exceeded. In my mind, at the appropriate time, we will use dugout canoes, but to my great surprise, the season did not hold as planned.

This can be a difficult decision to make. But you haven't a choice. on some projects, I accepted a lot of risks but accepted them because I didn't have experience.

I accepted the risk of travelling by road at night in a kidnapper-infested area because I wasn't sure the submission date/time of a particular project would be extended.

At one time during the project I accepted a risk because if mitigated would result in starting afresh with planing hence spending far more money than anticipated

you are absolutely righr

A risk is acceptable only when its impact have been adjudged minimal. As a professional, a time I accepted risk was when I was setting up a community advocacy against Gender-Based Violence. I had paid for transportation and I foresee that the driver might disappoint us. I accepted the risk, the driver disappointed us but he came through in the long run.

Risk is something to avoid but when all principle to escape the risk has failed you accept it with good faith so as to aid the progress of the setback and prepare for the better way out.

I believe the best time to identify risks are when you are breaking down activities. While thinking of the activities, think of the risks that that stifle the accomplishment

there is risk to drive a car also because of accident but still i drive the car because i have to reach somewhere in time. incase of that i calculate the risk in a systematic way .(1) my car internal condition (engine, break, steering, etc.) okay and i have 4 air bags in my car and also i drive my car in daylight with minimum speed

Yes, sometimes the outcome is worth the risk. One just needs to do all the preparations possible to meet said risk.

One time I accepted a risk to project success was when at a point close to the end of project implementation, my team was asked to scale up intervention to an additional 4 communities in order to reach more target population and in turn meet target for KPIs. I sat with team and we used set criteria to make selection. However, they picked a particular community which I didnt agree with as based on my own skill and experience, I knew wouldnt give us result. Truth is, there was an overwhelming likelihood of outright failure in that community. However, since out of 4 people, I was the only one who saw this, I went with their decision because we were already close to meeting our target and our success or lack thereof in this community had the opportunity to do little or no damage hence I suggested that we minimize the resources we depoly there i.e. personnel and also recommended we peg a 2 weeks trial timeliene there to test the waters after if we do not get good and sustainable results, we withdraw intervention from the community and either look for a more viable one or focus and maximize our results from other already existing viable communities. Needless to say we withdrew from the community after the 2 weeks timeline as the results we got from the community was abysmally poor. This way, I avoided unnecessary conflict, monitored the risk while also accepting it cuz the time and resouces deployed couldnt have caused great damage.

One time I identified low purchase power of youth as a risk but we accepted it because we encouraged the youth to borrow books instead of buying them.

Usually I put tolerance limit. If above tolerance limit but mitigation strong enough and can be accepted by all stakeholders then we can proceed. But if not, then we need to find another way.
Involving all stakeholders becoming important parts to ensure all parties well understood with the risks.

Thanks for sharing

Exactlyyyy. Rightly said

This is so true.

I feel the risks here includes:

1. Cost of employing a temporary manger
2. The fall in the productivity level due to overload on staffs
   And since the manager had a tendency of returning back, there will be no need of employing a temporary manager, because that will cost the company time in the long run, it means the new manger must take time to get familiar with the company system, which is time consuming. Therefore, the company should rather focus on mitigating the second risk.

I was committed to carry out a political campaign of a decieved house of Representative,when he made promised to change for the betterment of the people he was representing, I shade tears trying to convince the community, some have even decided to bit me,later I convinced them with the written agreement and I did called on him via phone to address them vividly

I shared similar experience with some of the learners that sometimes I had to accept a risk on the implementation deadline of a project that was quite tight and or had to implement an ad-hoc assignments from the donors. To meet this challenge, I had to speak to the Project Lead, explain the situation, shuffle my priorities and work late in an evening to meet the deadline.

I accepted a risk when some of our IP addresses used to get blacklisted and the reason for risk acceptance was that
the solution cost was very high compared to the revenue those customers were generating.

A long time ago,a risk I encountered was when start a project of eradicating illeteracy among children of nomad, the project started well but we approach dry season the all left with with their children and their animals in search of posture to the neighboring country.

An example of risk you may choose to accept is: for example organizing a workshop that requires people to pay and you are expecting a certain number of participants.
Some might decide to pay at the venue of the workshop. Some might not pay at all.

does the risk resources always included in the initial budget of the project

once i faced risk in the beginning of the project that was Royal Commission Permit in Saudi Arabia , we mobilized our temporary facilities and maintain all setups to start the project but as promised by client he did not get the permit on time , so we accepted the risk and did not start the project until RC permit received , we demobilized our resources to other project to support

I accepted the risk of a staff leaving a project for a while when the project has gone mid-way when i noticed she got pregnant

In my case i once accepted the risk in one of my project where i was importing some vehicles from Japan and upon reaching at the border for clearance it happened to meet with government change and was delayed for a month for that to be given a clearance as it was communicated that every vehicle has to be thoroughly investigated as it was thought to be affiliated with the previous political regime and my clients had to complained for not meeting the deadline as per our agreement as such had to accept the risk

External risks such as election, political unrest etc,can not be stopped or pre- determined. Putting in place a well detailed risk assessment and monitoring in place can help curtail the impact of the damage the risks will have on the project.

One time I accepted a risk is when the program had to retrench staff due to the raising of minimum qualification put in place by the government. I accepted the risk because we had already met out project targets.

You are absolutely right. However, this risks can be mitigated by through program rescheduling or break.

O accept a risk when the possibility of that risk happening or not is not in my hands.. an example is the whether changing

regarding to risk, i think the first thing to do is to accept them first before prioritizing them to know which to tackle first. how ever ignoring them is the worst thing to do as a project manager. i also think transferring risk to an insurance company has to do with types and kind. mitigation is very useful in risk management response. again i enjoy and understand how the chart is design to identify and classify risks.

yeah that is great , though you would have created a greater impact if to my opinion your project or that activity was reschedule for another time.

wow that is great , but again i think you did not suspected a regime change before it occur . if you had project that election may cause the change of political leader , you would have communicated it to your beneficiaries while maintaining the deadline , should in case as it happen , they had been interruption , your clients would have understood all of that without any pressure mounted on you. identifying risk before is very important.

good to learn from your rich experience

my boss always says one of the most used risk mitigation strategies is “do nothing – accept the risk. so we use this quiet often when the risk is on a lower score level

In our project we started an intervention which had transport reimbursement attached to it. There was a risk that clients would come just for the sake of transport reimbursement at the same time we needed the activity to be implemented. We accepted the risk eventually we mitigated the risk by providing adequate information to the clients on the need of the service above money.

in emergency. i accept it in order move on

Risks should be addressed prior to project implementation.

One time that I accepted a risk was during the project implementation phase date which I deferred to a future date due to the weather forecast. I accepted it because it was something that was out of my control.

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.

I think its okay to accept risk when the cost of bearing the risk and effect is not much. During a project, my team and I, identified the risk of farmers not attending the training due to their local market days, and so in designing the project, we included more communities to participate in the program so that other communities can make up the attendance for the days the other community members would be attending to their market responsibilities.

I think k to do nothing even after identifying such risk isn't the best approach, I think its always good to see from the perspective that something can be done to change the response.

When we accept risks we monitor them and ensure effective solutions are applied

I accepted a risk that has to do with cost inflation. Every year, we know the prices of things will increase due to the economy. So I and my project members always make plans for this

A well calculated or developed risk management mechanism will culminate in a well executed Project. For me, accepting/acknowledging the fact that there will be risk at the course of the project, is the first and most important step towards developing an effective risk management plan. Reason being that you will most likely not prepare for something you did not envisage or not worth your time/attention.

Some times, risk making help the program manager develop contingency plan to deal with the most significant risks in the future.

Risk is a common situation in the project implementation and that is why monitoring is done daily. The big problem is to don't identify ealry the risk and even you identify it, to don't prevent it or look for its solution in a time.

you accept a risk when the likelihood and impact of it happening are minimal.

In our country we are faced with risk every after 5 years due to elections this a risk that the government needs to deal with but so tricky to overcome this risk since many business and projects are affected at the longrun

I'm loving this course. Everything is systematic and empirical

Every day of our lives, we accept to take risks. Even when we are convinced that it is extremely risky, we are willing to go for it.
I believe that a risk is only acceptable and acceptable when the solution to it exists and is within reach.

For a risk to be accepted, it is dependent on the level. A high level risk cannot be easily accepted as it might fully disrupt a project plan, however, when it is a low level risk, it can be accepted and closely monitored.

The one time I accepted a risk was when I was in charge of organizing water baptism in a region that had no natural body of water. I had contacted a water tanker carrying 10,000 liters of water to fill the already improvised pool. There was the risk of delay in delivery but I accepted the risk because we had a few days before the actual event and a hotel down the road who was willing to make a deal if things didn’t turn out as planned.

Interesting read and great inputs by everyone. During Covid, my organisation also resorted to staff rotation.

one time i mitigated a risk was when we were building the second free school for CleverMinds foundation. i mitigated the risk by making sure to make peace with a waring community who had negative intentions for the school because we didn't put the school in thier community

Sometime I accepted a risk that the farmers might not be available for crop organic farming training, because the lead farmers already expressed interest in the benefits of organic vegetable farming.

We were implementing a project of upscaling cowpea production among the small scale farmers, when suddenly much of the implementation area suffered long dry spells. We had to accept the impact because it was a natural calamity.

One time I accepted a risk was opening a retail business in the wake of Covid-19.I accepted it because there were no jobs and many companies were laying-off employees to cut on costs.

Good, is Ballé Emmanuel

The best time to accepting a risk is when the risk itself is minimal and that you will be ready and willing to monitor the situation. You may not need to spend resources in trying to avoid it. At times if you try to avoid some risk, you may end up not achieving the goal of the projects. some risk are necessary to be a guide and to improve you towards achieving your overall goal.