My Communities

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.

I think it is okay to accept a risk when it won't have a very detrimental effect on the outcomes of the project. We know that risks are part of the job, and we have to deal with them along the way. Some risk are unavoidable, and it is here where we have to shine as PMs. For instance, I have to deal with a big problem in a project when I was working in a for-profit company: We were scheduled to do some installations in a very remote area, and we were told that site would be ready for installation once our team arrives. I had previous experience in the field and allowed for two days extra for the installation, in case the site was not actually ready. This was the right call. My installation team leader called me and told me the site was actually not ready, and we had to wait two additional days before starting our works on site. It was a good call in this case to add the extra two days, since it was a risk to arrive on site and not be able to start ASAP due to delays by other contractors (which is common in these installations in remote areas). Now there was a risk of extreme weather and not being able to complete job on time scheduled. I allowed these risks to happen because the likelihood of them occurring was low. We ended up finishing the job half a day later, so the effect on project delivery and outcome was mitigated and well managed.

High rate of inflation has been a serious risk for my organization. The university senate is forced to revise the academic calender to mitigate the budget deficiency because of hyper inflation.

Acceptance of risks even from an investment angle can be key in ensuring that all runs smoothly. It is impossible to mitigate or divert all risks.

We can only accept risks with low likelihood to happen coupled with low potential impact on the project. However, cost implication of the possible responses affect whether or not the risk is mitigated, avoided or accepted. In a HIV prevention program where key populations are supplied with prevention commodities such as condoms and lubricants, any disruption in the government procurement of these commodities posses a significant risk to the project. Avoidance and mitigation are quite expensive. Most at times, we're resort to sit tight and monitor the risk.

The best time to accept risk is when it has no higher impact on the project. For instance, while I was implementing a youth sensitization project in my community, I noticed

In my opinion, it is possible to accept a risk when its impact is not very high, let alone its probability. often after analysis, we realise that the level of occurrence of the risk is less considerable, at which point we take the necessary measures to mitigate it. the risks of vehicles getting stuck in the mud during the rainy season are often recurrent in sub-Saharan areas, and we must accept them at the risk of leaving the population suffering

Yeah, I agree. It just requires mitigation plans in advance .

I fully agree with you.

One time me and my team while organizing a stake holder engagement, we had to accept a risk due of time management as the DHO entrusted for mobilization had not done it effectively hence affecting our other activities. but we accepted this because we had extra time (an extra day) therefore we squeezed our activities and they were all successful because we got to know earlier about the risk.

So true, same happened to me.

Yes, some risks we have to accept in order to constraint on our side and at the same time if they don't have too much impact on our projects. Also, if we have seen them earlier enough

Risk taker and monitors are the most effective methods in order to use efficient use of project resources

In our context, there are several types of risk, but the one we are most likely to face is that of rising or falling temperatures. Because in the area of food security, this phenomenon has a very high occurrence. In most projects we simply accept this risk

A time I accepted taking a risk was during a magazine project, the team leader was absent and this pose a huge risk in coordination of the team and achieving the goal of the project, in the end we transferred the risk to the next team leader who quickly took charge of the project.

One time that l accepted a risk was when we had a workshop and relayed of electronic presentations and did not print hardcopies, l accepted the risk in the way that l continued the workshop by presenting from my laptop and planned to share the presentations later when the power is back and encouraged the participants to study the presentation and ask questions later if they happen to have a question on any area they do not understand

One time I accepted a risk was on a project of creating a magazine for a school; the printing materials was not enough and won't cover for the total copies needed, what we did was working with the ones on ground and monitor the supplies we ordered.

I was coordinating a project that required that we train women in agriculture, to develop an grow their businesses, adopt new practices and adopt book keeping for their businesses as well. The training began and I realize I left my training manual which was supposed to be shared amongst the trainees. I paid extra money (avoid approach) to get the manual delivered at the training center.

I was coordinating a project that required that we train women in agriculture, to develop an grow their businesses, adopt new practices and adopt book keeping for their businesses as well. The training began and I realize I left my training manual which was supposed to be shared amongst the trainees. I paid extra money (avoid approach) to get the manual delivered at the training center.

Sometimes we accept the risk of materials not arriving on time due to the environment of the market. Once we also accepted the risk of sending teachers to a teacher training via boat. There was a part of the trip that could not be reached via land, so we had to accept the boat transfer.

thanks for this course

Risk can only be accepted when the negative impact on the project is minimal, also sometimes we accept risks that will affect a project positively. I had requested for supply of materials needed urgently for a project when the funding is not available, I couldn't tell the supplier that there's no fund, because the wouldn't drop their materials and if they do,there will be an extra charges,but then I was hoping and the fund came just the next days after the supply.

From what I read on peer view comments, there's always a risk to take in any business, and its your decision to accept or not,

Risk avoidance and risk transfer can save alot in business.

@ayannamm1 said in Module 3 Discussion: Accepting Risks:

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

You're right

I think in any project plan or schedule,consider risk associated with weather conditions, mostly raining seasons.

I think in any project plan or schedule,consider risk associated with weather conditions, mostly raining seasons.

This was a good move as also our organization has previously been in the same situation.

We have prepared a project to fight organized crimes. We were listening to the phone calls of gang leaders and following them physically to gather evidence.

One day it revealed from the phone calls that one of the gang leader`s wife was at home with another man.

The gang leader was going home with car in the evening.

If we interfered with the gang leader, our project would not be able to achieve its purpose, since the evidence was not fully collected, and after this intervention, the gang leader would not leave a trace in the crimes he would commit.

If we let him go home, he would certainly kill his wife and the man.

In this project, I took the risk and told my follow-up team to crash into the vehicle the gang leader was in.

Thus, the man, who was with his wife until the accident records were kept, had already left the house.

With this risk, with a small accident cost, both the lives of two people were saved and our project continued.

I'm sorry, all the projects I had run were about criminals, thats why I couldnt give you other examples.

Accepting risks is important because it helps the project to thrive and help in identifying new methods of activity implementation.

Risks are inevitable in all projects and organizations ,hence the need to prepare adequately.

Accreting risk when it is optimal risk

Thanks for sharing the experience how you handle the risk

I have accepted risks in everyday life. I quit my job and moved to Europe without housing, a job or any connections. It all worked out.

The only time I accepted a risk was when a project was suppose to be carried out and we were suppose to move to the sight of the project on the same day. I accepted this risk because we had a project we were handling before that exceeded the expected period.

Presidential election interfere with workshops

One time that I avoided a risk was when it was forecasted to rain heavily on the day of my project launch . I avoided it because, the launch was going to be outdoors.

This is eye-opening. Given me insights on how to handle risks.

Communicating the identified risks to your team and other stakeholders can also go a long way in helping to know how best to respond to them.

One time that I accepted a risk was the time our presidential candidate pull out of the election race at the eleventh hour. I accepted it because there was nothing we could have done or replace the candidate as election laws does not accept this when the polls are just two weeks away.

It is crucial to have a plan for how you will respond to risks if they do occur and how you will monitor them so that you can take action quickly if necessary. There are a few key things to keep in mind when developing your risk mitigation strategy:

1. Take action before a risk emerges. 2. Have a strategy in place for how you will react to risks if they occur. 3. If required, be quick to respond and monitor risks closely. 4. Be willing to change - your risk mitigation plan should be flexible in order to meet new situations.. 5. Collaborate with others as much as possible while developing and implementing your risk mitigation plan.

By being proactive and prepared, with a responsive and flexible attitude, you can help reduce risks and increase the chance of success for your project.

In many construction projects, common weather events that affect construction are factored into the project duration, and as such risks of delayed completion are accepted

Module 3
RISK AND STAKEHOLDER MANAGEMENT
By now, you might be feeling pretty confident about your project plan. After all, you have planned for the big three constraints of project management. You have created a work breakdown structure for your scope, a budget for your expenses, and a schedule for your time. You are ready to get started, right?

Not quite. If project management were as simple as lining up numbers in a spreadsheet, it would be a far easier job. In reality, however, your beautiful schedules, budgets, and work breakdown structures will succeed or fail based on the unpredictable behavior of many different people. Problems—some expected, and many unexpected—will inevitably pop up.

Luckily, project managers have processes and tools to help plan for this part of the job. In this module, you will make plans to manage risks and stakeholders. By the time you complete this module, you will be ready to start the implementation phase of your project.

title
LEARNING OBJECTIVES
In this module, you will learn how to:

Decide how you will respond to project risks
Identify important stakeholders
Manage communication with stakeholders
Identify other areas of project management that project managers plan for
TIME REQUIRED TO COMPLETE THIS MODULE
1 hour, 40 minutes

25 minutes reading
5 minutes completing quizzes
15 minutes completing Stop & Jot exercises
5 minutes posting in the discussion forum
5 minutes watching videos
45 minutes completing your Stakeholder Analysis

Accepting a risk i agree its okey since we have other risks that we should be mitigating,,like going an extra mile resourcefully..

During the lockdown period as a result of COVID 19, I was nominated to be part of the team that will continue to go to work as my organization was listed as an essential service provider. I accepted the risk because the team comprised only a small number of persons and the probability of making contact with the rest of the team was low.

One time I accepted a risk on a project was submitting the assignments delay. I accepted it because the assignments were already half done by my colleague and he is very helpful to me, if did not submit it , he will do in lieu of mine.

I had to face a risk and accept it because to avoid it or changing project plan might effect more

sometimes we see a risk and accept it, beacause we feel with time, things will change.

risk management is the key knowledge which help project manager to facilitate project progress, this may help project to running well without an curcumstance

Future is always uncertain specialy in countries where need rapid work for humanitarian and development assistance. Even though, we are predicting, analyzing and responding risks in our projects. Mitigate and accept some risks considering the results of the assessment of context.

Ok. Good, could you please mention some risks that you are accepting?

As developmental it is normal to have risk on project, I had to face a risk and accept it because to avoid it or changing project plan might effect more negative on project than accepting it.

One time that I accepted a risk was when a big storm from a hurricane was predicted to be coming through town. This is not a business anecdote, but the example came to mind right away and illustrates the point of this Discussion well. I accepted this risk for two reasons - both Likelihood and Impact. The Risk Level was low enough for me to accept the risk. I judged the Likelihood of a horrible storm to be quite low, as the last few times everybody was worried about a hurricane, it simply rained heavily. I also judged the Impact of a horrible storm to be low for me, as I lived on the third story of an apartment complex on a hill - any flooding was very unlikely to affect me. Therefore, I did not spend time and resources leaving town before the storm. My area received heavy rain, but I made the right decision.

Incredible! What were you able to do, that made the nearby community agree to peace?

Nicely done! Seems you took all the measures to ensure in-person communication was as safe as possible.

A straightforward and good example of accepting a risk.

one day i expected the risk of insufficient rainfall. I however planted because i know at times things do change against the prediction

One time that I accepted a risk was taking students to volunteer at an event for mental health. A judge required people on probation to attend the event. I accepted it because it was an opportunity for my students to help a need in the community and learn more about challenges people face.

it is ok to accept a risk if you dont have much control over it. for example weather unpredictabilities

One time that I accepted a risk was during the middle of bush clearing for irrigation project, sudden social problem rises by the local community and we forced to stop the work. I accepted the risk because it’s occurred suddenly and the road blocked immediately.

Sudden social problem is also uncontrolled action that occured in our project.