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  • We were transferring vehicle from one project to another and i decided to drive the vehicle through insecure route instead of lifting the vehicle by air. I decided to do it because it was economical method, and from investigation i noticed irregular local transporter they are using the same route.

  • I was managing a fit-out project while I was 8-month pregnant. The project duration was 30 days and the project owner/client had put a term in our contract which I needed to pay penalty for each day of delay. There were many risks signing this contract but I had to sign. The risks of delaying the project due to facts caused by other stakeholders like subcontractors and suppliers were predictable as I had completed many similar projects so I could manage the risks by observing their daily work commute and arranging alternative suppliers to receive the materials on time in case of a delay by the primary suppliers. The only risk caused by me was to have the possibility of giving birth early. Therefore I have arranged a project supervisor to replace me if I need to leave the project before it is completed. He was involved in whole process from the start, I paid him a certain small amount to be involved partially. The result; I had to leave to give birth on 31st day of the contract, the project had been completed with a 5-day delay. The owner did not apply the penalty as he was very much happy with the result and our work. That was a good experience resulted successfully for our future projects .

  • @Paakojo2009 said in Module 3 Discussion: Accepting Risks:

    I planned for an activity for student but no one showed up

    I think this type of Risk should have been Mitigated, whereby you investigate before inviting them to know more on some of the barriers that might deter them from participating. This, I still think should not be an Accepted Risk since the activity depends much on the Students.

  • A risk can only be accepted when it has no much efect on the impact of the project , if not it has to be mitigated.

  • I work on a project where transportation for beneficiaries were not budgeted for... beneficiaries walk longer distances to receive services for their conditions. Due to delay in the arrival of commodities by supplier, the beneficiaries had to overnight and this irritated them that led them to prevent our vehicle from leaving the site in demand for transportation allowance. I communicated this to head office and was immediate acted upon but was an off budget spending. In our next plan, we decided that supplies are pre-deliver prior to the date of distribution to avoid the recurrence of such an incident.

  • Nigeria presidential election is postponed for one week. It is acceptable, but where is a risk that people will not go to vote because they are discouraged. The Independant National Electoral Commettee doesn't identify the risk that the election will be postponed. Another risk in this case is that opposition will protest the results when presidential party wins.

  • During our first project on Health Mutual in Guinea, after adhesion and collecting the money from the citizen, the last step was to manage the members when they are sick to the health facilities. Without thinking that the risk of Ebola disease willoutbreak, the project stopped but acceptable by the members .

  • I believe a good example is currently ongoing in an upcoming presidential election in a country in Africa. The date was scheduled and the same day it was cancelled due to unforeseen circumstances which should have been anticipated earlier by the election organizational team. Some election workers & volunteers had already embarked on the journeys to various rural areas. Time wasted, resources wasted. The new date scheduled still will affect certain people in various geopolitical zones.

  • I'm leading a project on the prevention and management of cervical cancer. We had the plan to train health workers of our project area on cervical cancer screening. As the country moves to the federal system, health workers are being adjusted resulting massive turn over of trained health workers. Hence, we decided to postpone the preplanned training until all the health workers are posted after adjustment.

    1 Reply
  • Accepting risk usually occur when a business acknowledges that the potential loss from a risk is not great enough to warrant spending money to avoid it. This is otherwise known as 'risk retention' and it is an aspect of risk management commonly found in the business or investment field.
    However, my experience as a HR/Management consultant occurred sometimes a go during the training session in a particular organization here in Nigeria. We underestimated litres of diesel to be consumed by the generator during the training hoping that the electricity distribution company would give us steady supply throughout the period and the only person who could approve the supplementary budget is the President of the organization was not on ground.
    Imagine the participants/trainees are seated, no electricity supply and available diesel cannot serve the generator for more than hour, the training session would last for three hours, it was the last day of the training, the President was not around and no one could even predict if he would be magnanimous enough to entertain such complaint and approve additional budget.
    Laconically speaking, we decided to go on with the training and condensed/adjusted the training schedule to an hour if the electricity distribution company failed to supply and inform/appeal to the participants about the issue. It was a big risk but resigned to fate and accepted the risk but surprisingly, electricity company eventually supplied the light thirty minutes after the commencement of the training and everybody was happy.

  • My experience occurred during a training session when we had little diesel to sustain the generator if electricity supply company failed to supply light. It was the last day of the training. We decided to accept the risk by starting the training and luckily the electricity company eventually supply the light.

    1 Reply
  • @awyndham said in Module 3 Discussion: Accepting Risks:

    This is the module 3 discussion. You may participate in this discussion after beginning module 3.

    Sometimes, we identify a risk in advance but decide that it would be too difficult or expensive to prepare for it. This can be a difficult decision to make. So, for this module's discussion, let's share our thoughts: when is it okay to accept a risk? Do you have any examples of risks that you identified but chose to accept? Why did you decide to do that? Read through your peers' responses. Can you offer any advice or feedback?

    Example response: One time that I accepted a risk was ______ . I accepted it because ____.

    I have never faced a risk that I had to accept but I can guess a situation where the risk is a soil not appropriate for a crop cultivation but the farmer do not have another land. We can decide to go ahead with this farmer knowing he may not have a good yield as expected. We accept the risk first. Secondly, we try to see if adjusting inputs can help mitigate the risk.

  • @awyndham said in Module 3 Discussion: Accepting Risks:

    This is the module 3 discussion. You may participate in this discussion after beginning module 3.

    Sometimes, we identify a risk in advance but decide that it would be too difficult or expensive to prepare for it. This can be a difficult decision to make. So, for this module's discussion, let's share our thoughts: when is it okay to accept a risk? Do you have any examples of risks that you identified but chose to accept? Why did you decide to do that? Read through your peers' responses. Can you offer any advice or feedback?

    Example response: One time that I accepted a risk was ______ . I accepted it because ____.

    In carrying out a project I identified a risk which which was the person to carry out the analysis and interpretation might not be available. I accepted it because I had an alternative, the risk was low.

    1 Reply
  • At one time I run the risk of loosing an important opportunity in a meeting due to network challenges, since the meeting was online. I accepted the situation since I knew the network challenge may be temporary. Fortunately, the organisers rescheduled to a time convenient to me so I could have good internet for successful meeting.

  • one time that I accepted a risk was debts. I accepted because it was my mistake.

    1 Reply
  • @maajid said in Module 3 Discussion: Accepting Risks:

    one time that I accepted a risk was debts. I accepted because it was my mistake.

    @maajid Please can you share with us how you were able to mitigate this risk in the later.

  • @Loveth So we can say you identified the risk before hand and you mitigated by having an alternative on standby??

  • @Jcmoore This is a major risk and would definitely have affected the session if power was not restored in due time.
    I think as Project Manager we should always endeavor to always mitigate every risk to the point where its impact will be significantly low on our project.

    Thanks.

  • @Shiwakoti This event surely affected your project. I think this should have been foreseen if the environment, community, and all necessary factors was properly analyze.
    Thanks for sharing.

  • Hello dear Learners
    This discussion of accepted risks reminds me of an initiative I started with my brothers in 2010.
    Seeing the lack of food products on the market, we decided to approach our friends in the village to invest in cassava culture.
    Recognizing that we were in an election period, we started anyway because for us once the land was planted, no trouble could prevent our project from continuing because we were in a rural area. We accepted that risk. But hold on, as we look at buying our seed fund after ploughing the plots, that’s when all the banks closed for an election crisis.
    It was a total disaster. We had to collect cuttings of cassava variety from local farmers to seed our land.
    Just to say that it’s really not easy to control the risks. Even the smallest are to be watched.

  • one time we were supposed to have a training session with a teacher coming from a city in conflict . We accepted the risk that he might not come due to road barriers made by separatist warriors.

  • I organized a seminar for 60 people and contact thoroughly the companies but only around 10 companies participated, were not calculated that risk.

  • the time i accepted a risk was when i allowed 4 members of our company to travel in one car to the field (against company policy). This was because all available vehicles were away on other assignments and waiting would delay data collection process in the field

  • On time that I accepted risk was when I implemented a garden project in sodic soils. the risk was that the soils would collapse and form gullies. What eventually happened was that one side of the fence collapsed and we had to reinforce the entire garden fence.

  • Accepting risk not something easy, before doing any activities you plane but the risk is something that we don't know his coming day, in my village I starte to invest in agriculture near a river forgeting in rain season water come there a lot before I notice that I was far in my invesitment but this year by the grâce of God rain didn't come a lot so I was save.

  • one time we were supposed to have a training session with a teacher coming from a city in conflict . We accepted the risk that he might not come due to road barriers made by separatist warriors.

  • I organized an event in school but had a low turn up of students. this happened because i fixed the event during the school SUG (Student Union Government) week, when they were lots of planned events for students by the SUG. if i had considered this risk, i wouldn't have fixed it on that date, but I also received funds from my donors late, that prompted I and my team to fix the event on that date.

  • I have experainced the rasik of increasing the exchange rate in previous project which was mitigated by including contingency

  • One time we planned for an event it was the third year we were doing it and all went as planned but people did not show up because someone else planned a similar one free of charge we did not get returns on investment as planned so i decided to accept the Risk

  • This is an insightful course especially the risk management matrix

  • One time that I accepted a risk was when I organised a fundraising party. I catered for 50 people but not many arrived because the road was blocked off by the Police. A tree had fallen right across the road hindering cars to pass. This was the only entrance leading to the venue. I accepted it because a natural disaster occurred which I would not have predicted would have happened that particular day.

  • I remember in 2016 where we organized a career mentoring open day in a particular school and we had invited everyone and made all the necessary logistics arrangement for the program, only to get instructions from Education Board not to hold the program on the grounds that we didn’t not carry them along in our preparation. We had the option of liaising with the school and proceed with the open day and risk losing our approval to ever have any program in any school. We had to cancel and properly consult with the board. In 2018, we got approval to have programs in all the schools in the state.

  • As risk response to studied risk that won't have a large impact in my project, I won't spend money or resources I will accept them but after taking a very good study of the likelihoods and impacts by experts in differents sectors (Socio-politics, Economy and environment) and according the obtained results we will proced to the responses that won't impact our resource and won't impact the advancement of our project in near future,
    I find that providing a very good experts will lead to good analysis and responses to the risks, so the key factor is to hire excellent experts with an important experiences to create a solid team.

    By the way I liked this module is very interesting
    Thank you Philanthropy University and for all staff

  • One time that I accepted a risk was during a sterilisation campaign and we had huge issues trying to locate the correct homes to collect the animals from. Some of the areas we work are in low income areas and some houses are unaccessible or non existent compared to the maps, roads are in poor condition etc. I accepted it because I knew that we could ask for assistance from the community leaders who would be able to guide us to the right homes in most cases and also because there were so many unsterilised animals in that area, that we were bound to find enough numbers even if not from specified houses.

    H
    1 Reply
  • @Mokaje said in Module 3 Discussion: Accepting Risks:

    I was once part of project, whereby I had expert knowledge of a specific equipment that was intended to be procured and installed for my department.

    I worked with a Project Manager, who had no exposure to the type of work I do and the equipment required to do it. What transpired in this case is that, I anticipated a risk of the project failing to be completed on time and to specification, based on the fact the Contractor assigned the project lacked experience.

    The Project Manager failed to see the risk in my context, and believed too much on the Contractor to deliver. After numerous engagements with her, I accepted the risk and its possible impact. In the end the Contractor finished the project (installation & testing of the equipment) after numerous deadline extensions of the project, which resulted with an over expenditure for the project.

    This can be extremely frustrating to handle when it seems like you clearly could anticipate the risk well in advance. I always say that as long as you created a good paper trial to indicate your mention of the risk in meetings or discussions , that you at least covered your bases. You can then use that as learnings to take forward to the next project

  • One time I accepted risk was taking responsibilities of something totally new -I do not have any basic knowledge on it- in my life. I accepted it because I know that it will be a worthy learning.

  • Once I accepted that the risk was not getting permission from officials to work in the slum. I accepted because if I tried working on it, my permission to work in other areas also will be affected

  • @awyndham said in Module 3 Discussion: Accepting Risks:

    This is the module 3 discussion. You may participate in this discussion after beginning module 3.

    Sometimes, we identify a risk in advance but decide that it would be too difficult or expensive to prepare for it. This can be a difficult decision to make. So, for this module's discussion, let's share our thoughts: when is it okay to accept a risk? Do you have any examples of risks that you identified but chose to accept? Why did you decide to do that? Read through your peers' responses. Can you offer any advice or feedback?

    Example response: One time that I accepted a risk was ______ . I accepted it because ____.

    We were having a Mid-Year Review Meeting of our Annual Action Plan and at the time for Lunch to be served, tour checks confirmed that the caterer we engaged to provide the service was not done with the lunch. The I accepted here was the fact that the meeting was going to close a little more later than expected due to the delay in taking lunch. So we engaged the participants on the other items proceeding the lunch while monitoring the caterer.

  • I have not plan a project before, but I have learned to accept the risk when it arises.

  • @awyndham said in Module 3 Discussion: Accepting Risks:

    This is the module 3 discussion. You may participate in this discussion after beginning module 3.

    Sometimes, we identify a risk in advance but decide that it would be too difficult or expensive to prepare for it. This can be a difficult decision to make. So, for this module's discussion, let's share our thoughts: when is it okay to accept a risk? Do you have any examples of risks that you identified but chose to accept? Why did you decide to do that? Read through your peers' responses. Can you offer any advice or feedback?

    Example response: One time that I accepted a risk was ______ . I accepted it because ____.

    One time I accepted a risk was when I was handling a project that required me to procure some imported medical equipment, I never considered a fluctuation in the exchange rate. The local currency devalued and the cost of the equipment up.
    I accepted the risk because the budget could still accommodate the increase.

  • At one time I accepted i was faced with a risk of having building materials vandalised or stolen due to to inappropriate starage. I accepted the risk because the country was facing hyper inflation and chances tat the materials were not going to be available if I delayed buying by even 2 days. I had to buy the materials and tried to beef-up security for them

  • It is extremely important to plan for risks and how to respond to it, it is also important to know when to accept a risk as a way of response. During the risk identification stage, it is good that one plans for other options or contingencies, I think with your various options and contingency plan, that will be the right time to accept risks.
    One risk that I accepted was inflation and exchange rate, it was anticipated to affect the implementation of one of our deliverable in a project. However, there was a contingent plan to respond to that so when it happened all i did was to accept it by using my other options while monitoring the situation.

  • @MphoH said in Module 3 Discussion: Accepting Risks:

    One time that I accepted a risk was during a sterilisation campaign and we had huge issues trying to locate the correct homes to collect the animals from. Some of the areas we work are in low income areas and some houses are unaccessible or non existent compared to the maps, roads are in poor condition etc. I accepted it because I knew that we could ask for assistance from the community leaders who would be able to guide us to the right homes in most cases and also because there were so many unsterilised animals in that area, that we were bound to find enough numbers even if not from specified houses.

    Asking for assistance to locate the houses is a beautiful way to accept the risk.

  • @Nathfem said in Module 3 Discussion: Accepting Risks:

    I registered for a program for two months,and it lasted for three months.

    I can only imagine the convenience that could have caused. The time flame of one month is too huge when it was not planned.

  • One time that I accepted a risk was when the value of my country's currency reduced and the exchange rate dwindled thereby leading to difficulty in purchasing items already budgeted for. We had to contact the donors however before going ahead to spend above the budget rates.

  • For a period of about three to four months one of our research community has to be in a stand still of work due to tribal issues as a result of Kingship which pulled our research work backwards and have to accept the risk of not finishing our work on time.

  • When both the likelihood and impact are of lesser extent. I accepted when I decided to raised money for my organization by well wishers were responding in low numbers. At the same time, I identify that if people fail to give to the organization, I'm likely to fail from proceeding into the next level I prepared for.

  • In my case, my country, we usually encounter many risks. Some of them we accepted because we know it is common and it won/t affect our project.

  • One time we decided to have a borehole in the organization premises. We knew there would be the risk of getting low water mass and community interference but had to accept and prepare on how to handle the risk when it comes. Firstly we went and talked to the community and and agreed that if there will be sufficient water we shall give out for free, and the community would be glad and protect the borehole from vandalism.

  • One time I had to run the activity, while the release of the budget allocated for that was still pending, due to some regulatory measures and time constraint. I accepted the risk, and went on. The budget came three days after the event, i was able to complete the documentary requirements for payment and liquidation. I wouldn't do it if i had no guarantee, anyway.

  • There has been moments that I have accepted risk. This was because the risk level by assessment of its likelihood and impact was somewhat insignificant to project activities.
    Thank you.

  • I am tasked to manage a micro-finance program which runs the risks of little or no return because the borrowers are all survivors of an armed conflict.

    I have accepted the fact that no amount of values formation training make sense if the ecosystem around basic needs are not addressed by other duty bearers.

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