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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 ____.
Upcoming presidential elections will interfere with workshops, its risk which is country wide and government policy
One time I accepted a risk was during a project that required children to attend a training session, with children who could not walk to the session . I did it because all the children resided in the community, and the chances of it raining during the summer months were unlikely.
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.
That was a good decision to accept the risk
@itizLeee ,thanks for sharing about project risk through your own eyes.
@vagafufagu41 ,thanks for sharing about your own experience with project risk.
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.
When we accept risks we monitor them and ensure effective solutions are applied
@SheziNomazulu ,thanks for your answer.
The one time that I accepted a risk as a business owner and for fulling a contract. I was providing cleaning/trash out of bank owned foreclosure homes for a default management. I accepted it because it would prevent people from stealing thing out of the house, and limit the burglary/crime rate in the neighborhood, and it brought revenue into the business.
The one time that I accepted a risk as a business owner and for fulling a contract. I was providing cleaning/trash out of bank owned foreclosure homes for a default management. I accepted it because it would prevent people from stealing thing out of the house, and limit the burglary/crime rate in the neighborhood, and it brought revenue into the business.
@eltonjames ,thanks for sharing your experience with us.Its nice to know that your risk paid off.
There is no business or job without its own risks. It is important to note that risks are there to help develop and become better. It also forms a good part of an experience you get from a project to help future projects.
@DoubleNana ,you're so right.Every business or project has a possibility of risk attached to it.
On time, I accepted a risk in a project where the manager was going on an extended leave. We tried to find a replacement, but were having challenges. We eventually went with a staff that had a lot of other responsibilities, so there was a risk that the pace of the work would slow down. We accepted this risk and prioritized some activities to be completed while the manager was away. The scope of the work was also limited since we eliminated some activities due to limited human resources and the level of effort they required. There was no flexibility in the budget to hire someone else and the time it would take to orient a new staff was not available either.
@Muslee ,your explanation highlights the challenges that come with the issue of a skills gap during project implementation.Thank you for sharing about project risk through your own eyes.
One time I accepted a risk in one of my projects was when there was a delay in accessing our funds due to issues with processing of TIN number and receipt voucher. I chose to accept it because the fund had already been placed on a signed check, we just couldn’t take it from the donors because they needed a receipt from our end. But since we foresaw a delay in the processes, we had already included that in our project timeline and we were only delayed for 3 days.
@EleletaSurafel ,thank you for sharing your personal experience with project risk.
One time I had to accept a risk was to cut off laborers or employees on a very high demanding job. I had to accept it because the company couldn't no longer afford daily expenses on the project as the number of employees was too high. So I had to take a risk to cut off some employees and run the project with a skeleton team
@khanda05 ,thanks for sharing your personal experience with project risk.
+How did this unfortunate experience affect your project's progress?
My country is about to go to the polls to elect the President of the nation and members of parliament on December 7. Realizing campaigns and other political activities would disrupt our sensitization programmes, most of the activities were done in quarter three (Q3) and the first month of quarter four (Q4). The rest of the months in Q4 will be used for home visits, referral of cases to the appropriate state agencies with protection mandate and follow ups of referred cases.
Again, my organization significantly works in trafficking in person (prevention and protection. The risks involved in rescuing victims of trafficking is enormous. The risks are transferred to the Ghana Police Service and the Department of Social Welfare who conduct the rescues on our behalf.
A point in time where I accepted a risk was during the easing of restrictions on social gathering. I had an engagement with adolescent boys and girls who had no nose masks but were socially distanced.
@FRANKAGBESE ,thanks for sharing with us about project risk through your own eyes.
In every project,risk is inevitable. Is the response we give to the risk that matters,inorder to make the project successful.
In every project,risk is inevitable. Is the response we give to the risk that matters,inorder to make the project successful.
One time that I accepted a risk was that I was new in the system and everyone around me feel that I can never be successful in it. I accepted it because I want to my mistake and thank God I corrected my mistake at the long run.
That was very well solved considering what level of impact it would have had on the company if the work had progressed slowly. Well done!!!
@Oluwabukola_ope ,your opinion about project risk is spot on.Thanks for sharing it with us.
@princeadebowale79 ,there's always a first time for doing anything.What matters the most is that;
+You were given a chance.
+It was a great learning curve for you.
great input, so resourceful
@nanosimatende ,i hope you're enjoying your time on this platform.
One time that I accepted a risk, it was an environmental risk . I accepted it because I knew our team needed to continue serving the youth of our communities, during COVID-19.
@KendraMoore ,thanks for sharing your risky experience with us all.
Currently, I have several projects which have to accept the risk of natural disaster. We had a project to establish a warehouse and the project was paused due to typhoon. The risk impact the project work-plan as well as resources.
During the period of Covid-19, in order not to be all exposed and take the 14-day quarantine, a staff rotation schedule was established to cover the site during the period of the pandemic.
it wise to accept fate sometimes.
in my community am working on a project of jewellary making and art. l have tried to convince young people that you can make a living with this but family members rejected the offer. the Risk was rejection and the solution was persuasion but it still falls.
We were planting trees in a semi arid area and the risk was they would be eaten by goats but we still planted them
I faced a risk of time management, software are not finished in time and I have to expand project timeline and so I have to negotiate with donor and call volunteer to solve the problem.
@Zin ,thanks for sharing your point of view about project risk.
@Thet-5 ,thanks for sharing your point of view with us all.
@Dorinna ,goats can be a nuisance.What matters the most is that you've gone ahead & planted the trees for your project.
@Simbamadanhi ,you can bring a donkey to the well but you can't force it to drink.I only hope that your beneficiaries eventually understand the value you're adding to them.Have you spoken to the community leaders(religious/cultural/political/family) in the areas you've launched your project about your initiative?
@Carinesiakam ,staff rotation during the covid-19 pandemic is a brilliant idea.
I feel it's better to accept risks as soon as it is identified. Quick plans should be made to respond to identified risks so that problems will not arise in the course of implementation of the project
@Folapat ,your response is on point.Thank you for sharing it with us.
Any business that will thrive have to take calculated risks, that is must accept the risk but be sure that the impact the risk may come with is well accommodated. In the case of workshops during peak of election period for instance, it is best to defer the workshop than forge ahead with it as the risk of poor attendance becomes high
@Amuhle ,thanks for your brilliant answer.
Given the situation, it is appropriate to accept the risk level while the impact is low . Because it can not make significant changes the projected planned activities. For example, if the possibility of disturbance in accomplish the project on time, and the participation of targeted stakeholders is above medium level, it may fall under the category of the accept.
@ShobhakarB ,like you said,planned project activities will not be affected if the level of risk is very low.Thank you for your answer.
In every situation or business there exist risks and most business owners knows at one point there will be risk and it will be handled as it befalls if it is unknown at the time of the onset of the project/business. In our case we experienced a risks by starting to rent the landlord's premises without considering that he will change his mind to adopt the same business we ended up changing the location of the business on another property with a new set of agreement while accepting the risks we had foreseen.
Yes. Based on your argument on the level of risks it is worth he twist in decision.
no risk no business success. Sometimes how one navigates and over challenges the risk make the Manager or officer a competent and effective personnel.
continue on pursuing your goal of persuasion until they will one day accept. In marketing your ideas you have to also know there are risk in it and so, until you achieve, it will be an unsuccessful venture.
@531 ,your responses are much appreciated.Thanks for sharing them with us all.
We identified risk of NLC going on strike during a particular event we planned to have. We wanted to respond by postponing the event and by so doing avoid the risk of participants not coming for the event due to planned NLC action. But we eventually had to accept whatever comes out of it by still scheduling the meeting date. Eventually the NLC action did not happen, and the event took place successfully. But risk is a part of every business or project and helps the project manager to think and act outside their comfort zones.
When there was an outreach effort to enroll women in health services, there was always a risk that attendance would be low. But the risk was mitigated by careful selection of location, and promotion of the outreach using pamphlets, word of mouth, etc among already existing clients.
@FaithE ,its a relief to now that you eventually held a successful event regardless of the hardships you were bound to face.Thanks for sharing your opinion about project risk with us.
@VidhyaK ,I love the fact that you found ways for mitigating the risks that you were likely to face.
That was a good call
There was a time our field manager was offered a new job elsewhere, even when we tried to negotiate for her to stay, she had made up her mind. We just had to accept the risk.
There are risks that are unavoidable like unprecedented occurrences like pandemics, natural disasters. how you navigate through them depends on how ideally you have prepared yourself for them. in our culture we have a saying that states "what comes to you when you are aware of it, it does not steal much". Risks needs preparation and an efficient assessment to determine whether they are worthy acceptable or avoidable or mitigated. Any risk that should be accepted should be that that wont create regrets, or wont harm others.
@Tsitsi_Chitsike ,it must have been a very challenging & confusing time for you.
+How did you overcome the risk of a skills gap?
@mirembedan ,your insight on project risk is brilliant.Thanks for sharing your insightful point of view with us.
I think its feasible to accept the risks whose impact on the project is minimal inorder to avoid unnecessary constraints on the budget and also in scenarios where the risks that occur are out of our control.
thanks to get your experience
I feel it is safer to accep the risk if its probability of happening is below the average (50%, or less than 2.5 in our case).
Elections are coming next year here in Zambia and I really want to be very observant on how well the NGOs will operate around the associated risk.
@roselynenjoroge1 ,thanks for your insightful point of view on project risk.
@Wiza_ ,like you said:its better to accept risk if the probability of it happening is low.
@Papet your risk assessment view is mind Captivating as one cannot predict the outcome of any presidential election whether it being peaceful or chaotic.
Yes. So many times. There is a lot of political interference in our ctivities.
@GastoneP ,thank you so much for your answer.
Accepting risks is one of the fundamental issue to consider because the planning phase and implementation phase of any project are two parts of the same process and cant not be excepted being it economic, political, legal and regulatory, environmental and human resources risks, therefore effective manger must also be vigilant to avoid risk the will affect the project. Are you constantly looking for risk? Area you team members encourage to report any risk that they see, it is possible to anticipate every issue ahead of time. and prevent the risk in time. yes
I think it is okay to accept the risks if you don't have the chance to avoid or lessen it at the very least. It is also okay to accept the risks if they have less likely impacts to the project.
@AbubakarAlhassan ,thank you for sharing your point of view.
some one can accept a risk when it has low impact and also when it doesn't have any other alternative or when it needed very high costs.
@mohamedseed443 ,thank you for your answer.
@Wiza_ ,you're very welcome...
In my humble opinion, there are risks in everything we can do but the main thing is to prevent it. When designing a project, defining the risks you will be undertaking is ideal. And when there is a risk, you have to know how to assume it and continue.
A really impeccable and brilliant course which puts me in my knowledge and experience bath. I am proud to really feature in this platform because being, I have acquired an untold knowledge in the field of project management. I would like to thank Philantropy University for sharing and for the desire to share this knowledge with us.
i accept risks during my building of house last year 2019 in my home town, Zaria because i did not engage any expert or make a consultation to be properly guided in starting the building and end-transition of the project. i later discover that i build the house were is flooding during raining session. How i manage the situation and completely prevented from the water damage is by open culvert and proper fling sand to control the water passage through consultation with expert
@Simba1 ,thanks for your brilliant answer.
@Simba1 ,wow.Your satisfaction is our joy.Thank you for seeing great value in what you're learning from this course.
@AbubakarAlhassan ,thank you for sharing with us about project risk basing on your personal experience with it.
One time I accepted a risk was when one of the facilator arrived later . I accepted it because it was easy to make adjustment, on time of the workshop.
@fvjl2983 ,it is a relief that you could make a just few adjustments to your workshop.Thank you for sharing your response with us.
The project we am doing now is facing a risk of delay of supplies. we foresaw this but since its beyond our control, we have accepted the risk but closely monitoring
@ALLYNA ,with your situation,close monitoring is a great idea.
One time that I accepted a risk was to complete my last working day of my project. Unfortunately that day was announced as strike by opposition political party. I accepted it because I have to complete that project on that very same day. I discussed this matter with our local political friends to support us. I offer some gifts to them. On account of that I can finish my assigned work on that day.
@shinukjoy,thank you for sharing with us about your personal experience with project risk.What matters the most is that you improvised and found a solution to the difficult situation you were facing.
Every project comes with peculiar risks, which are sometimes usually visible at planning phase. Based on my experience, saying you won't handle them is saying you don't want to take on the project. However, based on the level of an organization, that organization can decide on what she is prepared and ready to handle. This will mean planning according to her capacity, which will accompany the ability to take on risks at that level. So, it's valid to admit projects you can't take on just yet since you must deal with all the components and actors of any project undertaken.
@leadoutirene ,thanks for sharing your point of view on project risk.
political risks actually rank among the top most risks which influence the operations of projects
in fact, the best way to choose how to respond to a risk is to use elimination method, where the most unlikely responses are discarded and the best among the remaining ones is selected...