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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.

I believe firmly that sometimes you just have to accept that some things are just out of your control and the only thing you can do is let go and step back and see what happens. This is when I think it's okay to accept risk.

I remember, at the beginning of our project, we listed no risks, especially with regard to the acquisition of essential drugs and materials for our project. Since we are inside, the purchases should be made in Kinshasa, we decided to transport them ourselves.

One time I accepted a risk was when we were starting a new project year and there was a possibility that funds for activities could come in late. There were trainings to be conducted on the project staff before they could start implementing certain project interventions, so I had to accept the risk of the delay in funds for the trainings. The delay of funds negatively affected the project implementation schedule.

One time I accepted the risk was reschedule the training for teachers because of their busy hours during the schools start opening season.

It’s indeed a true fact for sure

As per my opinion , When you know the potential risks for each project, you can create reasonable project objectives and keep the team on track.

As per my experience as a project manager, I would like to say that Risk acceptance is when the project team decides not to change the project management plan to deal with the risk or is unable to identify any other risk response strategies for a risk event.

True fact indeed

Yes I have had risk, however because the cost of mitigating it exceed the actual budget for the project I accepted the risk

Great and concise definition, thank you for sharing this

This are actually correlated,however I don't the risks should be the basis for setting objectives, because being realistic,means acknowledging that all the risks associated with a project can not even be fully identified

Thank you for sharing practical experience

It was a good decision to accept the risk.

One time I accepted a risk was when we where doing data collection for a baseline study. 2 participants out of 5000 participant for the study where leaving very far from our catchment area and we had already done 82% of data collection. So I accepted it because one of our target was to reach 80% data collection for us to do data analysis.

One time I accepted a risk was in a project to carry out a health day in a very poor neighborhood of the city. For this one we needed more than 150 volunteers who we were not sure could attend since it was a 9 hour day starting at 5 am and the place we were going to was almost 2 hours away from the meeting point. However, we decided to accept the risk and go ahead with the project, in the end we took 120 volunteers and we were able to offer health services to more than 300 elderly people, pregnant women and children. It was a wonderful experience.

Every projects have different types of risks depending on project feasibility.

Every projects have different types of risks depending on project feasibility.

Amazing module learn a lot

ne time that I accepted a risk was during country's general elections that I intended to conduct a workshop to adolescent girls and young women . I accepted it because it had less serious impact on the planned workshop.

One time that I accepted a risk was during country's general elections that I intended to conduct a workshop to adolescent girls and young women . I accepted it because it had less serious impact on the planned workshop.

I think it is ok to accept risk with the reward or outcome helps the overall project succeed at a higher level.

A risk that our team has accepted is the change in our administration. Our president has announced their retirement and a new president has been selected. There is little we can do here. We have approval for the project and in meeting with the new president we have support to continue our project, contingent on securing outside funding.

It sounds like your team did a great job recognizing the risks and how to respond; setting realistic goals so that the project would not fall behind as well.

exactly ,elections during a particular project stops the project for some time,hence is a risk that should be accepted

One time i accepted a lisk of no attending Job training , The main reason was that i wanted to attend District meeting of partners. I addressed the issue to my boss and told me to priotize where i earn money and knoweldge.

One time that I accepted a risk was when we counter the risk of COVID-19 we accepted it because as per the direction of the Goverment/WHO and to reduce the risk of spreading of covid-19 to other students and teachers, we move and introduce online teaching and courses which was successful and we deliver the best student and there parent contribute alot for there success.

One time that I accepted a risk was delivering informal apprenticeship skills training to youth . I accepted it because we were using master-craft or trade persons who organically had different levels of experience and exposure within the sectors and trade areas as facilitator.

We can only accept a risk when the impact it has on our project has a score of less than 2 and the team guiding on the impact vs likelihood scores should have carried out thorough research.

I have a question, Can a risk characterised as an 'Accept' initially be later upgraded to a mitigate as the situation may demand after monitoring? I am thinking here of the materials example, if not delivered, they can really scupper the workshops. In fact, that may prevent workshops rom happening. So at what point does an accept change status to a mitigate or avoid, but still ensure enough time for corrective measures to be applied?

Recently, our project accepted the risk of travelling to far-flung project sites for the purpose of monitoring during the monsoon season when travelling was very risky as project's deadline was approaching. I am glad that we did because we tried to finish the project on time and also found out about the challenges faced by project grant recipients during the monsoon season. Due to the bad road conditions during the rainy season, they were not able to transport supplies or do any sort of marketing.

One time I accepted a risk on a project schedule. I accepted it because my director already agreed with client to finish the project based on the given schedule & i need to expedite the work.

I do think in some cases a certain level of risk is okay to accept and perhaps necessary.

Many times risks are unavoidable and the most logical response to this might be to accept them. One time while working with Aiiburtel NG, our organization was working on an e-commerce platform as a component of our project and needed people to sign up. one of the major risks that had the greatest impact on our project outcome was that members of our target population might not agree to sign up, because our organization was relatively new.
We tried all we could to eliminate this risk, with different approaches but it remained. We decided to accept it, we widened our target population so that the results would not affect our outcome to a large extent. we had more people to ask to join, that way we had more positive respondents.

Many times risks are unavoidable and the most logical response to this might be to accept them. One time while working with Aiiburtel NG, our organization was working on an e-commerce platform as a component of our project and needed people to sign up. one of the major risks that had the greatest impact on our project outcome was that members of our target population might not agree to sign up, because our organization was relatively new.
We tried all we could to eliminate this risk, with different approaches but it remained. We decided to accept it, we widened our target population so that the results would not affect our outcome to a large extent. we had more people to ask to join, that way we had more positive respondents.

One time that I accepted a risk was related with the environment, when students was not able to go to their studies because of cold weather and snowing

I have had to accept the risk of staff quitting to get bigger jobs with INGOs while my organisation is constrained to hire new staff. We have had to share schedules among available staff and better focus our interventions in areas of our comparative advantage. We no longer do so much of everything with the renewed focus. We have lesser scope and more indepth interventions.

I once accepted a risk on a road project i was supervising, time was not on our side but the heavy rains were not helping either and nothing could be done except wait for the rains to stop. The only way out was to ask for extension but extension of time was not part of the awarded contract.

I some time accept risk that is beyond my limit when it doesn't have negative consequence in the project i manage. I accepted it because it out of my control.

Once, I accepted a risk, it was during a project that asked LGBTQI + to attend a training session organized in key departments of the country.... I did it because all the participants lived 50 km respectively from the training sites and that he would not have enough difficulty in moving around.

There is an estimate of risks in every part of the Business, so we should have a proper plan and probability with us in order to be ready for the next possible risk.

There is an estimate of risks in every part of the Business, so we should have a proper plan and probability with us in order to be ready for the next possible risk.

To solution of not allowing the young women in workshops by the families this is that good way to circulate information to families before Workshops begin

Accepting a risks in a project is Common and we have to make a proper plan for it to avoid a risk in future

One time I accepted a risk on a project survey was delay due to means of transportation all the people resided in community I had to face a risk and accept it.

Some times you can take a risk ,sometimes in positive way or negative to success

Accepting risks is an integral part of any successful project or business. There will always be risks involved in any venture, whether small or large. However, it is important to understand that not all risks are equal and therefore should not be treated in the same way.

There are some risks that can be easily managed or even avoided altogether. For example, careful planning, early identification of potential issues, and effective mitigation measures can help reduce the likelihood and impact of certain risks. However, other risks may be more difficult to manage and may require a greater tolerance for risk.

Accepting risks can be beneficial in some situations. If a risk has a low likelihood of occurring and a relatively low impact, it may be better to accept the risk and proceed with the project. In some cases, taking calculated risks can lead to unexpected opportunities and significant benefits.

However, it is important to note that accepting risks does not mean simply ignoring them or avoiding risk planning and mitigation. It is important to carefully assess each risk and make informed decisions about how to manage them. It is also important to be prepared to take contingency measures in case accepted risks become real problems.

In summary, accepting risks is an integral part of any successful project or business. However, it is important to make informed decisions about how to manage risks and be prepared to take contingency measures in case accepted risks become real problems.

We currently have similar risk situation in my organization. the coming presidential elections is around the corner, because of the civil unrest that mostly comes with elections, we decided to shift a training we were supposed to have to three weeks after the election. this will give us time to study the atmosphere and decide best location to carry out our training. this is the mitigation strategy we employed.

Accepting RIsks is a necessary step to overcoming personal boundaries and to progress through personal development.
Passing our comfort zone is the way we can grow as positive individuals

Accepting RIsks is a necessary step to overcoming personal boundaries and to progress through personal development.
Passing our comfort zone is the way we can grow as positive individuals

Thats a great point

That is good to be know how to Response and Account and Consulted and informed to assign for the tasks

One time I accepted a risk was when I planned and confirmed a field trip for stakeholder consultation meetings without some of the stakeholders confirming their attendance.

From my point of view, it is acceptable to accept risks, when they are calculated and controlled, they can have a small impact inside the project or the people who work there.

accept risks is the best way to monitor them and ensure effective solutions.

upcoming presidential election always have a negative impact in any project. so the project team should always try to make great effort how to avoid it

One time I accept risk was when I bought provisions paid a house rent nd resumed school in the high institution without given an admission, but with the hope that my name will be out in the third list…

I think generally it is okay to accept risks in either of the 2 scenarios;

1. When there is no major difference or pertinent variation in project deliverables/goal due to the identified risk. The occurrence of the specific risk does not significantly affect the outcome of the project.
2. When the risk requires relatively large resource to mitigate or avoid in proportion to its impact.

One time we wanted to drill a borehole in a community, and the procurement process took longer than expected the raining season came and the Community became inaccessible, the Contractor could not get into the community and the project was also coming to an end, so we accepted the risk and had a different intervention that is not time consuming in the community after the season.

In construction projects, permitting and city sign-offs are usually the most risk on completion time frames as you are at the mercy of multiple city building inspectors, fire dept. etc. I usually do a FMEA plan (same as this activity) to attempt to assess, mitigate, and plan for these types of delays.

I have not been able to personally accept a risk, but I have worked under some project which were faced with a risk with Procurement delays in supplying items for a project, and the Project manager had to accept the risk as well as looking for alternative suppliers (local) in the neighbourhood

Thanks for sharing

one time i accepted a risk on project was apolitical war. I accepted it because political intervention of the presidental election of somalia.

Accepting risks and determining how to deal with them are among the most important factors for the success of the project, which may be avoided, minimized or accepted.

Sometimes risk are inevitable and cannot be managed, so accepting it would be the best course of action, however, they shouldn’t be of high impact to the project

accepting risks, it it better not repeat it self

i think that was a good call, like you said the fund would eventually be released. It's a kind of risk you have to take on.

Risks are inevitable. It is crucial for every project to identify risks in order to identify which response is appropriate to each identified risk such as accepting it especially if it is a low-priority. This way, project manager and implementers may have foresight of the possible obstacles and bottlenecks they may encounter along the way.

One time that I accepted a risk was when our major fundraising event was derailed due to Covid still not being resolved by our October 2021 planned date for the event. I accepted it because this environmental risk was beyond my control, and we had a group of donor stakeholders who wanted to run the event regardless of Covid. I monitored the risk of a major Covid outbreak in our city during the fall. I created a Covid outbreak prediction tool, inputting the data I had from public sources at that time, and by August 2021, I had determined that the risk of having our event in person was too great. We would generate an outbreak. So I had prepared in advance that if this took place, we would mitigate the risk by transitioning the event to a fully online event, and had videotaped all of our speakers and prepared to knit all of these speeches and stories together into a 30-minute video if necessary. I had also prepared that if we had to cancel, we would not be held to a contract with the venue itself, saving money. As it turned out, my Covid prediction tool was entirely accurate, and Covid cases peaked in my city during the week of the October 2021 event.We had to cancel, shifted all of the event to virtual, and still made money although not as much as we would have in-person. Doing this mitigation satisfied our stakeholders, saved our reputation as a charity that would not endanger vulnerable people to make money, and ensured that when we did host our event in-person in 2022, we made more money than ever before!

Yes, I agree that low-priority risks are best, but sometimes you have to run a project in the face of a high-priority risk. You have to get creative about mitigation in those cases.

my project is built a water station on a far village and in the middle of supply the construction materials un unexpected fall and the street closed to the village so we had to stop supplying for 5 days.

the suppliers most excuse for delay on most of project I worked in is the bad road.

I have accepted risks of scheduling delays, on many projects, when I am confident that the end date will be pushed out by another party. Unfortunately the accepted risks that end up not happening, are easily forgotten

My thought on accepting the risk is when i had requested for funds to do a familiarisation tour, the request was approved and authorised, but because we are a grant aided institution, such funds can only be released when the grant is received from the ministry. In that case i had to choose to wait and monitor.