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One time that I accepted a risk was unavoidable, but it was a high risk. I accepted it because we were all in COVID. I have just started the Uber business purchased 4 cars, now I had to ground the four cars, but the bank expected the repayments to continue, and I was not able to meet my financial obligations due to this unforeseen risk. I eventually sold all the cars and used all my savings to pay the amount outstanding to the bank, closed the business

One time that I accepted a risk was unavoidable, but it was a high risk. I accepted it because we were all in COVID. I have just started the Uber business purchased 4 cars, now I had to ground the four cars, but the bank expected the repayments to continue, and I was not able to meet my financial obligations due to this unforeseen risk. I eventually sold all the cars and used all my savings to pay the amount outstanding to the bank, closed the business

One time I accepted a risk was when we were going to have skewed regional representation for case study participation. We monitored the situation by implementing the protocol that was designed to have total enumeration sampling.

@vagafufagu41 said in Module 3 Discussion: Accepting Risks:

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.

Definitely the funds would have been disbursed. I relate well with this, as a team in the project we were rolling out, we had to accept the fund's delay risk but later they were disbursed and the project continued smoothly. It was a good move.

One time we accepted a risk was a funds delay risk. There was a delay in disbursing the funds for the project we were rolling out. We accepted the risk and chose to monitor it. The funds were later disbursed and the project went on smoothly.

Accepting risks is a strategic decision made when the potential benefits outweigh the potential negative impacts or when mitigation efforts are deemed impractical or cost-prohibitive. Here are some scenarios where accepting risks might be justifiable:

Strategic Opportunities: When taking a calculated risk presents a significant strategic opportunity for growth or innovation. For example, launching a new product with some uncertainties about market reception but with the potential for substantial market penetration.

Time Constraints: In situations where there's limited time available to implement risk mitigation measures, accepting certain risks might be necessary to meet project deadlines. For instance, proceeding with a project launch despite identified operational risks due to time constraints.

Cost-Benefit Analysis: When the cost of mitigating a risk exceeds the potential impact of the risk itself. For instance, investing in additional security measures to mitigate a low-probability security threat that might have a minimal impact on the project.

Industry Norms: In some industries or contexts, certain risks might be inherent or acceptable within standard practices. For instance, financial investments often carry inherent market risks that investors accept as part of the investment landscape.

As for examples of identified risks that were chosen to be accepted:

Software Release with Known Minor Bugs: In software development, when facing tight deadlines, teams might accept the risk of releasing software with minor bugs that are not critical to the core functionality, opting to fix them in subsequent updates.

Market Uncertainty in Product Launch: A company might decide to launch a new product despite uncertainties about market demand, acknowledging the risk but believing in the product's potential success based on market research and initial feedback.

Operational Dependencies: Businesses might accept the risk of operational dependencies on single suppliers or vendors due to limited alternatives or high switching costs, recognizing the risk but continuing operations due to other strategic benefits.

Accepting risks is a strategic choice that requires a careful assessment of potential consequences, weighing them against potential gains or mitigation costs. It's crucial to document and communicate these decisions within the organization to ensure transparency and informed decision-making.

I accepted a risk when I participated on project implementation without getting advance payment from client, becuase on that time we cannot provide others outcomes from different sources, so we are faced to use our internal funds and accelerate the work to minmize that periode

One time I accepted a risk was when I transported my parcel through a non-licensed courier, I accepted because I knew the person but I still monitored its movement until it reached its destination

One time that I accepted a risk was when we could not put safety railing on the third-floor balcony. I accepted it because it is a historical building, and policy determines that you cannot make such modification.

Could you potentially ask for a deposit so that not all of the cost comes from you?

One time, due to push from upper management, I accepted the risk of hiring a new consultant who was not part of the original project proponent team. I decided to spend my energy making the project work with this consultant rather than fighting management to the delay of project start.

One time I accepted a risk, due to push of upper management, to hire a new consultant who was not part of the project proponent team. I accepted the risk because I wanted to spend more time making the project work with the new consultant rather than delaying the start by fighting with the decision.

Our Organization Accepts risks when the cost Implications related to Mitigating the Risk are too Expensive Or Difficult to deal with.In most cases we do a Cost Benefit Analysis Associated with the risk and when the Cost Outweighs the Benefit we result in doing nothing about the risk or in other words accepting the risk .

One time that I accepted a risk was during a project to provide clean water and shelter to IDPs in Rakhine State. We had identified a potential risk of security threats due to the ongoing conflict in the area. However, after careful consideration and consultation with our team, we decided to move forward with the project.

We chose to accept the risk because the need for clean water and shelter for the IDPs was urgent and critical. The conflict had already caused immense suffering to the displaced population, and we could not delay the project any further. We also had a comprehensive security plan in place, including regular communication with local authorities and implementing strict safety protocols for our team.

In the end, the project was a success, and we were able to provide much-needed assistance to the IDPs. Looking back, I believe that accepting the risk was the right decision. We were able to mitigate the potential threats and the impact of our work was far greater than the risk we took.

My advice to others facing a similar situation would be to carefully weigh the potential consequences of the risk against the potential benefits. It is also important to have a solid plan in place to mitigate the risk and constantly monitor the situation to reassess if necessary. Ultimately, the decision to accept a risk should be made with the best interest of those in need in mind.

One time that I accepted a risk was political. I accepted it because I have an alternative option to reschedule the training.

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.

As a matter of semantics, all legitimate risks should be accepted as this does not preclude their being mitigated or avoided. We must accept the fact that risks being what they are, even if they have low likelihood or low impact based on our assessments, it would be beyond our control if something catastrophic happens regarding that risk. In which case, the course of action would be to accept - to continue monitoring that risk, and to adjust accordingly. The adjustments are ideally pre-planned based on contingencies.

Sometime ago, I had to take a risk as a school administrator by hiring more staff than we needed because there was an approved project from an NGO to take more vulnerable students from the streets for our system to absorb. At the beginning of the school year, qualified teachers are sorted and recruited, while others find their way into other school systems. This project was scheduled to start in the second quarter of the academic year, which make it difficult to recruit qualified teacher during that time. So I had to take the risk to do early recruitment

Once I accepted a risk was while I was leading a borehole rehabilitation project for populations where there was a risk of lack of total involvement of the populations in the maintenance of the boreholes. I accepted it because the score for this risk was low.

Am Chrisham

From Cameroon

Example response: One time that I accepted a risk was during a software development project. We identified a risk that there might be delays in obtaining necessary hardware components for the project. Despite the potential impact on project timelines, we decided to accept this risk.

We chose to accept the risk because the hardware components were critical for the project's success, and finding alternative sources or waiting for availability would have further delayed the project. We assessed the likelihood of the risk occurring and the potential consequences, and determined that the overall impact was manageable within the project's constraints.

Advice and feedback:

• It's important to clearly explain the rationale behind accepting the risk. In this response, the reason for accepting the risk was provided, which helps others understand the decision-making process.
• When discussing the decision to accept a risk, it can be helpful to mention any risk mitigation measures or contingency plans that were put in place to minimize the impact if the risk were to occur.
• Consider elaborating on the risk assessment process. How was the likelihood and impact of the risk evaluated? Did you involve relevant stakeholders or use specific techniques or tools?
• When providing feedback on peers' responses, you can acknowledge the valid reasons for accepting risks but also consider asking questions to further explore their decision-making process or suggesting alternative strategies for risk management.

Overall, the response provides a good starting point by sharing an example of accepting a risk and explaining the rationale behind it. It demonstrates the importance of evaluating risks within the context of the project's objectives and constraints.

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.

You accept a risk when you have no choice but to find an immediate solution. By way of example, I'll give the example of the project to improve the sexual and reproductive health of adolescent girls in rural areas. As part of this project, it was planned to open a specialised health centre to look after teenage girls. The project had been accepted, particularly for the counselling component, but the sessions were to take place outside the health centre. A solution was found for this risk. The fear is that this would contribute to teenage girls developing risky sexual behaviour if they knew that it was easy to obtain free care. We decided not to find a solution to this risk for fear that the leaders and the community would decide not to participate in the project. But that didn't stop us from monitoring this risk until the stakeholders changed their attitude.

Presidential electrons sometimes are difficult to mitigate it's impact, but it is the only way I think we can do to contain the situation. On the other hand, thorough planning of the workshops and timely sensitization about the workshops will help convey important information to the families beforehand so that they can consent easily by sending their young women to attend the meetings, I believe by doing this we can reduce the impact of this issue to perhaps 2 out of 5 rating system

I recall a time when I was involved in a project to streamline the distribution process for scientific equipment. It was a daunting task, fraught with potential complications and setbacks. However, the potential for increased efficiency and reduced costs was too compelling to ignore. Despite the uncertainties, I chose to accept the risk and forge ahead with the project. The result was a significant improvement in the distribution process, ultimately demonstrating the value of calculated risk-taking.

Accepting a risk is warranted when the costs for mitigation outweigh potential damage, the impact is minimal, and/or resource constraints are manageable. At my work, we once committed to a project with uncertain funding timing after signing a contract. Despite the risk, we proceeded because the deal was confirmed and funds were assured. Although we faced a two-month wait, the funds were eventually received.

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.

the right time to accept a risk is when the risk is not that serious. for instance, in every project we have a contingency plan that help us to cover for any uncertainty, so when this uncertainty occurs its easy to move forward with the project because the contingency ensures that the project should move according to the plan.

One time I accepted a risk when the project resources we had were not sufficient. I did so because the allotted time for delivery was limited, and any further delay would have hampered successful completion. We proceeded with the limited resources, relying on the possibility of later finding additional support. Fortunately, the remaining resources became available to us. We were conducting feasibility study and detailed engineering design for the upgrading of a certain road in the Northern Region of Malawi: Environmental and Social Impact Assessment (ESIA) and Resettlement Action Plan (ARAP).

One time I accepted a major risk at some project. The project was to deliver agricultural materials to the framers and the project site was near war front. I have followed my instincts; I knew for sure nothing would happen to me and there is nothing to do either I hand over the materials or withdraw.

Some risks are least priorable, that has no impact on project basically. So we accept some risks to avoid the risks.

There was a time when the project's scope expanded beyond its initial boundaries, leading to increased costs, time delays, and resource constraints it was a very tough time for me

One time a risk i accepted was diary production improvement collaborated project and shortage of budget becouse of delay in approval. I accept it becouse it was in the middle of the startup so try to mitigate by reducing the scale.

One time that I accepted risk was when I was creating a website for my barbers haircut booking and had to deal with codes not running through before the deadline which was June 1st. I accepted it because this was to come with complicated coding and having a one month deadline for the website to be released.

One time that i accepted a risk i thought i could handle it in future and it will be avoided but to no avail. At the end the risk was being monitored because it couldnt be avoided for that projects. Risks are like unforseen circumstamces that can be an obstacle if not addressed properly

@Esu2 said in Module 3 Discussion: Accepting Risks:

One time a risk i accepted was diary production improvement collaborated project and shortage of budget becouse of delay in approval. I accept it becouse it was in the middle of the startup so try to mitigate by reducing the scale.

i believe that sometimes mitigating can be a good option for risks

Sometimes it is too difficult in our country to identify the risks, because the risks can happen at a very brisk speed, but we need to be proactive for all these kind of risks to identify and mitigate it in a way that can decrease the likelihood of the risk.

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.

one time that I accepted a risk was the inaccessibility of some organizations directors for our meetings. I accepted it because it has a low impact on project objectives and is unlikely to occur and even if it occur we can have opportunity to for their higher officials and invite them.

One time i accepted risk was the Market Risk: i identified the risk of low patient demand for eye care services due to limited awareness or cultural beliefs. However, after conducting market research and considering the cost and effort required to increase awareness, it was to accept this risk. The team determined that the existing community outreach and education efforts, combined with word-of-mouth promotion, will gradually increase awareness and overcome initial barriers

I would accept the political risk of unrest during the presidential elections because it's unavoidable and can't be transferred but mitigation can be made. However the cost of the mitigation the mitigation is high compared while the probability of it occurring is low. Then mitigation can be done during the early stages of the unrest.

One risk I accepted during a project implementation was delay in disbursement of funds. I accepted it since the funds were already approved and will eventually be released. this in turn widen the scope of the project.

Accept risk but do not try to spend resources to avoid. That's the headline. This is because the we are dealing with probabilities here so when you try to use resources to avoid it, it may happen that the risk may not happen at all. But you can respond to it by mitigating at least

Hello Papet, my organization has also had to accept the risk of protests or nation-wide delays during an election. These events can have an impact on our ability to provide in-class trainings and data collection if schools are temporarily closed for safety reasons, or if there are certain strikes during the school year.

One time that I accepted a risk was when i hosted an activity and there was no participation. I accepted it because i had mobilized more people.

One time that we accepted a risk was during a software project where we were supposed to identified a potential delay due to a shortage of skilled and resources in a particular technology stack. Despite recognizing this risk early on, we decided to accept it rather than invest significant time and resources in training or hiring additional personnel.

Risks are inevitable in any project. It's best to always plan for this as they teach us how to solve unforeseen problems. Whatever mechanism put in place, we need be vigilant at the embryo of our projects. This will have us in the position to manage it where possible.

It is okay to accept risks when its potential outcomes have minimal insignificant impact project budget and time scheduled. I had to accept the delay of course materials for an English survey to a village by a day having known that the rains in the area normally occur at night and being an semi arid area the roads would have dried by daytime.

Risks that you have no control over. For example, I anticipate the risk of a change of government, though I am not assure. I just have to monitor the situation

I set a target for a project beneficiary, the risk I anticipate was low turnout. I was willing to accept it because the target itself was a flexible one (+/-) and the risk level also turned insignificant.

Accepting Risks involves acknowledging and understanding the potential negative outcomes or uncertainties associated with a particular action, decision, or situation, and consciously choosing to proceed despite those risks.
Even when risks are accepted, it doesn't mean they're ignored. In many cases, steps are taken to mitigate the impact or likelihood of negative outcomes. This might include implementing safety measures, contingency plans, or risk management strategies.
Once the decision is made to accept risks, it's important to continuously monitor the situation and review the decision as circumstances change. This ensures that risks remain acceptable and that appropriate actions are taken if new information or developments arise.

As conclusion, Accepting risks is often a balancing act between the potential benefits and drawbacks of a particular course of action. It requires careful consideration, weighing the potential rewards against the potential losses or harm

I'm living in haiti. Projects in my country are full of risks. Some places have more in one category than others. In the capital the security risks are higher than provinces. In some provinces accessibility to difficult zones are higher. in some period of the year the metheorology is difficult. adding to that We are living in permanent political turmoil.

One time that I accepted a risk was when there was a chance our project's physical marketing materials would not arrive in time for the project launch (4 days time) as it was within the delivery window (2-5 days). Usually things deliver on time from this company.