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@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...
another way of handling the delay of funds is to use those resources you would have saved from line costs
risks also help identify areas in which a project implementer may need to improve upon for future projects
how much room does also considering assumptions under risk management hold?
risk management is very important so that all project constraints; schedule, budget and scope are well managed
between the likelihood and the impact of a risk, which one must be carefully monitored, even if the risk value is what is used for the choice of the response to an identified risk?
Risk identification, assessment, response and monitoring are vital processes that deserves special attention.
In my organization, we are working in insecurty areas with armed group. We decided to accept it because we didn't have another solution.
@Josimp ,I agree with your point of view.Political instability negatively affects the progress & direction of any project.
@Josimp ,thanks for your answer.I am also commending you for actively participating in our course discussion forum.
@SeydouDoumbia ,thanks for sharing your own experience with project risk.
@Alameenbichi ,I totally agree with you.
identifying the risks of the project is very important on project implementation. so it the crucial part of project to analyze the risks.
thank you.
To me, as a project manager analyst, taking risk is part of project management. These risks are the challenges, unexpected occurrences and strange phenomena that often characterize project management.
So having forseen certain challenges, a project manager should be able to address these issues with boldness and not timidity. Systematically applying different precautions will let no challenges to have a negative effect on the success of the project but rather a positive one.
A good instance is during the time of the coronavirus pandemic. As a project manager to spearhead a particular project (empowerment of women on fishry as a source of income) in the pre-Covid era, how will you succeed in this having caught up will the pandemic?
I don't think you need to wait till Post-Covid era for you to know what precautions to take. All that you need to do is to weigh the challenges and address them to fit in the present situation.
In the instances when risks have to be accepted mostly they come in compulsory situations. key worker might want to work in different projects that afford to pay higher, there may be shortages in resource supply in the market, and so on.
It all depends on the versatility of the plan itself to accommodate any humps along the course of the undertaking.
A well thought plan allows some degree of discrepancies.
@Kabul ,thanks for your thoughtful answer.
@SintayehuGetachew2020 ,thanks for sharing these brilliant statements with us.
@Sir_Johnson_De_Great ,thanks for sharing your insightful point of view with us.
For us living in Nigeria, risks are part of our daily lives. We accept them whether knowinly or otherwise. While enrolling in a university in Nigeria, it is important you note that strikes are part of the system. For instance, the universities in Nigeria have been on strike for over eight months now. Many students were already writing their exams while other were preparing to start, but the strike came and we have accepted it.
That is the point Sir.
This I love its perfect
Alright @DCUN ..
Alright @pomboloka ..
One time that I accepted a risk was when I have delay on project funding; I have to accept because I new it has been approved already.
@msuwaneh55 ,thanks for sharing your experience with project risk.
Exactly! You are on point.
Alright @Sir_Johnson_De_Great ....
Even when you are mitigating a risk, there is often still an element of acceptance. Eg. One time I mitigated a risk at the end of a project by providing comprehensive handover notes, sharing my contact information, and following up. But I still had to accept the risk that the project would not be continued. I accepted the risk because I had used all the limited resources I had available to me already.
@hollycoulter ,thanks for expressing your point of view on project risk.
Once I accepted a risk, it was the heavy rains that slowed the distribution of the measles vaccine. we have agreed to rent the canoes because without his vaccines the human damage would have been more serious.
@jtshibangu23 ,weather changes can negatively affect the trajectory and progress of any project.I love the fact that you found a solution for the risk that you had at hand.
I like the fact that some risks are too big to be avoided rather mitigated
@DAVID-JR2082 ,thanks for expressing your point of view on project risk.
many times in life we face risks without even noticing it, e.g hunger to some extent it is something that can be prevented by proper planning stocking of food despite the fact that others are less privileged . they is what we call value products if one can not afford to buy premium brands they can go with basic products...
One time that I accepted a risk was high air temperature when storing fruits. I accepted it because I have good refrigerators .
Accepting risks require keen attention, other than that it may go of hand and even worsen situation.
When does one accept risks? this an important question right? The overall risks potential of the risk(s) to be accepted must be far less the probability of creating any alarming situation that might be difficult to justify.
Before categorizing any potential risk being identified into accept, be sure to vet each properly. don't assume!