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The Concept of Positive

Risk
Group 5

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WHAT IS RISK?

A risk in project management is any unexpected event that could

occur and impact your project. Risks can affect any area of your
project, including your people, processes, technology, and
resources.

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WHAT IS POSITIVE RISK?

A positive risk is any condition, event, occurrence, or situation

that provides a possible positive impact for a project or
enterprise. Because it’s not all negative, taking a risk can also
have rewards. It can positively affect your project and its
objectives.

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CONCEPT OF POSITIVE RISK

Project Management – every project manager defines a budget,

Miscalculating the project's costs is a risk, but managing it well
have a positive outcome.

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CONCEPT OF POSITIVE RISK

Technology – risk of data leakage and vulnerability to system

attacks is a negative risk. But saving on wages, processing
advances and fast pace operation offers much of a positive
result.

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CONCEPT OF POSITIVE RISK

Development – whenever launching a new product, the company

takes a risk. It can either be a miss or hit. But when a new
product attracts too much attention, it's a positive risk.

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CONCEPT OF POSITIVE RISK

Supply Chain – delivering a service or goods ahead of schedule,

demonstrates a positive risk.

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CONCEPT OF POSITIVE RISK

Assets & Investments– - if they construct a building to last 20

years but end up using it for 30, the company or organization
benefits from this risk.

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Tips for managing positive risks.

• Work with your team to brainstorm and identify potential

positive events that will help your project.

• Assess each risk, including how likely it is to happen and its

potential impact. 

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Tips for managing positive risks.

• Create a log or register of all positive risks so you can track

them.

• Determine your team’s risk tolerance. How much risk are you
willing to actively pursue vs. just accept? 

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Tips for managing positive risks.

• Note in your log which risks will be exploited, shared,

enhanced, and accepted. 

• Create action items and assign people responsible for

monitoring or handling each risk. 

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Tips for managing positive risks.

• Identify what signs might indicate that a positive risk event is

about to take place. 

• Continually monitor the status of the risk and the action plan
for responding to it. Make updates to your plan as needed

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POSITIVE RISK is essential:

1. It contributes to project success through proactive strategizing and
planning.
2. It helps team members recognize uncertainty and forecast possible
outcomes.
3. Your employees will make more informed decisions and create better
business results.
4. Your team members will be innovative and creative. Positive risk-taking
enables better control, saves time and money, reduces waste while
providing greater benefits realization.
5. Eventually, it encourages better communication with senior management
about project progress and challenges the project has to overcome.
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THE END.

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