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Risk Management---- particularly the upside of risk (opportunity)

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Valerie Denney Associate Professor| Embry-Riddle Aeronautical University- Worldwide Cleveland, Sc, United States
I have been doing some research on Risk Management and particularly opportunity management. What are the best tools/techniques that you have found for opportunity identification that are distinct/different from those used for threat identification? I would like to connect and discuss. Please add to the discussion below.

I am particularly interested in those who are lean/ six sigma belts
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Kiron Bondale Retired | Mentor| Retired Welland, Ontario, Canada
Valerie -

Checklists are a really good tool for opportunities as they force the team to think of potential upsides which they might have otherwise discounted. Assumptions analysis is another good one - if the team is making a pessimistic assumption, it's a good idea to ask them, what would happen if things turned out better than expected - how could we exploit that?

Kiron
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1 reply by Valerie Denney
Aug 30, 2018 4:48 PM
Valerie Denney
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I would love to see any opportunity checklists that you use!
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Valerie Denney Associate Professor| Embry-Riddle Aeronautical University- Worldwide Cleveland, Sc, United States
Aug 30, 2018 4:08 PM
Replying to Kiron Bondale
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Valerie -

Checklists are a really good tool for opportunities as they force the team to think of potential upsides which they might have otherwise discounted. Assumptions analysis is another good one - if the team is making a pessimistic assumption, it's a good idea to ask them, what would happen if things turned out better than expected - how could we exploit that?

Kiron
I would love to see any opportunity checklists that you use!
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Sante Delle-Vergini, PhD Senior Project Manager| Infosys Melbourne, Victoria, Australia
Often SWOT analysis so you can contrast threats, strengths and weaknesses.
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1 reply by Valerie Denney
Aug 30, 2018 5:51 PM
Valerie Denney
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Thanks Sante, Do you are particular methodology you use for SWOT, or just use a form with those headings and brainstorm?
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Valerie Denney Associate Professor| Embry-Riddle Aeronautical University- Worldwide Cleveland, Sc, United States
Aug 30, 2018 5:35 PM
Replying to Sante Delle-Vergini, PhD
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Often SWOT analysis so you can contrast threats, strengths and weaknesses.
Thanks Sante, Do you are particular methodology you use for SWOT, or just use a form with those headings and brainstorm?
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1 reply by Sante Delle-Vergini, PhD
Aug 30, 2018 6:05 PM
Sante Delle-Vergini, PhD
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Yes pretty much Valerie. Regarding opportunities, some things to include in the analysis are market trends, target audience, regulations, funding support, opportunity sponsor etc. to see if these have or will change when realizing the opportunity.
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Sante Delle-Vergini, PhD Senior Project Manager| Infosys Melbourne, Victoria, Australia
Aug 30, 2018 5:51 PM
Replying to Valerie Denney
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Thanks Sante, Do you are particular methodology you use for SWOT, or just use a form with those headings and brainstorm?
Yes pretty much Valerie. Regarding opportunities, some things to include in the analysis are market trends, target audience, regulations, funding support, opportunity sponsor etc. to see if these have or will change when realizing the opportunity.
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Sergio Luis Conte Helping to create solutions for everyone| Worldwide based Organizations Buenos Aires, Argentina
We use the same tools for both. When an initiative is started (before a project exists) we use PESTLE analysis and Porter“s Five Forces to understand the environment.

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