How many of us are really make use of Positive risks in their project? Saving Changes...
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Josh NankivelEngineering Project Manager| AppleSioux Falls, Sd, United States
Very few. I work on a very large project and have run into resistance trying to word what was really a positive risk, an opportunity as such. People tend to only want to talk about negative things with risks.
For instance, when we had an opportunity to save money, the risk came out by default worded as a risk of losing money. It's all a matter of perspective, people figured there must be a loss involved so they started assuming we hadn't already planned on spending this money.
Mir AlikhanProject Manager| ChangementKaty, Tx, United States
Although most don't document it - we are all think it. Positive risks are very important in consulting environments. Saving Changes...
Mir AlikhanProject Manager| ChangementKaty, Tx, United States
Youare right. Negative risks is a potential impact on the bottom line - it's a matter of perception. Only if you are on the defense mind set, will this truly be critical to the organization. Saving Changes...
In a project, positive slack gives rise to positive risk. If a PM can identify positive slack, then he has an option to reduce the cost of the project.
Best Regards,
Vivekanandan M Saving Changes...
Josh NankivelEngineering Project Manager| AppleSioux Falls, Sd, United States
Vivekanandan, I would add that the availability of schedule slack alone won't make for an opportunity/positive risk that can be acted upon. There must be some kind of possible but unrealized event that may occur, something that the PM can act on and try to enhance the probability of it happening. What do you think about my statement here?
>> I would add that the availability of schedule slack alone won't
>> make for an opportunity/positive risk that can be acted upon.
When there is a positive slack, the project can be completed ahead of the schedule. There are so many benefits, if you complete the project ahead of schedule!
Following are some factors that contribute to positive risks,
a) Technology - If the team employs some IPs or automated tools to speed up their project execution!
b) Resource - If the project team gets a highly skilled resource (who takes only 50% of time taken by normal resource) at cheaper cost.
c) Better Planning - Identifying positive slacks.
Best Regards,
Vivekanandan M Saving Changes...
Josh NankivelEngineering Project Manager| AppleSioux Falls, Sd, United States
I see what you are saying Vivekanandan, but formulate your risk/opportunity statement in the standard syntax and tell me what you would do as a plan to enhance/exploit it. My guess is that there will be a root-level cause you should formulate it against instead of the symptom (slack).
[risk context]
Given [condition]
there is a possibility [risk event]
resulting in [impact]
I have come across very few positive risks, I think that is the nature of projects where scope is tightly controlled. Deliver early and save moeny is one such positive risk however, the possibility of finishing early is only a positive risk if all sucessors of the project can make use of the early delivery. For example has all the training been completed? Are your 3rd parties flexible enough to work to the shortened time frames? Saving Changes...
Rakesh TrivediSenior Project Manager| IT CompanyIndore, Mp, India
Positive Risk are always considered as an opportunity , so I feel everyone should have used the postive Risk altough sometimes unwittingly Saving Changes...
Sylvie EdwardsProfessor/Program coordinator| Durham College (DC)Whitby, Ontario, Canada
I do agree that most people do not work really hard at the opportunities side of the risk equations. I know from my practice that most clients are shocked when I hint that we might want to "take advantage of" or devise a plan to "exploit" an opportunity. Most people assume that the positive will happen by itself it you take care of the negative.
Well, not so... You still should put some thought to the opportunities that surround your project so that if there is just a little nudge that needs to be given that you are there at the right time to do it. This is the stuff that makes you look like SUPERMAN or WONDER WOMAN to your executives... why waste an opportunity to shine? Saving Changes...
