Rand MesmarProfessional Consultancy Services Provider-| "We Help By Getting The Right Things Done In The Right Manner?"Nablus, West Banks, Palestine, State Of
question with a philosophical approach !
is it risk management when you accept the unaccepted risk!?
if yes or no .. why ?? Saving Changes...
Anton OosthuizenSenior Business Analyst / Project Manager| Self EmployedPretoria, Gauteng, South Africa
Philosophical indeed. Firstly I guess we need to clarify what unacceptable risk (I assume this is what you mean?). Unacceptable risk basically means that it is a risk that cannot be left to its own devices i.e. any risk with a mitigation strategy other than acceptance. So any risk where you apply limitation/reduction or avoidance/transference strategy is an unacceptable risk. Where you can safely 'ignore' risk it is deemed as acceptable. So yes, it is definitely risk management. Saving Changes...
Rand MesmarProfessional Consultancy Services Provider-| "We Help By Getting The Right Things Done In The Right Manner?"Nablus, West Banks, Palestine, State Of
Acceptance is still a response. As a PM, if I have brought forward a risk which the team and I feel is unacceptable and the risk owner elects to do nothing with it, they are accepting that risk. The team and I will then spend effort in trying to protect the project from the realization of that risk but will likely be constrained by political influence or resources. Regardless, we have managed that risk, just not as effectively as if the risk owner had agreed to do something more appropriate.
Kiron Saving Changes...
Rand MesmarProfessional Consultancy Services Provider-| "We Help By Getting The Right Things Done In The Right Manner?"Nablus, West Banks, Palestine, State Of
Thanks Mr. Kiron Saving Changes...
Drew CraigSr. Agile & Product Coach| VanguardPhiladelphia, Pa, United States
Based on the analysis, it can be determined that accepting the risk is less costly than the mitigation strategy, or the likelihood is low enough, the acceptance again the most cost effective option. Saving Changes...
Stéphane ParentSelf Employed / Semi-retired| Leader MakerPrince Edward Island, Canada
If the risk is unaccepted, that means you do not want to be indifferent to a risk, at least according to PMI risk management.
If you accept the unaccepted risk, that means you accept that the risk must be managed. Saving Changes...
Mohamad FararjehProject Management - Electrical Engineer| San Francisco Bar Area Rapid Transit (BART)Santa Clara, Ca, United States
I have been dealing with risk for a long time.
I am not sure how and who will define what is an unacceptable risk!!!
A risk is a risk, whether we accept it or not, whether we like it or not.
We have to run it thru the process. A risk has to be qualified, quantified, and subsequent action plan dealing with the risk must be specified.
At the same time, risk identification is an ongoing process. Saving Changes...
Rand MesmarProfessional Consultancy Services Provider-| "We Help By Getting The Right Things Done In The Right Manner?"Nablus, West Banks, Palestine, State Of
thank you all for your informative contributions Saving Changes...
Deepesh RammoorthyICT Project Manager ( PMP®AgilePM®Certified ScrumMaster® (CSM®))| Australian Red Cross Blood ServiceTarneit, Vic, Australia
A risk can be Avoided, Mitigated, Accepted (Active or passive), Exploited, Transferred, Shared, Enhanced...
If you have identified it as a risk , you have to manage it as such. You can not have it as "unacceptable".
"unacceptable " could have a different connotation. It would even mean that the Management has "no tolerance" for this risk and they are not ready to acknowledge it . If you cannot find a management strategy for this risk, it's best not to embark on that risky venture.
Guess what, by not doing the work, you have actually "Avoided" the risk. so you have managed it anyways. Saving Changes...
Stéphane ParentSelf Employed / Semi-retired| Leader MakerPrince Edward Island, Canada
Rand's question said "unaccepted risk". It appears some are changing it to "unacceptable risk".
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1 reply by Deepesh Rammoorthy
Sep 11, 2017 9:35 PM
Deepesh Rammoorthy
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Ha ! the Philosophical Approach .....Now I see It :)
