I'm looking for positive risk example that can be shared. We all have problem in identifying positive risk.
How was it identified?
At what stage? initiation, execution...
What was done?
You can post to this discussion or directly to me. Saving Changes...
Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
Dec 05, 2017 3:45 PM
Replying to Ayat Rezaeifar
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:) Good one! However, its not a risk anymore! Its a known event!
You right. It was a risk before it becomes an issue. Now is an materialized opportunity that Argentina needs to capitalize inside the planning for things like logistic and others. Saving Changes...
A common positive risk (read as opportunity) comes in the form of discounts or bulk savings or promos after the initial quote for product/products. Say 5% saving on software licensing for example. It doesn't sound like much, but when you are rolling out 5,000 hardware systems and they all need to be upgraded with OS and apps, and suddenly the vendor offers it either through negotiation or for bulk buying for example, it can add up to a significant positive risk.
I know risks can be positive or negative, but most people associate risk as negative. Therefore I usually create a separate opportunity log or register.
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1 reply by Vincent Guerard
Dec 05, 2017 5:42 PM
Vincent Guerard
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Sante,
True some keep two registers, they need to combine for quantitative analysis.
I didn't restrict risk focus to project life risks only - when identifying risks, I always look at risks to both project and business outcomes. If we are surprised by a much higher volume of sales than anticipated and unable to handle those and end up with unhappy potential customers, that would point to a failure in the project to plan for scalability.
Treating that as an opportunity risk and tracking early warning signs of getting more interest than we thought for could prevent this situation.
Kiron
Kiron,
When doing a PPP type project that's what I do. When I posted the question I was in the project execution, not in the full capital life cycle. Your example is excellent. Saving Changes...
- In some contracts there is a reward for completing the project earlier than baseline.
- Another example, if you ship earlier than a certain date you might be able to recognize the revenue in this year's books rather than next year.
- If a certain experienced resource could be released from another project and join your project, that could improve the resource utilization scores of your project.
- Being able to complete an out of scope, but desirable, feature of the software before the project completion which could result in added value to the customer and increase customer satisfaction.
- Drop in the price of material.
Thanks Ayat,
Good examples.
In those line, I recall the reconstruction of the freeway near San Francisco, the contractor made millions by delivering weeks early. Saving Changes...
I know risks can be positive or negative, but most people associate risk as negative. Therefore I usually create a separate opportunity log or register.
Sante,
True some keep two registers, they need to combine for quantitative analysis. Saving Changes...
Anish AbrahamPrivacy Program Manager| University of WashingtonAuburn, Wa, United States
When an organization merge with another organization, it looks like they undergo a positive risk appetite, so as to attain the benefits in terms of brand name, profits etc as a result of the merger.
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1 reply by Vincent Guerard
Dec 07, 2017 9:13 AM
Vincent Guerard
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Anish
Interesting, I never look at it in this way. Thanks
Saving Changes...
Pravin KajarekarPM III| IBM India Private LimitedMumbai, Maharashtra, India
Automation: It has been going on for years and we have handled it. It is inevitable an something to be taken in strides. It can only be accepted when you realize the capacity of the human brain to THINK is almost infinite and automation only helps humanity.
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1 reply by Vincent Guerard
Dec 07, 2017 9:15 AM
Vincent Guerard
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Thanks,
New technology in a large view could be source of positive risk many time, this has been in the past. It will continue to be source of positive and negative risk in the future.
When an organization merge with another organization, it looks like they undergo a positive risk appetite, so as to attain the benefits in terms of brand name, profits etc as a result of the merger.
Anish
Interesting, I never look at it in this way. Thanks Saving Changes...
Automation: It has been going on for years and we have handled it. It is inevitable an something to be taken in strides. It can only be accepted when you realize the capacity of the human brain to THINK is almost infinite and automation only helps humanity.
Thanks,
New technology in a large view could be source of positive risk many time, this has been in the past. It will continue to be source of positive and negative risk in the future. Saving Changes...
