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...
Jaleel .PMP, Associate Director| MetricStreamBangalore, India
I would like to share the one that happened on my project few days back. My team fixed a small data security issue which resulted in huge functional impact for different applications that use our software. This gave us an opportunity to identify the impact it had on different applications which we were unaware in turn resulting in, we, adding new test cases, identifying new use cases, strengthening our design and elaborating our documentation. Yes, this resulted in impact on scope and schedule but with in the threshold we had but ended adding more value to the software going to be delivered.
...
2 replies by Rajeev Sharma and Vincent Guerard
Dec 05, 2017 7:07 AM
Rajeev Sharma
...
In Telecom systems, we plan system capacity on the basis of ARPU and Erlange utilization of telecom E1's in past (average units for geographies). These element brings a huge contribution in Capex model, if post capability planning of system by change there utilization (average) for specific services drops it get translate into a positive risk and save a lot of money (in specific business use-cases).
Dec 05, 2017 11:02 AM
Vincent Guerard
...
Thanks for sharing,
Very interesting, a change in a security issue, a positive impact on more than the project on the program!
Technology Risk- The risk that artificial intelligence will grow to dominate things that humans now control. The potential for machines to become too smart could be viewed as a positive risk.
...
1 reply by Vincent Guerard
Dec 05, 2017 11:03 AM
Vincent Guerard
...
Thanks
Could be seen by other like a threat to their job?
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.
...
2 replies by Sante Delle-Vergini, PhD and Vincent Guerard
Dec 05, 2017 11:06 AM
Vincent Guerard
...
Thanks Sante,
True a surprise discount would be a positif impact. Do you put it in your risk register?
Dec 05, 2017 5:08 PM
Sante Delle-Vergini, PhD
...
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.
In my experience Positive risks (Or any other risk) can be identified at any stage of the project. However, early identification always gives benefit to the project team to respond and accrue most benefits from the same. As the projects evolve with time in to different phases clearer the requirements, scope and the risk etc become which is commonly known as rolling wave phenomena.
If you are a contractor, example of a positive risk can be an additional work which takes place in the scope of your project due to an external Issue or Accident. These Issues & Accidents normally delay projects and normally comes as high profile requirements to the end users.
Due to the former knowledge & the experience of the scope and construction you have better chances to win the rectification scopes compared to external competitors. Hence, the positive risks can come at any stage of the project.
...
1 reply by Vincent Guerard
Dec 05, 2017 11:12 AM
Vincent Guerard
...
Thanks Prasanna,
Yes the earlier we identifie a risk the more opportunity to work at resolving it.
In you risk register you would put something about a "change that would add delay and give other component more time" something in those line?
Saving Changes...
Anonymous
Technically there are no negative or positive risks - I know that what we call them.
As you know, risks are, technically, risk events, and if the risk event occurs, it has a positive or negative consequence to project objectives.
With the above in mind, many of the risks that you define as threats could also be opportunities. For example, poor labor productivity (worst than plan) resulting in a budget over-run. The opposite is good labor productivity (better than plan) resulting in a budget under-run.
Other examples could include using industry best practices (or what I prefer to call leading practices). For example, in capital projects, we can use Zero Change Best Practice or Zero Incident Best Practice. If you do not use these best practices than expect a negative impact to your project, a threat. If you use them properly, then expect a positive impact (an opportunity).
Often enough, these practices could be embedded into a company OPMS (organizational project management system) or the organizational methods.
...
1 reply by Vincent Guerard
Dec 05, 2017 11:19 AM
Vincent Guerard
...
Thanks Mounir,
many risk have two sides, we often neglect the positive one.
Changing practice to "leading practice" could have a positive impact on the project. Too often we just take about possible negative impact of change and implementing new practice.
Here's a fairly common one when it comes to any project involving a new product or service offering. Operations and sales teams will often consider the negative risk of a launch not achieving sales targets but how many plan for the reverse? If we were to generate a much higher volume of sales than was expected, how might we deal with the realization of that positive risk? One might introduce a strategy to exploit it, or if there's no way to do so then perhaps a share strategy might make the most sense.
Kiron
...
1 reply by Vincent Guerard
Dec 05, 2017 11:25 AM
Vincent Guerard
...
Thanks Kiron,
Not sure I get it. Better sales or higher volume is additional benefits from the project. I don't see it like an opportunity during the projet execution.
I agree, it is a positive risk on the outcome of the project. Interesting, I was more in the context of the execution.
Saving Changes...
Rajeev SharmaPrincipal Consultant | Strategy, EA CoE | Digital Transformation, AI and Gen-AI| Tech MahindraGurgaon, Haryana, India
Dec 04, 2017 10:16 PM
Replying to Jaleel .
...
I would like to share the one that happened on my project few days back. My team fixed a small data security issue which resulted in huge functional impact for different applications that use our software. This gave us an opportunity to identify the impact it had on different applications which we were unaware in turn resulting in, we, adding new test cases, identifying new use cases, strengthening our design and elaborating our documentation. Yes, this resulted in impact on scope and schedule but with in the threshold we had but ended adding more value to the software going to be delivered.
In Telecom systems, we plan system capacity on the basis of ARPU and Erlange utilization of telecom E1's in past (average units for geographies). These element brings a huge contribution in Capex model, if post capability planning of system by change there utilization (average) for specific services drops it get translate into a positive risk and save a lot of money (in specific business use-cases).
...
1 reply by Vincent Guerard
Dec 05, 2017 11:30 AM
Vincent Guerard
...
Thanks Rajeev,
So a lower utilisation then expected would be a positive risk in your register.
Saving Changes...
Mansoor MustafaSenior PM| Government DepartmentRawalpindi Punjab, Pakistan
In construction industry, positive risk or opportunity is bulk purshasing of materials for various projects may provide cost reduction.
...
1 reply by Vincent Guerard
Dec 05, 2017 11:29 AM
Vincent Guerard
...
Thanks Mansoor,
Discount, yes a positive risk.
What about better climatic condition that increase productivity. Would you put that in your risk register?
I would like to share the one that happened on my project few days back. My team fixed a small data security issue which resulted in huge functional impact for different applications that use our software. This gave us an opportunity to identify the impact it had on different applications which we were unaware in turn resulting in, we, adding new test cases, identifying new use cases, strengthening our design and elaborating our documentation. Yes, this resulted in impact on scope and schedule but with in the threshold we had but ended adding more value to the software going to be delivered.
Thanks for sharing,
Very interesting, a change in a security issue, a positive impact on more than the project on the program! Saving Changes...
Technology Risk- The risk that artificial intelligence will grow to dominate things that humans now control. The potential for machines to become too smart could be viewed as a positive risk.
Thanks
Could be seen by other like a threat to their job? Saving Changes...
