How can risk present both opportunities and threats to projects?
Category : Risk on Projects
Risk on projects can provide many outcomes. It s either positive or negative, that’s why risk management is implemented to create a better understanding about the unknown events that might usually come along the way. Defining risk and assuming that it will happen, can provide awareness to each and everyone in the group and that possible solution to it may be implemented on time. Risks are said to be a threat if it only suggests negativity to the project. Threats usually decline the growth of the project which is the common fear anticipated by any one. That’s why they provide more attention focusing more on handling threats. It is more likely that the “threats” are more dominant rather than “opportunities”. On the other hand, risks are considered opportunity if it provides a positive output. Sometimes opportunities in project are taken for granted because of considering the treats a more serious problem than it. However, there should be a proper identification of both to prevent a more complicated situation that might occur instead of lessening the problems that could possibly happen.