Can you think of an item for a project that would be considered a positive risk?...

Can you think of an item for a project that would be considered a positive risk? explain why and give examples

Expert Solution

Yes of course, Just like for chance of negative risk to occur, There may occur a positive error during a project execution.

A positive risk may be any condition, event, occurrence or situation that ultimately imparts a possible positive effect for a project. A positive risk element can positively affect your project and its objectives.

The overall practice of risk management is focused on controlling potential negative outcomes of a risk. Whereas in the case of positive risks, risk management occasionally deals in opportunity. That is, when positive risks occur they can often be managed as opportunities.

Example

Positive Risk in Project Management

Every project leader develops a budget for their respective project execution and its associated resource. However, as in most things in life, there are often adjustments throughout the course of projects. Sometimes, the project finishes well under budget, which is technically an error that attributes to the miscalculation or lack of foresight of the project manager.

Generally project managers try to avoid the risk of miscalculating a project and bringing it in under budget, but it is more hard to argue with the positive outcome of keeping more money for the organization. The project manager should be the thoroughly able to calculate the budget requirements during each stage of project and should have a thorough foresight regarding budget utilization.

Positive Risk in the Supply Chain

Supply chain logistics are often fraught with risks, but there are times when it works in a favorable manner. Any time that you being able to deliver the goods or services ahead of time to your clients, as long as it is convenient for them, this can be certainly considered as a positive risk. Further more, as long as clients have the space and other accommodations to facilitate the early delivery, supply chain risks often work in your favor.

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keosha answered 1 year ago

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