24 C
Kuching
Tuesday, November 24, 2020

Managing Positive Risk

Most people would normally associate the term ‘risk’ with something unfavourable when risk can actually be either negative or positive.

Risks can affect any area of your project, including your people, processes, technology, and resources. 

Positive risk is also known as an opportunity.

A risk can either bring positive or negative impact

A positive risk has the potential bring benefits to the workplace or for a project.

For example, it can be a new technology that is currently being developed and can bring positive impacts upon released.

And similar to risk management, managing positive risk also involved systematic approach to manage and identify them. 

In managing positive risk, it may involve working with relevant people in a team to brainstorm and identify potential positive events that may occur.

Managing the risk also involved assessing each risk including how it will likely to happen and its potential impacts.

For this, it is also important to keep track or record of all the positive risk. And for each risk, note down which risk will be exploited, shared, enhanced and accepted.

It is also advisable to assign people to monitor its progress or handle each risk.

By continuously monitoring it, this allows more updates and actions plan if needed.

Managing positive risk also allow to identify the signs that might indicate a positive risk and when it may take place.

By predicting the risk early, it gives those involved to arrange any preparation as they see fit. 

Upon facing positive risk, this would allow those involved to respond to it either through exploiting it, sharing it by working with others outside, enhance it to increase the opportunity or positive outcome or just simply to accept it as it is.

Related Articles

Effective Governance Boost Efficiency

Good management is, of course, critical for the operation of an organisation. With a good corporate governance framework in place, supported by a healthy corporate...

Developing and Enhancing Community Tourism in Sarawak

Community based tourism (CBT) is a new form of tourism that is managed by the local communities. Everything from decision making, planning, and evaluation...

Kecekapan Mengurus Kewangan Dalam Mengharungi Pandemik Covid-19

Pandemik Covid-19 yang melanda seluruh dunia telah meninggalkan kesan yang amat parah terhadap ekonomi dan sosial masyarakat apabila ramai yang telah kehilangan punca pendapatan...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

890FansLike
1,659FollowersFollow
21SubscribersSubscribe
- Advertisement -

Latest Articles

Effective Governance Boost Efficiency

Good management is, of course, critical for the operation of an organisation. With a good corporate governance framework in place, supported by a healthy corporate...

Developing and Enhancing Community Tourism in Sarawak

Community based tourism (CBT) is a new form of tourism that is managed by the local communities. Everything from decision making, planning, and evaluation...

Kecekapan Mengurus Kewangan Dalam Mengharungi Pandemik Covid-19

Pandemik Covid-19 yang melanda seluruh dunia telah meninggalkan kesan yang amat parah terhadap ekonomi dan sosial masyarakat apabila ramai yang telah kehilangan punca pendapatan...

SDI to Hold Talk on Mental Health During COVID-19

Sarawak Development Institute (SDI) will be organising a virtual public talk on mental health during COVID-19 and ways of coping while adapting to the...

Estimated cost to build one-kilometre road can be between RM4.17 million to RM12.5 million

The estimated cost to build a one-kilometre of tar sealed road can be between RM4.17 million to RM12.5 million. This was in respond to the...