Let’s go back to basics. The international standard on risk management, ISO 31000, defines risk as “the effect of uncertainty on objectives”.  You could argue that it is based on the fact that we live in an uncertain environment, of course we can’t predict the future or the impact of change.

As Project Managers we may have a tendency to think “what’s going to go wrong?” As we have all had projects go off the rails.  However, we do need to remind ourselves that not all risks are negative.  A risk could have a positive outcome. A good definition is: “a favourable or advantageous circumstance or combination of circumstances”.

A positive risk in project management is actually a good thing for projects.

Before I go on, what is a positive risk?

We know that a a risk in project management is any unexpected event that could occur and impact your project’s objectives. Risks can be planned for – identifying, analysing and setting up mitigating actions. And we know about issues! The unknowables that turn up unexpectedly. They are happening now and need to be addressed.  Someone once said you need to think of risk like cow pats (manure) you can plan ahead and wear suitable footwear (risk mitigation) but if you don’t and you step in a cow pat then that’s an issue.

Examples

Here are some positive risks in projects:

·        A change in policy that could benefit your project. 

·        Change in Government could mean more funding for projects, or an easier path through the red tape.

·        A technology currently being developed that will save you time.

·        A request for additional resources, materials, tools, or training that will make your project more efficient if provided. 

·        A project deliverable is ready earlier than expected, or can move to testing/review earlier.

·        Maybe your final deliverable might have more uses than you thought.

·        Price changes that could benefit your project.

So finally, during a kick off meeting ask the question: “what could go better than expected?” This constructive mindset makes positive risks more obvious.

Carol@onedaytraining.co.nz