Your project sponsor has asked you to explain the negative or threat risk response strategies and the opportunity or positive risk response strategies for a project. How would you describe them to the sponsor

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27-08-2020
Business

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Your project sponsor has asked you to explain the negative or threat risk response strategies and the opportunity or positive risk response strategies for a project. How would you describe them to the sponsor

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fichoh fichoh · Answer 1 · 2020-08-29T04:09:57+02:00

Answer: kindly check explanation

Explanation: Risk as related to a project may be reffered to as occurrences or factors which could affect a project, they may not always be negative as usually perceived, they may be positive. Hence, when a perceived negative risk is perceived, it is essential to escalate and ensure that the necessary stakeholders become aware so as to find ways of mitigating or avoiding such happening.

In the case of positive risk or opportunity, escalating is equally important as it ensures relevant executives are aware and hence work on ways or processes to foster, embrace and exploit the advantage.