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This is what CXC Exams looks like for some students after 5 years of secondary educaiton

Posted by Imi Chitterman on May 25, 2015

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Risk - Positive and Negative

Risk is an uncertainty that can have a negative or positive effect on meeting project objectives, (Schwalbe, 2014). Negative risk are usually the the one that are generally focused during a project, largely due to their perceived power to cause projects to fail in meeting its objectives (Cost, Quality, Time or Financial goals) Schwalbe outline four (4) basic response strategies for negative risks: Risk avoidance or eliminating a specific threat. Risk acceptance or accepting the consequences if a risk occurs. Risk transference or shifting the consequence of a risk and responsibility for its management to a third party. Risk mitigation or reducing the impact of a risk event by reducing the probability of its occurrence. Further Readings: SCHWALBE, K. 2014. Information technology project management, Boston, MA, Course Technology.

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