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Planning for positive risks means you're in position to take advantage of opportunities.
THE WORD "RISKS" carries a negative connotation, which is why project managers tend to believe risks should be mitigated or avoided as much as possible. But that common belief means you may be missing out on opportunities.
A negative risk is a threat, and when it occurs, it becomes an issue. However, a risk can be positive by providing an opportunity for your project and organization.
This is critical to consider when registering your risks.
Let's say your organization is rolling out a new website; an example of a positive risk would be having too many visitors. A large amount of site traffic would be great, but there is a risk the servers won't be able to handle it.
The risk management processes are the same for positive risks as for negative ones: You still need to identify risks, assess their impact on your project and monitor them throughout the project. But instead of mitigating, avoiding or transferring positive risks, you'll want to enhance, exploit or share them.
Enhancing the Risk
Enhancing a risk is planning and acting so that the risk's probability or impact rises. The idea behind...