Answer to Question #220526 in Management for kgze

Question

question 1 ( 25 marks )

With relevant examples discuss how you would respond to both negative and positive risk in a project management setting.

Answer 1

Only acceptance is appropriate for both positive and negative risk events. Often sharing is used for low probability and low impact risk events regardless of the positive or negative effects the risk event may bring the project. Acceptance response is a part of Risk Response planning process.