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The golden rule: When risk strikes, you may experience a concussion trying to figure out what happened. So, before jumping into action or making any decisions, take some time to gather your thoughts and look at the situation objectively. Let’s assess that risk to see how much it is. Sincere advice is to take a deep breath!
In addition, you should not only focus on threats and possible risks but ignore opportunities that bring unexpected value to your business or customers/partners. And do not plan alone, but ask for the input of all project members about the potential risks and opportunities they think about because maybe they have breakthrough ideas that you omitted.
The golden rule: It is sincere advice that instead of spending time aggregating risks or causes of risk in traditional ways, we can use tools to summarize risks as well as convenient for members. For example UpDiagram’s Risk Management templates. Propose ideas to deal with that risk. Such statistics will help everyone understand the problem at hand and have a clear plan to deal with the unexpected risk.
The golden rule: Let’s take a close look and decide what we’re going to do with each risk to best manage them. There are five basic strategies:
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Each strategy has its advantages and disadvantages, and you will probably use all four of these strategies. Sometimes it may be necessary to avoid the risk and other times you will want to minimize the risk or either completely dispose of it, transfer it or simply accept it. Let’s see what those terms mean and how to choose the right one to use for each of your business risks.
Controlling and protecting the project from risks is always what professional project managers want to aim for. But life and work cannot avoid negative problems, sometimes it will pull you down, but sometimes it is a springboard to go up. The risks in the project are the same, do not panic, but always remember to stay calm, make statistics, and plan to solve them scientifically.