Risk analysis is the review of the risks associated with a particular event or action. It is applied to projects, information technology, security issues and any action where risks may be analyzed on a quantitative and qualitative basis. Risk analysis is a component of risk management. Most of us do anything possible to avoid risk, right? However, once we understand that there are different types of risk – each having their own potential outcomes – we might better put those risks into proper perspective. Positive risk is the type of risk that is also known as an opportunity.
What Is Positive Risk
Positive risk is just one of the many types – along with negative, known, unknown, residual and secondary – that you are likely to face in your business. Basically, a positive risk is any condition, event, occurrence or situation that provides a possible positive impact for a project or environment. A positive risk element can positively affect your project and its objectives. Often when teams know this risk, it provides even more reason to pursue and realize this opportunity. As counterintuitive as it sounds, when discussing any type of risk, the response strategy when encountering positive risks is to work to increase the likelihood for this event to occur. The very word ‘risk’ may throw off many newly minted risk managers, with its generally negative connotations, but take heart; positive risk is good for business. But really, risk in general is not defined as specifically good or bad. It is merely an event that can have some type of potential on business objectives. However, since business leaders must protect the interests of their business, employees, clients and third party stakeholders, it feels more urgent to focus on the negative consequences in order to avoid negative impacts. The human condition generally dictates that we protect what we have, first and foremost. As a practical and familiar daily example, we lock our doors and windows before placing our valuables and loved ones inside our homes. All the positives come after negotiating the negatives, but we certainly proceed to fill our home with good things, often based on positive risks like working overtime to afford a new high-tech television. All that noted, it is just as important to concentrate on the positive aspects of risk. Once you have all the negative consequences of risk accounted for and managed, it is time to explore positive risk.
Examples of Positive Risk
One of the best ways to sum up positive risk is that it often boils down to having too much of a good thing. Even better, these risks allow for opportunities instead of consequences.
Positive Risk in Project Management
Every project leader develops a budget for their respective project and its resource needs. However, as in most things in life, there are often adjustments throughout the course of projects. Many times, a project finishes well under budget, which is technically an error that is attributable to the project leader’s miscalculation or lack of foresight. Most project managers try to avoid the risk of miscalculating a project and bringing it in under budget, but it is hard to argue with the positive outcome of keeping more money for the organization. It is easier to re-allocate those funds than to need to recoup what is lost for going over budget.
Positive Risk in the Supply Chain
Supply chain logistics are often fraught with risks, but there are times when it works in your favor. Any time that you are able to deliver a good or service ahead of time to your clients, as long as it is convenient for them, you can certainly consider this a positive risk. Again, as long as clients have the space and other accommodations to facilitate early delivery, supply chain risks often work in your favor.
Elevating Essay Writing: Delivering Excellence and Literary Distinction
Crafting Essays that Leave a Lasting Impression
In the realm of academic expression, where words have the power to shape ideas and inspire minds, we stand as a beacon of excellence. As dedicated essayists, we take immense pride in our ability to weave words into captivating narratives, enlightening arguments, and thought-provoking analyses. Our journey as essay writers has been one of continuous growth and meaningful impact. Let’s explore some remarkable instances where our expertise has made a significant difference.
Guiding Students Towards Success
Our journey is intertwined with the success stories of numerous students who sought our guidance. In one instance, a struggling undergraduate approached us with an intricate topic in the field of sociology. Through meticulous research and a nuanced understanding of the subject, we formulated an essay that not only secured the student’s academic standing but also ignited their passion for social sciences.
Similarly, a graduate student grappling with the complexities of literary criticism found solace in our expertise. We delved into the depths of literary theory, dissecting texts and exploring nuanced interpretations. The resulting essay not only garnered accolades but also instilled a newfound confidence in the student’s analytical abilities.
Breathing Life into Topics: Examples of Our Endeavors
The Intersection of Technology and Society: In an era dominated by technological advancements, we embarked on an essay that explored the intricate relationship between technology and society. By seamlessly blending sociological insights with technological trends, we created an essay that resonated with readers across disciplines.
Environmental Ethics and Sustainability: With environmental concerns taking center stage, we took on the challenge of crafting an essay that delved into the ethical dimensions of sustainability. Through rigorous research, we presented a compelling argument that not only addressed the urgency of the issue but also proposed actionable solutions.
Literary Analysis: Unraveling Symbolism: Literary works often conceal layers of symbolism. In an essay dedicated to the works of a renowned author, we unraveled the subtle threads of symbolism woven into the narrative. This essay not only celebrated the author’s craftsmanship but also offered readers a deeper appreciation for the written word.
A Tapestry of Literary Accolades
Our dedication to the art of essay writing has not gone unnoticed. Over the years, we have had the privilege of being recognized in esteemed literary competitions that celebrate creativity and intellectual prowess. These accolades serve as a testament to our commitment to delivering essays that transcend the ordinary and venture into the extraordinary.
Literary Award Highlights
Eloquent Prose Prize: Awarded by the Prestigious Wordsmith Guild, this accolade celebrated our mastery over language and the art of storytelling. The essay that earned us this honor explored the nuanced emotions of human existence through a compelling narrative.
Critical Thinker’s Commendation: Presented by the Symposium of Intellectual Thought, this award acknowledged our prowess in critical analysis. Our essay, dissecting the philosophical underpinnings of existentialism, showcased our ability to navigate complex ideologies with finesse.
Literary Luminary Award: Conferred by the Literary Confluence, this award celebrated our contribution to literary discourse. The winning essay, an exploration of the intersection between culture and identity, captured the essence of diverse human experiences.
Conclusion: Pioneering Excellence in Essay Writing
As we reflect on our journey as essayists, we are filled with a profound sense of purpose. Our dedication to delivering exceptional essays that enlighten, engage, and inspire remains unwavering. Through intricate narratives, incisive analyses, and unwavering commitment to the written word, we have carved a niche for ourselves in the realm of academic and literary excellence. Join us as we continue to shape ideas, foster growth, and transcend boundaries through the power of the written essay.
Positive Risk in Engineering, Designing and Building
Engineers and building designers often look at the materials and design plans in terms of how long a structure will last. If they strike out to build a structure intended to last for 20 years and end up with a 100-year project, the client benefits from the engineer’s positive risk. Such risk may result from an over-estimation of necessary funds, but the outcome is likely to please the client. If the budget did not greatly exceed the initial plans, it is likely to be considered a positive outcome by everyone since the client is likely to spread the word of the firm’s having exceeded expectations.
Positive Risk in Marketing
Marketing teams are often mired in demographic data to help project interest in a product, service or event. Sometimes these savvy teams may slightly miss the mark and attract an abundance of interest. While this may initially cause issues in an adequate amount of product or space to accommodate customers, adjustments can be made to allow for a positive outcome for everyone.
Positive Risk in Technology
Businesses are increasingly searching for new ways to incorporate technology for greater efficiency. More and more organizations are finding that, with such technological investments, they may be eliminating the need for some jobs within the company. While this type of risk is bad for employees who may risk losing their jobs due to technological efficiency, it does benefit the company in savings.