X

A project management truism: Risks = Threats + Opportunities / PMI-RMP Risk Management Training in NYC

Rich Maltzman for ProjectsatWork writes [excerpted]…”  Here’s a basic project management truism: Risks = Threats + Opportunities

That is, a project’s risks are made up of uncertain events, which, if they were to occur, have anegative OR positive effect on project objectives.  So, for example, if the cost of labor were to suddenly drop in a labor-intensive project – that is indeed a risk.  A positive risk, for sure, and thus, an opportunity – but a risk nonetheless.

Of course, we tend to think of climate change as a threat.

But (and it’s a big but) recent key stories about climate change and some positive effects of climate change got me to thinking… I began to wonder.  Hmmm….  Climate change has a positive effect for society over there,  it has some positive effects for (apparently) the environment over here, and… another story over there… well, it made me think about the opportunities provided by climate change.” SNIP, Rich Maltzman’s article continues @ ProjectsatWork.com, click here to continue reading….

As a local firm, we are excited to offer courses throughout the year designed for project professionals interested in Portfolio (PfMP), Program (PgMP), Project (PMP & CAPM) Risk (PMI-RMP) Management, and Agile (PMI-ACP) certifications.

PMO Advisory: PMO Advisory is a management consulting firm specializing in strategic business execution - helping organizations bring ideas to life. We specialize in project, program, and portfolio management, PMOs, business transformation, process improvement and sustainable business innovation.