ABSTRACT
If we cast our mind back to the definition of risk in the project management environment — “an event which may affect the project for better or worse,” events which effect the project for worse have negative outcomes and are threats to the successful completion of the project. “For better” implies positive outcome and these events are known as opportunities. We will look in this chapter at responding to both threats and opportunities. Avoiding threats and exploiting opportunities is a bit like playing a loaded game of snakes and ladders where the player has some control over the throw of the dice, and is trying to increase the chances of landing on squares at the bottom of ladders and avoid those at the head of snakes.
