Project risk may be either a problem or opportunity. During project initiation, risks are identified and categorized according to their potential impact to the project.

For each risk that can have a negative impact on your project, you need to look at the risk and see how you can turn it into an opportunity.  For example:  You heard on the news that a major overnight delivery company may have a strike.  This may be an opportunity to investigate smaller carriers that can provide the same (or better) service for less.

Opportunities can have problems as well.  Each opportunity needs to be examined for primary and secondary risks that may be introduced as a result of taking advantage of an opportunity. 

 

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