What are Positive and negative risks and how do you manage risks

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Accepted Answer

Positive risks are opportunities while negative risks are threats. Risks are managed through identification, assessment, and mitigation.

Positive risks are events that could have a positive impact on the project if they occur. For example, a vendor may offer a discount if the project is completed ahead of schedule.
Negative risks are events that could have a negative impact on the project if they occur. For example, a key team member may leave the project unexpectedly.
Risk management involves identifying potential risks, assessing their likelihood and impact, and developing strategies to mitigate or avoid them.
Risk management should be an ongoing process throughout the project lifecycle.
Effective risk management can help ensure project success and minimize negative impacts.

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