project manager, what is your opinion about risk-Taking?

It is impossible to characterize risks as 'good' or 'bad.' The question is if the risks of the project are outweighed by the potential gains the project may offer. "Taking big risks can be beneficial to a firm that is able to accept them because it enables opportunity. For this reason, risk must be defined as including the probability of both good and bad outcomes" (Kwak & LaPlace 2005: 691). Risk-taking is an essential component of business, given that the future is always unknown. Yet the project manager must do all he or she can plan for likely future scenarios to mitigate unnecessary risks and ensure that the risks that are undertaken are likely to benefit the organization, improve its fortunes, and cause minimal harms.

It is vital that risk-taking does not become a 'cover up' for sloppy planning. Allowing a project...
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