Risk / Opportunity Analysis

21 October 2008

Risk and opportunity represent the two-sided coin of "chance". Risk management, traditionally, seeks to minimize negative outcomes, whereas opportunity management seeks to take advantage of possibilities that enhance positive outcomes. The identification of the potential impacts and potential benefits of a particular decision or change allows the event organizer (and risk manager) to properly prepare for the risks and successfully develop the gains. This "downsides" / "upsides" perspective (similar to a Change Impact or Cost/Benefit analysis) also facilitates change management and the ability to justify the decisions made.

see also Influence Diagram

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