Safety and Risk Management : Positive and Negative

Running head: SAFETY AND RISK MANAGEMENT
Safety and Risk Management
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Author’s Note

1SAFETY AND RISK MANAGEMENT
Analyze, compare and contrast the fundamental risk management strategies
A risk can be a danger, that is a risk that has the negative effect on the project goals, or
this may be the opportunity, that is a risk that has the positive impact on the project goals, and
so various approaches are there to tackle positive and negative risks when this comes to
the project management.
Positive Risk Management Strategies
Exploitation
Exploitation increases the probability of the positive risk happening which leads to
the opportunity (Bromiley et al. 2015). The project manager should have provided sufficient and
productive resources for taking advantage of the chance. This method reduces the ambiguity that
the positive risk entails by ensuring this happens.
Sharing
When the project team itself is not completely prepared to take advantage of the
opportunity in which they might be bringing on another organization to collaborate. Another
company's experience is leverage to optimize the profit out of chance. Definitions of
collaboration opportunities involve the creation of alliances for risk collaboration, teams, single
purpose corporations or joint ventures. In this both parties are benefiting according to their
commitment and practice.
Improvement