Answer the question or comment (make sure that your reply turn the conversation more interesting, enriching it – not only submit a simply agreement/disagreement sentence)
Using an external reference, properly cited, to support your reply to question(s).
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K.S. Question 1:
Assessing project risk is a big part of a project mangers duties. The higher the risk the higher the reward, but there are also major consequences to the high-risk projects. Trying to find that happy medium of what businesses view as enough risk may be difficult for a project manager. The project manager article I read put it in a good perspective for me: If your project requires that you stand on the edge of a cliff, then theres a risk that you could fall. If its very windy out or if the ground is slippery and uneven, then falling is more likely (Watt, 2014). My question is what do businesses or people consider high risk? Is that a 1% success rate, a 99% success rate, or somewhere in between, and why?
K.L Question 2:
Let’s explore risk. Our textbook tells us that risk should be managed and minimized. However, sometimes entire industries become “high-risk” over time. Consider video rental stores and department stores. Both of these represent struggling industries in the US due to changing consumer preferences (Riskiest Industries in the US in 2020, 2019). Given current or upcoming consumer preference and/ or cultural shifts, what is another industry that may become high-risk in the future?
