MANAGEMENT

Detailed explanation-1: -Risk can be a source of opportunity as well as a source of loss. Risk management is as much about maximising opportunities as it is about minimising negative consequences. A better way to think about all of this is to use the terms “upside” risk and “downside” risk.

Detailed explanation-2: -In fact opportunity could be seen as just another form of risk : a risk with negative impacts is a threat, whereas a risk with a positive impact is an opportunity.

Detailed explanation-3: -Opportunity risk occurs whenever there’s a possibility that a better opportunity may become available after having committed to an irreversible decision. We all experience opportunity risk at its most basic level several times a week.

Detailed explanation-4: -A risk is something unplanned that might happen that could have a negative impact on your project; An issue is something that is currently happening and is having a negative impact on your project; An opportunity is something unplanned that might happen that you could exploit to have a positive impact on your project.

Detailed explanation-5: -Opportunity-based risks This type of risk comes from taking one opportunity over others. By deciding to commit your resources to one opportunity, you risk: missing a better opportunity. getting unexpected result.