Monday, February 3, 2020

Response Strategies Essay Example | Topics and Well Written Essays - 250 words

Response Strategies - Essay Example In risk assessments i.e. interviews should be founded on the basis of the organizations or projects objectives. This is so as to determine which risks and opportunities are available that can affect the realization of the objective. This makes it easier to be able to identify any strengths or weaknesses in the area of study. It gives more insight about recent developments in the area of study which might positively or negatively affect the venture. Help also determine the legal and policy requirements that might post any risk to the entity (Fan, 2008). Following discovery and analysis of risks, appropriate action in response to the identified risks must be taken focusing on risks of most significance. The risks may be in form of opportunities or threats. The response actions to an opportunity may include; exploitation, sharing and enhancement. These actions aim at realizing that the available opportunities are realized. Responses to threats include avoidance, transferring and mitigation of threats. It is necessary therefore to start with the handling of the high-priority opportunities since they foster the growth of a certain project. The opportunities action strategy will insure a positive impact is realized, and maximizing the benefits realized for the project. Unlike the threats which may involve the incurring of costs or termination of a project even before it is realized. Hence, it’s quite appropriate to maximize on the opportunities

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