BUS 519 – Week 1

(1) “What is Risk?” Please respond to the following:

•Risk concerns both positive and negative aspects of an event. Analyze why it is important to consider both perspectives when addressing risk for an organization. Include an example to support your response.

•Evaluate how threats and opportunities can be used to an organization’s advantage when developing the risk management plan. Argue the value of having a risk strategy despite the cost associated with it. Include an example to support your response.

(2) “Planning for Risk” Please respond to the following:

•There are three schools of thought regarding risk. The first considers the positive and negative aspects of risk, but sees them as separate. The second group believes that there are benefits from treating threats and opportunities together, while the third school does not label uncertainties, but addresses uncertainty as part of “doing the job.”

Compare and contrast the advantages and disadvantages of each approach. Respond to another student’s post (ground students will discuss their positions). •Choose a project with risks and select one approach from Part 1 of this discussion for the project you chose. Provide a rationale for your selection and determine how this approach helps the project to be successful. Be sure to identify the project you have selected.